12/11/2013 - 07:50

Wolf nears UK project approval

12/11/2013 - 07:50

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Perth-based Wolf Minerals announced a milestone in the environmental permitting process for its Hemerdon tungsten and tin project in Devon, south-west England.

Wolf nears UK project approval

Perth-based Wolf Minerals announced a milestone in the environmental approvals process for its Hemerdon tungsten and tin project in Devon, south-west England, with a proposed waste facility reaching the final stage before approval.

Currently in its draft form, the permit is undergoing a one-month public consultation period (which started on the 11th of this month), after which a final decision on the permit will be made.

"This is a very significant step in the development of the Hemerdon tungsten and tin project. Hemerdon will be the first significant mine to be built in the UK in over 45 years and the agencies have worked very closely with us to ensure we have a waste facility permit that provides protection for the broader environment and community," Wolf managing director Russell Clark said.

"Once in operation, the Hemerdon project will deliver over 200 full-time jobs to the region for many years to come, providing diversification in employment and new sources of income for many of the local community."

About 3 million tonnes of tungsten and tin mineral will produce 345,000 metric tonne units of tungsten trioxide concentrate and 450t of tin concentrate each year.

An offtake agreement has been reached with Global Tungsten & Powders and Wolfram Bergau und Hutten for 80 per cent of its tungsten concentrate output from the site.

The $212 million fully funded Hemerdon project oversees the world's third largest tungsten and tin deposit, with production planned for mid-2015.

Wolf shares are trading at 31 cents as of 745am, WST.

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