Metalpedia
Metalpedia
  • Tungsten: industry news
  • Tasman Expands Critical Metal Portfolio with Acquisition of Tungsten Projects in Sweden
  • Mark Saxon, President & CEO, is pleased to announce the execution of an agreement to acquire a 100% interest in a portfolio of tungsten projects in the Bergslagen mining district of south-central Sweden. This new tungsten portfolio includes several of the largest known tungsten occurrences in Scandinavia, including the former Yxsjoberg mine which accounts for more than 90% of the tungsten previously produced in Sweden. The projects lie 200 - 300km north of company's flagship Norra Karr heavy rare earth element project and were purchased outright for a total consideration of 100,000 fully paid common shares in Tasman Metals Ltd and C$45,000.
  • Tasman has acquired 6 tungsten projects (Yxsjoberg, Gussarvet, Wigstrom, Sandudden, Gustavsberg and Gensgruvan) which are secured by 7 exploration claims totaling 3,680.4 hectares in size. All projects have extensive historic information including drilling, production and metallurgical data, and are supported by excellent road, rail and power infrastructure.
  • "Acquisition of this tungsten portfolio, including a former tungsten producing mine, has provided an excellent opportunity for Tasman to expand its position as a potential strategic metal supplier for Europe," said Mark Saxon, Tasman's President and CEO. "While we maintain focus on our globally significant Norra Karr heavy REE project, tungsten is an essential industrial metal that faces the same resource security challenges to REEs, with a Chinese supply monopoly and strongly growing demand. Tasman shall continue to seek additional aligned opportunities during this challenging market for junior resource companies."
  • The acquired tungsten projects are approximately centered on the Yxsjoberg mine where a mill and tailings dam remains on site. Simple road access links all project areas.
  • American company agrees to buy Molyhill tungsten
  • Thor mining secure a customer for their Molyhill tungsten resource north east of Alice Springs.Thor Mining is one step closer to developing a tungsten mine, at its Molyhill resource along the Plenty Highway north east of Alice Springs. American company Global Tungsten and Powders, has agreed to buy 70 to 75 per cent of the resource, that is predominately used in tools and electronics.
  • Once Thor Mining secures a customer for the remaining 25 per cent of the resource, Mr Billing says it will look to finance the operation, that is expected to have an initial mine life of four years.
  • If successful in its capital raising, Thor will truck concentrate from Molyhill to Alice Springs and then rail it to either Darwin or Adelaide for shipment.
  • Contents