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Tungsten Investing
W Resources’ La Parrilla Produces Tungsten and Tin Concentrate
Nov. 28, 2019 03:10PM PST
Earlier this month, the company reported that the machinery needed to ramp up production at the concentrator plant was in place.
Diversified miner W Resources (LSE:WRES,OTC Pink:WREOF) announced its flagship mine La Parrilla has begun producing tungsten and tin concentrate.
Earlier this month, the company reported that the machinery needed to ramp up production at the concentrator plant was in place.
Following the output increase, more than 5 metric tons of tungsten concentrate was produced, and 2.5 metric tons of tin concentrate is also on hand.
Now with both concentrates being produced at the Spanish mine, W Resources is well on track to processing its target of 2 million metric tons per year over the mine’s life with a goal of producing 2,700 metric tons of tungsten (WO3) concentrate.
“We have now reached this significant milestone at La Parrilla as we commence commercial tungsten and tin production and have achieved stable operating plant performance,” Michael Masterman, chairman of W Resources, said in the press release.
“We are pleased with initial concentrate production grades, which we anticipate will continue to improve as we move up the ramp-up curve and transition to 24-hour plant operations in December.”
The gold, tungsten and tin miner expects first shipments of its concentrate to go out sometime in December.
Demand for tungsten has climbed by 4.2 percent throughout 2019 with the tungsten alloy segment growing the most.
In terms of annual production, the majority of tungsten comes from China. The Asian country is also the largest consumer of the popular metal sought after by the construction, mining and oil and gas sectors for its wear resistant capabilities.
Spain is the eighth largest tungsten producer with annual output reaching 750 metric tons and reserves totaling 54,000 metric tons.
In addition to its flagship site La Parrilla, W Resources also owns and operates two other tungsten projects in Spain and Portugal as well as one copper-gold asset and one solely copper project in Portugal.
Shares of W Resources were up 3.6 percent on Thursday (November 28), trading for GBX 0.35.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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