Resource News

ASX:MLX

Tungsten producer Wolf Minerals just opened Great Britain’s first new metals mine in 45 years, and Metals X is Australia’s largest tin producer.

For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.
The Investing News Network is thus profiling companies on the S&P/ASX 300 Metal & Mining index. This week’s companies are Wolf Minerals (ASX:WLF,LSE:WLFE) and Metals X (ASX:MLX).


Tungsten-focused Wolf Minerals produced the first tungsten concentrate at its Drakelands open-pit mine at the beginning of September. The mine was formally opened on September 18, making the company’s Hemerdon tungsten and tin project the first new metals mine in Great Britain in 45 years.
Shortly thereafter, Wolf announced that commissioning of the mine’s processing plant had been completed after 18 months of construction.
“The conclusion of commissioning activities represents another major milestone in the development of the Project, and I congratulate the Wolf team, GR Engineering Services and their sub-contractors, who have worked together to safely achieve this landmark. With the inaugural shipment, Wolf has now realised its ambition of becoming a tungsten producer and we expect to supply high quality concentrate to our customers for many years into the future,” Wolf Managing Director Russell Clark said in a press release.

Metals X is a diversified metals company with tin, nickel and gold projects from exploration stage to production. It is Australia’s largest tin producer through its 50-percent-owned Renison tin project. Metals X acquired part of its gold portfolio through its acquisition of Alacer Gold’s (TSX:ASR) Australian business unit in 2013.
On Friday, the company announced that it’s completed dry commissioning of the Bluebird plant at its Central Murchison gold project. That’s a significant milestone, and Metals X expects to move to wet commissioning on low grade next week. First gold pour should be before the end of the month.

Securities Disclosure: I, Kristen Moran, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Wolf Minerals is a client of the Investing News Network. This article is not paid-for content.
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