Wolf Minerals Ltd based in Subiaco, WA, Australia, reports that it has been successful in raising A$182.7 million (£99.2 million) funding to complete the Hemerdon tungsten mining project in Devon, UK. A groundbreaking ceremony was held in March and the company states that it is on a definitive timeline for construction, commissioning and first production, which is scheduled for 2015.
The Hemerdon Project (tungsten and tin) is said to have the third largest tungsten resource in the world. When complete, the mine will feature an 850m x 450m open cast pit extending to a depth of 200 metres, plus a state-of-the-art processing plant and integrated mine waste facility.
The mine is scheduled to produce approximately 3,500 tonnes of tungsten in concentrate annually, equivalent to approximately 3.5% of forecast global demand.