Tungsten mine 'could be fully open by 2025'

BUT FIRST IT MUST RAISE UP TO £65M AND OBTAIN PERMITS

- WILLIAM TELFORD

PLYMOUTH'S tungsten mine could be in full production by 2025 but needs vital permits to be granted and will have to raise up to £65m. Bosses at the Hemerdon mine say investors are keen to back the project but until the permits arrive they will need to slash costs and about 20 jobs could go this autumn.

If the permits are not approved before the end of 2023 the project could be in serious jeopardy. Tungsten West Plc has borrowed nearly £7m which will see it through this year and is relying on there being no delay to receiving the permissions.

But if all goes to plan, however, it will mean Tungsten West can press on with raising more finance, finish building the Mineral Processing Facility (MPF) and work towards full production. The mine, at Plympton, could be fully operating by 2025 and employ 300 staff, with a huge impact on the supply chain locally too.