China Minmetals Corporation, a Chinese metals and mineral trading company, has signed an agreement with the Chenzhou city government to pursue its plan to spend $659 million for a five year exploration of rare earth minerals like Tungsten, Tin, and Bismuth in Hunan province. According to Xinhua, Chenzhou which is located in southern Hunan and [...]
Sandvik AB of Sweden has agreed to buy Wolfram Bergbau- und Huetten-GmbH Nfg. KG of Austria. Sandvik is the worlds biggest maker of metal cutting tools. Sandvik is Wolfram's largest customer, buying tungsten from the mine and processing plant.
The Board of Directors of International Wayside Gold Mines Ltd. announced that Wayside and Cross Lake Minerals Ltd. have entered into a non binding agreement. For full story, click here
European Ferro tungsten prices crept up for the week as buyers drew down inventories in Rotterdam. For a second week in a row, the Lunar New Year Holiday in China meant lack of supplies were coming out of the country.
Shenzhen, the Chinese city that accounts for 60 per cent of China’s total annual exports, is witnessing declining demand for tungsten. In 2007, the latest year for which industry data is available, it shipped $23 million worth of tungsten carbide powder and alloy jewelry.
Golden Predator Mines Inc. is pleased to report that it has received final operational permits for its 100% controlled Springer Tungsten Mine, Pershing County, Nevada. For full story, click here
Tungsten, like all the other metals, has seen a large amount of its value lost in the 2008 market crash. However, some stability has been lent to tungsten due to the fact that China has a monopoly on the market.
Queensland Ores Ltd. fell by the most on record in Sydney after stopping production at its Wolfram Camp tungsten mine. For full story, click here
Newcrest Mining plans to develop a new tungsten deposit at the huge Telfer mine in Western Australia, rather than sell it, in a move that could limit gold output in favour of other metals. For full story, click here
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