Britain's tungsten resources signed two contracts for tungsten concentrate

       On February 23, tungsten developer company Resources (W) of tungsten Resources in Britain has with the Spanish pull parry (La Parrilla) mine off-take agreement, off-take agreement covers pull parry T2 development project, and accounts for about 80% of the output of this phase, in addition, also is "competitive pricing clause" to reach an agreement.

One of Europe's largest tungsten mines, la parilla, was acquired by the UK's tungsten resources in 2013 and owns 100 per cent of the company. In April 2017, Golder Associates estimated that the amount of the mineral resources of la parilla was 49 million tons, of which WO3 content was 0.10% and tin content was 0.011%.

According to the final investment decision by W Resources in August 2017, the la palila project will be divided into two phases. The first phase will increase the annual production of raw ore to 2 million tons and produce 2,700 tons of tungsten concentrate (WO3) annually. The second stage is expected to increase to 3.5m tonnes in two years, with a tungsten concentrate production of 4,000 tonnes, which is expected to increase to 3.2m tonnes in the third year and 3.5m tonnes in the fourth year.

In addition, Wolfram Bergbau undHuttenAG (WBH), Europe's largest tungsten processing company, will provide 66 per cent of tungsten concentrate. Michael Masterman, President of the company, said the tungsten products would be delivered directly to the customer's most advanced and high-capacity tungsten processing plant. These agreements will provide a stable source of revenue for the company after production begins in early 2017.



WBH President Ulrika Wedberg added, "we are pleased to see the development of another tungsten mine in Europe and look forward to adding the production of the la parrilla mine to our supply mix."

Britain tungsten resources company is through the Black Rock of loans, the capital increase pull Paris project development, determine in December last year $30 million in financing, capital increase to $35 million in January, and on February 16, confirmed the first $13.125 million.