By Brian Sylvester
Location, processing and capital can make the tungsten market a tough place to be, but dwindling supply and insubstantial production indicate a coming price swing. In this interview with The Metals Report, Ken Chernin, equity research analyst with Jennings Capital, talks about why investors have ignored tungsten in the past and why they should see tungsten as a global force. Read more
By Cathy Chan
KKR & Co. (KKR), the private-equity firm run by Henry Kravis and George Roberts, will more than double its stake in a unit of Vietnam’s Masan Group Corp. (MSN) to $359 million, its biggest investment in Southeast Asia.
The U.S. firm will invest an additional $200 million in Masan Consumer Corp., a Vietnamese fish sauce maker, the largest private-equity deal in the country, according to a joint statement today. KKR bought a 10 percent stake for $159 million in April 2011, its first acquisition in Vietnam. Read more
By Lawrence Williams
One can probably count the number of operating primary tungsten mining operations located outside China on the fingers of one hand, yet this is a critical metal for its varied applications. Depending on who you talk to though, the supply/demand ratio is either in a small surplus, or a small deficit, which probably means it is pretty much in balance. Prices have come off a bit from their peak, but still remain at a relatively healthy $340/metric ton unit (mtu), but down from $445-460 last year. Read more
By Firat Kayakiran
Woulfe Mining Corp. (WOF), preparing to close an investment agreement with a unit of Warren Buffett’s Berkshire Hathaway Inc. (BRK/A), will start up a tungsten mine next month that it projects will become the biggest in the world.
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. Read more
Countries dependent on Chinese supply of strategic metals are pursuing strategies to respond to potential shortages of these metals. But while China’s dominance is causing due cause for concern, it also opens up opportunities for juniors developing alternative supplies outside China, writes Liza Mayer.
By Sarah-Jane Tasker
A QUEENSLAND miner with German backers has put Australia back on the map for tungsten mining, shipping the first concentrate from its previously mothballed operation.
Wolfram Camp Mining chief executive Gus Phillips said the mine, known as a prolific tungsten Read more
Adex Mining of Toronto has updated its development plan for the Mount Pleasant mine 80 km south of Fredericton. The company has decided on restarting production from the Fire Tower zone (FTZ) containing tungsten, molybdenum and bismuth mineralization.
Having set a start-up date of early 2015, the company has begun metallurgical feasibility testing. The reopening plan also includes the production of potential final marketable metal products Read more
North American Tungsten of Vancouver reports Q3 production of 74,629 tonnes of WO3 from its CanTung underground mine in the Nahanni area, 300 km north of Watson Lake, YT. That number was 71% higher than the 43,727 tonnes of WO3 produced in Q2. The mill treated about 100,000 tonnes or ore that averaged 1.03% WO3. Mill availability was 97%.
The company says consistent power, a higher feed grade, high mill uptime, and good recovery all added to the increase. Read more