Woulfe, Buffet Complete Tungsten Investment

Bloomberg reported Woulfe Mining Corp. (TSXV:WOF) and h a unit of Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) are nearing completion of a deal to start tungsten mining in South Korea.

As quoted in the market news:

Woulfe will raise $20 million in convertible notes in June to begin digging rock ready to be processed at the South Korean Sangdong mine, Chief Executive Officer Brian Wesson said in an interview in London. The company is waiting for Berkshire Hathaway’s IMC International Metalworking Companies BV unit to commit to $70 million of investment in the project.

Click here to read the full Bloomberg report.