Tungsten West plc’s Hemerdon tin-tungsten mine project has been selected as a ‘strategic project’ by the European Commission under the European Union’s Critical Raw Materials Act.
FUNDING
Located near the village of Plympton, seven miles northeast of Plymouth in Devon, the deposit is “world class” due its scale within an international context.
Hemerdon contains measured and indicated resources of 163.7 million tonnes at 0.14% tungsten trioxide and 0.03% tin.
Measured, indicated and inferred categories hold 326.8Mt at 0.12% tungsten trioxide and 0.03% tin, while the total mineral resource comprises 39.7Mmtu of contained tungsten trioxide.
Chief executive officer Jeff Court added: “We are delighted to have been included as a strategic project under the EU Critical Raw Materials Act.
“This selection emphasises the potential significance that Hemerdon holds, not only to the UK but to the wider European market.
“The recent tightening of the tungsten market has placed increased importance on the creation of a secure supply chain of critical materials in the EU.
“The designation of Hemerdon as a strategic project places Tungsten West in a strong position to provide a solution to our EU partners.
“Further, as we continue our discussions with EU-based funding sources, the strategic project designation will enable us to have access to additional potential funding opportunities within the EU.”