US Company to Buy Molyhill Tungsten

Thor Mining (LSE:THR, ASX:THR) is closer to developing its Molyhill tungsten mine in Australia after US company Global Tungsten and Powders agreed to buy up to three-quarters of the resource, ABC Rural reported.

As quoted in the market news:

Executive chairman Mick Billing, says it was essential that Thor secured a customer before financing the mine.

Once Thor Mining secures a customer for the remaining 25 per cent of the resource, Mr Billing says it will look to finance the operation, that is expected to have an initial mine life of four years.

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