LONDON: Listed miner Wolf Minerals has nearly finished building the UK’s first new metals mine in 45 years.
THE Hemerdon tungsten project in Devon has begun processing ore and is due to deliver to customers from September, the company said.
The $335 million project is the world’s fourth largest tungsten deposit.
Tungsten is one of the hardest and most heat resistant elements, best known as a light bulb fibre, but with various uses in making hard materials such as tools and weapons.
Prices have fallen this year but tungsten demand growth has exceeded global economic growth for the last decade, Wolf Minerals managing director Russell Clark said.
Wolf shares dropped one cent to 39 cents, but are up from 27 cents at the beginning of the year.
