https://www.miningweekly.com
Resources
Resources
resources

W secures working capital to support La Parrilla ramp-up

5th December 2019

By: Creamer Media Reporter

     

Font size: - +

Aim-quoted W Resources has secured a €500 000 revolving credit facility with Spanish Bank CaixaBank, providing it with ramp-up working capital financing for the La Parrilla mine.

The Caixa facility is in place and funds have been drawn.

W is in the process of negotiating additional facilities, it said in an announcement on Thursday.

“The Caixa facility allows us to further reduce the average cost of funds of our debt facilities and provide solid working capital support for the ramp-up of La Parrilla,” said chairperson Michael Masterman.

Last week, the La Parrilla tungsten and tin mine started commercial production, setting the company on track towards achieving its target two-million-tonne-a-year run-of-mine (RoM), to produce 2 000 t of tungsten trioxide (WO3) concentrate.

La Parrilla is a tungsten and tin mine with a 49-million-tonne resource, grading 998 parts per million (ppm) WO3 and reserves of 29.8-million tonnes, at a diluted grade of 931 ppm WO3.

Production started in December 2018 and the mine is currently in the ramp-up phase to mine two-million tonnes a year of RoM.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.212 0.25s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: