The AIM-listed company has hailed a year of ‘significant progress’

A company looking to revive a mine in Devon that holds a rare critical metal has reported a “year of significant progress” after raising tens of millions of pounds for the project.

AIM-listed Tungsten West is working to restart production at the Hemerdon tungsten and tin mine near Plymouth – one of the largest tungsten resources in the world.

In an update to the stock market, chief executive Jeff Court told investors the project was now “fully funded” and remained “on track and on budget” to restart production in the first quarter of next year.

His comments came as the company narrowed its losses to £7.9m for the year ending March 2026 from £19m the year previously. The firm said this reflected the main initiatives conducted during this period, including finalising a feasibility study and pre-operational readiness activities.

The news comes just days after the government’s National Wealth Fund confirmed it would inject £71m into Tungsten West in a bid to support the reopening of the Hemerdon mine.

The Plympton-headquartered company, which focuses on the mining and extraction of metals including tungsten and tin, took ownership of the site in 2019 and has since invested years completely reconfiguring the processing layout and obtaining fresh environmental permits.

“We have achieved strong progress and remain on-track and on budget for full commissioning in Q1 2027, most importantly, with no lost time injuries,” said Mr Court.

“We have also achieved the significant milestone of first production from our restart project already in Q3 2026. The financial results reported for the previous financial year reflect the strategic pivot of the company to a development project and full-scale production early next year.”

Mr Court told investors that initial production was “already underway” at the mine, adding: “We look forward to the progress towards full commissioning in Q1 2027 (calendar year). I would like to thank all our stakeholders for their continued support.”

Tungsten West’s annual general meeting will be held at the company’s offices in Plympton at 1pm on September 29.

Fifteen years ago there was almost no market for avocados in India, remembers Sunil Bopaiah.

Ripe fruit would fall off trees and be eaten by dogs, earning avocados the unappetising name dog fruit, he says.

Bopaiah has been working in India’s plantation industry for 26 years, he’s currently group manager at Cottanad Plantations, which grows cocoa, rubber, coffee, spices and fruits, including avocado, in the hills of Wayanad in the southern Indian state of Kerala.

“We never planted avocado as our main crop. We introduced it as a shade tree for coffee plantations, and only later realised it could become a profitable business,” he says.

He says the turning point was around 2011 when Bollywood star Shilpa Shetty said she used avocado for skincare.

“Overnight, prices doubled and then kept rising,” he says.

Cottanad has responded to that demand by planting avocado trees on 40 acres. Last year they harvested between 10 and 15 tonnes of fruit. In three of four years time they hope to raise that to 40 to 50 tonnes.

There’s been a lot to learn.

“We completely changed the way we grow avocados after learning from South African experts. Today we use raised beds, wider spacing and different planting methods because avocado roots are highly vulnerable to diseases,” Bopaiah says.

There’s plenty of scope for Indian farmers to step-up production.

“When we studied the market, we found a huge gap between demand and supply. India imports around 15,000 tonnes of avocados every year, while domestic production is only about 8,000–9,000 tonnes,” says Manilal Palliyath who helps promote India’s avocado industry.

He sees a big opportunity for farmers, particularly as traditional crops have suffered.

“Coffee and pepper have suffered because of changing climatic conditions, making diversification essential for farmers.”

More than 15,000 popular children’s squeeze toys have been recalled over serious injury hazards linked to the beads they contain, according to federal regulators.

Two recalls have been issued — one for Squeezy Dumplings from GIHNJSI and one for Rainbow Mystery Squishy Buns from OKK Trading.

Both products contain water beads, which could expand within a child’s body if ingested, posing a potentially deadly hazard, the Consumer Product Safety Commission said in its notice. The toys violate the mandatory federal safety standard for toys because the water beads can expand beyond the allowable size.

“If a water bead is ingested, it can pose ingestion, choking, and intestinal obstruction hazards inside a child’s body, resulting in severe discomfort, vomiting, dehydration and a risk of death to a child,” the commission said.

WEIGHT-LOSS SUPPLEMENT RECALLED AFTER FDA FINDS TOXIC SUBSTANCE

More than 15,000 popular children’s squeeze toys have been recalled. (Consumer Product Safety Commission)

About 8,000 Squeezy Dumplings are affected by the recall. They were sold online at Amazon between May and June for about $20. “SQUEEZY DUMPLINGS” and “SQUEEZE ME” are printed on the label.

