The past week has seen many new company developments when it comes to Tungsten. Vancouver-based Golden Predator Mines announced the intersection of near surface tungsten mineralization in drilling at its wholly-owned Springer tungsten project in Nevada.
The market has been increasingly volatile over the past months, and with this week’s huge adjustments many businesses announced new strategic measures. Tungsten companies were no exception, and a few business changes were announced this week.
Scrap recycling is an important facet of the globe’s tungsten supply, with approximately 30% of the world’s tungsten coming from recycled material.
Over the past four years the price of tungsten has surged from $4 per pound to over $14 per pound. The surge in the price of tungsten has been caused by the fact the China has a monopoly on the market.
Roca Mines Inc. reported that significant tungsten mineralization was intersected during its recent surface diamond-drilling program conducted on the southern portion of the Ridge Tungsten Zone at the MAX project. For more information, click here For company’s website, click here
Friday, September 26, 2008