Tungsten Mining reported last month it was raising $ 20 million by issuing new shares priced at 34c, with shares in the company being strongly bought in the months following an MoU being signed with major Chinese tungsten firm Xiamen Tungsten Co in November last year.
In contrast shares in
Tungsten Mining were up 11 % to 70c, capitalising the new Watershed owner at $ 395 million.
Up to now
Tungsten Mining's focus has been the Mt Mulgine project in Western Australia, with the strong tungsten price performance (and outlook) underpinning the company's share price rising from around 3c 12 months ago to more than 60c this week.
The tungsten price has subsequently been much stronger, with new owner
Tungsten Mining reporting earlier this week that significant price rises for the commodity in the second half of 2017 had been maintained in the March quarter.
Subiaco - based Vital Metals has agreed to sell its tungsten project in Queensland to
Tungsten Mining for a cash consideration of $ 15 million.
CMOC's core asset, the wholly - owned Sandaozhuang molybdenum -
tungsten mine located in Luoyang China, is one of the largest defined molybdenum reserves and second largest defined tungsten reserves in the world.
Not exact matches
China Molybdenum Co., Ltd. («CMOC») is primarily engaged in the
mining and processing, smelting, downstream processing, trade, research and development of molybdenum,
tungsten and precious metals.
These are the abandoned
mines, mills and waste piles in Zakamensk Rayon of Buryatia, which are left over from the Soviet - era Dzhidinski
Tungsten - Molybdenum Production Kombina.
Analyst Simon Moores said in 2016 that «any crimp in the cobalt supply chain would devastate companies,» which is likely why cobalt was oddly left out of a 2010 U.S. law requiring that four Congolese minerals (tin, copper,
tungsten, gold) be purchased from
mines free from militia control.
The
mining of some tin, tantalum,
tungsten and gold used in mobile phones has been linked to conflict in the Democratic Republic of the Congo.»
Allen & Overy is advising H.C. Starck, one of the largest companies in the global
tungsten industry, on its joint venture (JV) with Nui Phao
Mining Company (Nui Phao), a subsidiary of one of Vietnam ’s