17th Mar 2014 12:44
LONDON (Alliance News) - Wolf Minerals Ltd Monday said that work to build a new metal mine in the UK is underway, following the official ceremony at the site of the GBP123 million tungsten Hemerdon project in Devon.
The specialty metals development company said that subject to the finalisation of financing, production is expected to start in 2015 at the Hemerdon project and is scheduled to produce 3,450 tonnes of tungsten concentrate each year.
The Hemerdon tungsten resource is located in Devon's traditional mining heartland, to the south of Dartmoor, close to the area's ongoing major china clay operations.
The project is expected to generate approximately 300 direct and indirect jobs during the operational phase, it said.
Wolf Minerals said it will also shortly commence a major tree planting operation as part of an agreed package of mid- and long-term environmental measures, which will see the eventual restoration of the mine site following production as a mix of heath and woodland.
Shares in Wolf Minerals were down 1.8% Monday at 19.15 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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