Roughly 7,200 Rainbow Mystery Squishy Bun Toys are subject to the recall, sold at various third-party stores nationwide from May to August. “Rainbow MYSTERY” and “SUGAR EDITION” are printed on the front of the package labeling. 

Both toys are translucent, round squishy balls with cartoon faces and glitter-like particles and water beads on the inside. The toys come in a tan plastic container shaped like a bamboo steamer.

Consumers are urged to stop using both toys immediately and contact the appropriate company for a full refund. (Consumer Product Safety Commission)

Consumers are urged to stop using both toys immediately and contact the appropriate company for a full refund. To receive a refund, consumers should write “RECALLED” on the toy and its container, dispose of the product, and email a photo to the recalling company, according to the CPSC.

No injuries have been reported thus far in connection with either toy.

Additionally, the commission is warning consumers to immediately stop using Squishy Bun Toys from Ivyapingdianpu and to dispose of them, saying they violate mandatory safety standards for toys.

These toys also contain water beads, but the retailer has not agreed to a recall the product or offer a remedy to consumers despite receiving a Notice of Violation, according to the commission.

WALMART MANGOES RECALLED OVER POTENTIAL SALMONELLA CONTAMINATION

The commission is warning consumers to immediately stop using Squishy Bun Toys from Ivyapingdianpu. (Consumer Product Safety Commission)

WALMART MANGOES RECALLED OVER POTENTIAL SALMONELLA CONTAMINATION

About 106 of these toys are affected by the warning. They have “SQUISHY BUN” and “Rainbow MYSTERY” printed on the front of a removable tag.

These toys were sold online at Amazon in June 2026, but they may also have been sold by various third-party sellers and on other websites.

No injuries have been reported in connection with these toys. Anyone with a child who experiences any injuries related to these Squishy Buns or who notices any defects is urged to contact the commission.

More than 650 businesses, including B&Q, Five Guys and Serco, have been named by the government for failing to pay some of their employees the minimum wage. The 658 employers on the list have repaid a total of about £4m to more than 27,000 workers.

The Department for Business & Trade published the list on 3 September and said the repayments followed “robust” enforcement action. Ministers said penalties totalling £7m had been issued to employers found not to be paying the legal minimum.

Jonathan Reynolds, the business secretary, said: “Short-changing your staff isn’t a shortcut to success and we are determined to stamp it out.”

Kate Dearden, minister for the future of work, said: “Underpaying your staff is illegal, and we will not let workers foot the bill for their boss failing to follow the rules.”

The government said it was committed to publishing naming lists more regularly so that employers were swiftly held to account and made improvements as quickly as possible. A previous naming round covered 239 employers who underpaid 22,400 workers a total of £1.44m.

B&Q tops the list

B&Q, the DIY retailer, was at the top of the list after failing to pay 4,530 workers correctly, owing them a total of £456,934. The company said the shortfalls in payments were “unintentional” and “related to calculations involving geographical allowances which are paid in addition to minimum hourly rates”. The affected employees were paid in full in July 2025, the company said.

Elysium Healthcare Holdings 3 Limited was second on the government’s list, owing £330,048 to 1,095 workers. St George’s, Epsom and St Helier Hospital Group owed £123,331 to 75 workers, while Support Staff Services Limited owed £119,715 to 323 workers and Forest Holidays owed £100,308 to 598 workers.

Five Guys, the burger chain, was named for underpaying almost 3,700 of its workers a total of £54,642. “Following an HMRC review, technical differences in how payroll regulations were applied affected our national minimum wage calculations, resulting in a shortfall of approximately £55,000 across a payroll of more than £330 million,” the company said. It added that it had paid all current and former staff affected.

Serco underpaid 374 staff a total of £36,303. A spokesman for the outsourcer, which provides services to asylum hotels, defence programmes, hospitals, schools, offices and prisons, said the shortfall came from a technical error that affected one contract more than two years ago and related to salary sacrifice schemes. “It was quickly rectified once identified and all employees were reimbursed in full,” Serco said.

Whitbread, the owner of the Premier Inn hotel chain, appeared on the list after failing to pay 342 employees a total of £4,193. The FTSE 100 company said the shortfall was caused by an administrative error which has since been rectified.

Rates rose in April

The minimum wage, known as the national living wage for those aged 21 and over, was introduced more than 20 years ago. The rate for over-21s rose to £12.71 an hour on 1 April 2026, with the rate for 18 to 20-year-olds increasing to £10.85 and the rate for under-18s and apprentices set at £8.00. The rates change on 1 April every year, according to the government.

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.