PLYMOUTH'S tungsten and tin mine is set to enter full production in 2026 after it received £1.6m from investors. Tungsten West Plc, which is reopening the mine at Hemerdon near Plympton, will use the cash to start work on an updated feasibility study which it expects to complete by the end of 2024.
The company said this will lead to a new financing round in the second half of this year which will enable the company to restart production of tungsten and tin in early 2026. It raised £1.6m from its investors via convertible loan notes (CLNs), which are interest bearing loans convertible into shares.
It comes as the Environment Agency (EA) opened a third and final round of consultation on a permit application by Tungsten West subsidiary Drakelands Restoration Ltd, for restarting mineral processing at the Hemerdon mine.
Bu hikaye The Herald dergisinin April 01, 2024 sayısından alınmıştır.
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Bu hikaye The Herald dergisinin April 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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