Tungsten West plc is in discussions for additional funds after its revised plans failed to meet the $49 million loan terms from Orion Resource Partners for the Hemerdon tin-tungsten mine in Devon. FINANCES In its audited results for the year ended 31 March 2022, the company said that the agreed financing package through a royalty […]
Tag: Tungsten West plc
Tungsten West ex-CEO no longer subsidiary director
Co-founder and former chief executive of Tungsten West plc Max Denning is no longer a director of the company’s subsidiary Aggregates West Ltd. Companies House today published the change recorded on 2 August 2022. Mr Denning left Tungsten West on 19 July 2022.
Tungsten West targets low cost mine operations
Tungsten West plc said it is to start construction immediately with lower-cost and streamlined production scheduled for H1 2023 at the Hemerdon tin-tungsten mine in Devon. INFLATION The decision follows a three-month technical and commercial re-evaluation of options for restarting production, which lead to a new development plan. The new plan is also in response […]
Tungsten West co-founder and CEO Max Denning leaves
Tungsten West plc said that chief executive officer Max Denning will leave his role and the board with immediate effect. The company added that executive vice-chairman and co-founder Mark Thompson had assumed the responsibilities of CEO. Mr Thompson previously held senior management positions at commodity trader Trafigura and its investment division Galena Asset Management, global […]
Tungsten West cuts HGV movements after opposition
Tungsten West plc said it would reduce proposed HGV movements per day by a third following public opposition to aspects of its plans to restart Hemerdon tin-tungsten mine in Devon. ORIGINAL PLANS In July 2021, Tungsten West received permission for a temporary increase of up to 150 transport movements per day from the mine site […]
Tungsten West pauses plan to review Hemerdon costs
Tungsten West plc said that rising inflation had prompted it to pause its development plan and evaluate other cost saving options for restarting Hemerdon tin-tungsten mine in Devon. SAVINGS Tungsten West added that any new plan would likely entail a lower capital cost for redevelopment, a reduced operating cost and production rate while retaining the […]