Tungsten explorer Vital Metals revealed that it will team up with Aragon Resources to take advantage of opportunities in tungsten mining in North Queensland.
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In recent weeks, large explorers and miners started to lodge scrip bids for smaller targets that are a logical fit. For instance, Queensland Ores had to suspend production at its Wolfram Camp tungsten and mine in November after it experienced some mining and metallurgical problems.
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Queensland Ores Ltd. fell by the most on record in Sydney after stopping production at its Wolfram Camp tungsten mine.
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Queensland Ores fell 67 percent to 1.1 Australian cents after stopping production at a tungsten prices fell.
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Wolfram Camp mine, which was closed down in the 1980’s, produced first concentrates of tungsten and molybdenum once again.
Managing director Taff Greenwood of Queensland Ores Limited, which has taken over the mine, said:
The company hopes to produce 1000 tonnes of tungsten concentrate and 80 tonnes of molybdenum concentrate in the first year.
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Wednesday, April 15, 2009
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