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Berkshire Hathaway Invests in Korean Tungsten Project
Feb. 29, 2012 03:40PM PST
Critical Minerals Investing
Mining Weekly reported Warren Buffet’s Berkshire Hathaway International Metalworking Corporation has agreed to invest $80 million in Woulfe Mining’s (TSXV:WOF) South Korean tungsten project.
Mining Weekly reported Warren Buffet’s Berkshire Hathaway International Metalworking Corporation has agreed to invest $80 million in Woulfe Mining’s (TSXV:WOF) South Korean tungsten project.
As quoted in the market news:
The deal involves IMC buying a 25% stake in the shuttered mine for C$35-million, investing C$19.25-million in a joint venture to build a plant that will produce ammonium paratungstate (APT), the metal’s tradeable form, and agreeing to provide up to C$15.75-million in a loan to fund Woulfe’s share of the capital cost of the plant.