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Birmingham Post

Business

Andrew Arthur

Tungsten West raises £7.1m to support Devon mine plans

Tungsten West Devon AiM Plymouth

A mining firm which is looking to revive production of the rare metal tungsten and tin in Devon has raised £7.1m to support the project.

Tungsten West is redeveloping the Hemerdon mine site near Plymouth, estimated to be the second-largest global reserve of tungsten. The metal is used in the production of light bulb filaments and cutting tools.

The AIM-listed company launched an interim funding round in April and a review of operating costs, capital expenditure, and sale of surplus assets, “multiplying” construction energy, fuel and construction costs, and having had to pause its plans for the mine last year.

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