"World tungsten production has fallen steadily from a peak of...

"World tungsten production has fallen steadily from a peak of over 55,000 tonnes of metal contained in 1990 to just over 30,000t in 1997, rising again to an estimated 45,000t in 2001. A prolonged period of relatively low prices for tungsten has forced many western producers out of the market, while the break up of the former USSR led to a collapse in tungsten production in that region. As a result, China is now the predominant tungsten producer in the world, accounting for over 85% of global output in 2001. Although Chinese producers have been affected by the low prices for tungsten, production of tungsten in China is now back to or even in excess of the level recorded in 1990. By contrast, output in the CIS/USSR is currently running at less than 30% of the 1990 level, while production in the rest of the world is only just over 10% of the level recorded in 1990. "...referenced off the net from an article titled China Tungsten Enterprisers Gather in Jiujiang Tungsten Salon Meeting Try Best to Control the Raising Price.

1990 was King Island Scheelite Project's last year of production, since then strong demand and short supply has pushed Tungsten spot price up, and GTN stands to benefit significantly fby getting involved with the King Island Scheelite Project.

GTN