Owner Tungsten West says it could become one of the Western world’s most important sources of tungsten
A mine in Devon that holds one of the “most significant” deposits of tungsten in the Western world has entered production. Tungsten West, the owner and operator of the Hemerdon tungsten and tin mine near Plymouth, told investors on Tuesday (September 15) that ore was now being processed through the plant.
The mine – formerly known as Drakelands – ceased operations in October 2018 following the liquidation of its previous operator, Australian company Wolf Minerals. Aim-listed Tungsten West took ownership of the site in 2019 and has been working to revive production.
Jeffery Court, chief executive of Tungsten West, described the moment as a “landmark” one for his company.
“[The mine entering production] represents the culmination of an enormous effort by our team and partners to bring this strategically important mine back into operation,” he said.
“At a time when governments and industry are increasingly focused on security of critical mineral supply, Hemerdon has the potential to become one of the Western world’s most important sources of tungsten.
“Our focus now turns to safely ramping up operations and establishing Hemerdon as a reliable, long-term supplier of tungsten concentrate to the UK and its international partners.”
It is understood that Hemerdon could produce up to 20 per cent of the global supply of primary tungsten outside of China once fully operational. Tungsten is used within many industries, including in the automotive and defence sectors.
Following the start of processing, Tungsten West says it will now “progressively ramp up” operations towards targeted steady-state production.
Emma Reynolds, chief secretary to the Treasury, said: “Tungsten West is a great success story for Devon and demonstrates our vision to drive growth in every postcode and the reindustrialisation we need for good jobs across the UK.”
The news comes less than a month after the government announced its National Wealth Fund would inject £71m into the project. The funding comprises a £36m share acquisition, which will hand the government a 7.4 per cent stake in Tungsten and a seat on the board of directors, alongside a £25m loan facility.
Oliver Holbourn, chief executive of the National Wealth Fund, added: “Just a few weeks on from our investment, and we’re already seeing the first tungsten ore being processed at site.
“Through our investment, we want to unlock this strategic asset for the UK, secure a domestic supply of tungsten for our industry and bring jobs and opportunity to local communities. With today’s news, Tungsten West is delivering on the first step in that ambition.”
The Hemerdon project is expected to provide a significant boost to the West’s economy, including generating 350 direct jobs.







You must be logged in to post a comment Login