11th Feb 2014 10:31
LONDON (Alliance News) - Wolf Minerals Ltd Tuesday said it had authorised its contractor to start the construction of its Hemerdon tungsten and tin project in the southwest of England, setting it on a timetable for commissioning and first production in mid-2015.
"The commencement of construction follows the finalisation of the purchase of requisite residential properties around the project site required by the project's planning permission, the issuance of the environmental permit required for the mining waste facility, and the signing of the 40 year lease with the project's landowners," the specialty metals development company said in a statement.
The construction is being carried out by GR Engineering Services Ltd. Wolf Minerals is paying GBP75 million over two years for the design, build and commissioning of the plant, which is expected to produce 3 million tonnes of metal a year.
Wolf Minerals shares were up 4.5% at 29.94 pence Tuesday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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