Abstract
This paper studies investments in new tungsten mining projects, analyzing in-depth five ready-to-go projects around the world that were presented to the financial markets by listed companies to obtain funds so that they could start operations in the near future: the Barruecopardo open-cut project in Spain (Ormonde Mining); Kilba open-cut project in Australia (Tungsten Mining); Hemerdon open-cut project in the United Kingdom (Wolf Minerals); Sangdong underground project in South Korea (Woulfe Mining); and King Island Scheelite, a mixed open-cut and underground project in Tasmania (King Island Scheelite). These investment projects were selected on the basis of having completed a Definitive Feasibility Study on October 2014 (Barruecopardo, Hemerdon, Sangdong and King Island Scheelite) according to Bloomberg. In addition, an Australian project was added within the study (Kilba) due to the high number of Australian mining companies that are developing tungsten mining projects around the world.The conclusions of this research clearly define the future direction in which mining reporting standards should develop in relation to feasibility analysis and provide a strong tool to address the initial steps for analyzing future investments in tungsten mining projects by estimating the initial investment and processing plant costs and operating costs based on the planned mining and processing parameters.
Highlights
The Raw Materials Initiative was developed to manage and evaluate responses to the raw materials policy at the European level (European Commission, 2013)
This paper studies the investment in new tungsten mining projects, analyzing in-depth five ready-to-go projects around the world that were presented to the financial markets by listed companies to obtain funds so that they could begin operations in the future: the Barruecopardo open-cut project in Spain (Ormonde Mining); Kilba open-cut project in Australia (Tungsten Mining); Hemerdon open-cut project in the United Kingdom (Wolf Minerals); Sangdong underground project in South Korea (Woulfe Mining); and King Island Scheelite, a mixed open-cut and underground project in Tasmania (King Island Scheelite)
We must highlight that the Kilba project has certain figures that do not match what can be considered “normal” in a feasibility analysis; to obtain the Net Present Value (NPV), it uses an Ammonium Paratungstate (APT) price of 440 USD/mtu, 22% greater than the prices used by Barruecopardo (350 USD/mtu) and Hemerdon (360 USD/mtu)
Summary
The Raw Materials Initiative was developed to manage and evaluate responses to the raw materials policy at the European level (European Commission, 2013). This paper studies the investment in new tungsten mining projects, analyzing in-depth five ready-to-go projects around the world that were presented to the financial markets by listed companies to obtain funds so that they could begin operations in the future: the Barruecopardo open-cut project in Spain (Ormonde Mining); Kilba open-cut project in Australia (Tungsten Mining); Hemerdon open-cut project in the United Kingdom (Wolf Minerals); Sangdong underground project in South Korea (Woulfe Mining); and King Island Scheelite, a mixed open-cut and underground project in Tasmania (King Island Scheelite) These projects were selected on the basis of having completed a Definitive Feasibility Study on October 2014 (Barruecopardo, Hemerdon, Sangdong and King Island Scheelite) according to Bloomberg. An Australian project was added to the study (Kilba) due to the high quantity of Australian mining companies that are developing tungsten mining projects around the world
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