18th Sep 2015 07:43
LONDON (Alliance News) - Wolf Minerals Ltd said it opened the Drakelands mine at its Hemerdon tungsten and tin project in Devon on Thursday.
The specialty metals development company said the opening ceremony was attended by over 200 local and international guests, including members of the UK government.
"The successful financing, development and construction of this world-scale project marks the realisation of the company's goal of building and operating the first new metal mine in Great Britain for 45 years and becoming a significant producer of tungsten. Wolf has invested more than GBP140 million into the project and has created more than 200 permanent jobs, with many more involved during construction. The mine is expected to make a substantial contribution to the Plymouth, Devon and UK economies over the next decade," Managing Director Russell Clark said in a statement.
"Everyone involved is incredibly proud of this achievement and I hope that the successful delivery of this project proves to be a catalyst for a wider renaissance of metal mining in the UK," he added.
At full capacity Drakelands Mine is expected to be one of the largest tungsten concentrate producers in the western world, Wolf Minerals said.
Shares in Wolf Minerals were trading down 0.8% at 15.99 pence Friday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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