Group 6 Metals (ASX:G6M) has produced its first tungsten concentrate at its wholly owned Dolphin Tungsten Mine (DTM), located on King Island in Tasmania, Australia.
The company reports the construction of the processing plant is nearing completion, with performance testing underway to achieve 400,000tpa processing capacity.
Commenting on the tungsten concentrate production, Group 6 Metals Chief Executive Officer (CEO) and Managing Director Keith McKnight says: “Production of first concentrate at the Dolphin Tungsten Mine is another significant milestone for Group 6 Metals and is a credit to the hard work and dedication of our site team and contractors.
“The process plant has been running 24hrs a day for the past week, processing lower-grade commissioning iron ore”
The process plant has been running 24hrs a day for the past week, processing lower-grade commissioning iron ore. The team will now turn their focus to performance testing to increase throughput grade and recovery.”
Group 6 says the start of the production at DTM is a ‘significant’ milestone for the company and positions it to capitalise on the increasing demand for tungsten to become a leading producer of tungsten concentrate.
Tungsten is a critical mineral used in a variety of applications, including steelmaking, mining, construction, electronics, and defence. Group 6 says the global demand for tungsten is expected to grow in the coming years due to the demand from the construction, mining, and defence sectors, alongside new applications in the battery and technology sectors.
McKnight says: “The tungsten price has remained strong over the past 12 months, supported by increased demand, supply disruptions from 2 of the largest producers in China and Russia and global inflationary pressures, which have led to higher prices for raw materials, including tungsten.”
Additionally, the company is reminding eligible shareholders that its Share Purchase Plan (SPP) closes at 5:00pm AEST on Thursday 22 June 2023.
Group 6 Metals is an ASX-listed exploration and development company focused on the development of its wholly owned Dolphin Mine, which produces ‘high-grade’ tungsten concentrate.
The company intends to value-add the product for supply into the upstream tungsten industry.
Write to Aaliyah Rogan at Mining.com.au
Images: Group 6 Metals Ltd