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Highlights
- Key mining applications submitted for Hatches Creek in response to China's tungsten export controls.
- Company eyes early-stage production leveraging strong demand for tungsten.
- Upcoming mineral resource estimate to enhance production strategy, with results expected by April 2025.
Tungsten Mining (ASX:TGN) has strategically submitted two vital applications for the Hatches Creek project, located in the Northern Territory. This action is crucial as China, the dominant player controlling around 80% of the global tungsten supply, has imposed export restrictions on this critical mineral. Given tungsten's applications in technology, defense, and clean energy, these regulatory moves suggest a potential rise in demand and pricing, echoing last year's trends with metals like gallium and germanium.
The Hatches Creek project, noted for its significant tungsten intersections, such as 5m at 2.05% WO3 and 15m at 0.44% WO3, positions the company well to meet anticipated market needs. The applications include a Mining Management Plan with the Northern Territory’s Department of Environment, Parks, and Water Security and a Mining Licence with the Department of Industry, Tourism, and Trade. These submissions are pivotal in securing the necessary environmental and legal permissions for mining activities.
Production Pathway
The pathway to early production considers a two-stage approach. Stage 1 focuses on processing stockpiles from historical mining, while Stage 2 aims at mining and processing tungsten-copper from an upcoming mineral resource estimate. The initial application covers Stage 1, with Stage 2 plans ensuing shortly thereafter.
Following successful drilling efforts, a maiden mineral resource estimate is in progress, designed to broaden the project’s resource base. This assessment will guide the potential for early-stage production, complemented by further engineering and testwork to refine processing flowsheets and optimize production methods.
Market Potential
The Hatches Creek project boasts high-grade tungsten prospects, bolstered by promising recent drilling outcomes. These factors enhance the project's potential to capitalize on favorable tungsten market conditions. The added copper mineralization presents further value to the overall venture. A detailed resource estimate, anticipated for market release by April 2025, will support the advancement of these strategic production initiatives.
