top 10 world production of tungsten

Hi all

Below is a list of the Top 10 Production of Tungsten in the World as of 17/6/2012, we all know that China is the biggest and supply’s over 75% of world Tungsten.

World Concentrate Production, By Country (Metric tons, tungsten content)

1China51,000
2Russian Federation2,500
3Canada1,964
4Bolivia1,023
5Austria900
6Portugal900
7Thailand600
8Peru502
9Brazil500
10Rwanda499

http://www.indexmundi.com/minerals/?product=tungsten&graph=production

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Now at number 2 is Russia which I wasn’t aware of Russia product just 2,500 tonnes of tungsten.

Now do you see where I’m going with this ?

Once WLF starts mining its Tungsten at Hemerdon in Devon, within 18 months of the mine being started WLF will jump to number 2 in the World, that’s right number 2 in the World Production of Tungsten. The redevelopment of the Hemerdon mine is expected to be completed by 2013 pending approvals.


A Quick Summary of WLF


1. Existing Planning Permission (Mining License) in place for 10 years has potential to expand the life of the mine to 14+ years.

2. A strong and valuable support from the UK Government, as well as from the mining industry within the UK, and also from the Devon County Council.

3. Offtake. WLF has a agreement with Wolfram Bergbau und Hutten (WBH) and Global Tungsten & Powers Corp (GTP), (The signing of a long-term offtake contract with two of the largest tungsten producers represents a significant milestone for WLF ), the offtake agreement would cover 80% of Hemerdon’s production, over a minimum of 5 years, WBH and GTP would also provide a £20-million loan facility to WLF for funding of the redevelopment of the mine.

4. Finance. WLF has raise AU$5 million from its senior shareholders Resource Capital Fund V (RCF) and Traxys Projects LP (Traxys) two of the Company's major shareholders, also WLF has secures £55-million to finance the mine, from mining project finance specialists UniCredit Bank, ING Bank and Caterpillar Financial, also don’t forget the £20 million for the offtake. ( WLF has secured £75 million + AU5 million It will cost about 120 million pounds ($190 million) to build the mine so we need to raise another £45 million pounds, I’m sure that we will get the rest to finance the project of our mine in Hemerdon.

5. Growth of Tungsten. The future of a Tungsten supply from outside of China is needed for both Europe and the UK, China controls the market in Tungsten of 75%, Europe and the UK will need a supply of Tungsten not from China.

6. Operating cost of the mine. WLF is forecasting about $105 per tonne operating cost of its mine, WLF will be the lowest unit cost Non-Chinese Tungsten producer in the World, ATM the price of tungsten is about $400/mtu, the price of Tungsten will need to fall a long way before WLF stops mining Tungsten.

7. WLF Shares. WLF has 86,372,195 million shares, also has 21,570,533 Options expiring at $0.235 on or before 30 September 2012.( with the options expiring by September 2012 WLF will have another $5 million if they all get taken out) WLF will have about 107.9 odd million shares on its list which is still very low.

8. Warren Buffett invested US$80 million on a company in South Korea for a stake of 25%. Now that alone tells me that he (Buffett) has confidence in the future need of Tungsten.


Now the other thing to consider is the state of the World’s Market today, what will happen in Europe next week or next year no one knows really, but sooner or later there will be a tungsten mine in the UK and that mine will belong to WLF and its shareholders.


http://www.bloomberg.com/news/2012-04-03/england-challenges-china-by-reviving-strategic-mine-commodities.html

http://tungsteninvestingnews.com/2366-tungsten-outside-of-china-wolf-woulfe-malaga-emc-king-island-scheelite-offtake-agreement.html



Good luck to all that holds WLF