Hazelwood Resources $7.5M for Vietnam Plant

Hazelwood Resources Ltd (HAZ), focused on becoming Australia’s only Tungsten producer with 2 to 3% of world production, will raise US $7.5-million through a share placement to fund the construction of a ferrotungsten processing plant in Vietnam.

Hazelwood’s Managing Director Terry Butler-Blaxell is quoted saying:

“Hazelwood is pleased by the strong support received from investors for Hazelwood’s integrated tungsten business strategy, particularly in light of recent weakness in global financial markets.”

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