Tungsten Mining eyes 2014 production
PERTH (miningweekly.com) – ASX-listed junior Tungsten Mining is hoping to start production at its flagship Kilba mine, in Western Australia, by the third quarter of next year.
Company MD Paul Berndt said this week that Tungsten Mining was some four to five months away from taking a decision to mine at Kilba.
The Kilba project currently has a targeted resource of between 1.3-million and 1.4-million tons, at between 0.7% and 0.9% tungsten. Drilling was under way to declare a Joint Ore Reserves Committee-compliant resource at the project during the current quarter.
The resource and reserve work would be fed into a engineering prefeasibility study, along with process testwork, said Berndt.
Tungsten Mining has estimated a capital spend of some A$25-million to construct the project, with Berndt stating that most of the work required on the project would be conducted on a contract basis.
The company was also looking at options to reduce Kilba’s capital costs by introducing toll processers to build, own and operate a toll process for the Kilba ore.
The project was expected to have an eight-year life-of-mine, but Berndt noted that several exploration targets existed around the Kilba deposit, which could extend the project’s mine life.
Meanwhile, Brendt said that Tungsten Mining was on the cusps of signing a memorandum of understanding with supplier Global Tungsten and Powders (GTP) for a potential offtake agreement for the full supply of Kilda’s product.
The memorandum of understanding would include a financing option which could see GTP either arrange for or self-fund up to half of Kilda’s development costs.
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