RE: china21 Mar 2019 15:10
We understand that more environmental inspections are scheduled in China, and that resulting from these more closures are expected. Unfortunately, we have no way of confidently predicting any outcome from this [situation],” added Billing.
In 2017, global tungsten production hit 95,000 tonnes, up from 2016’s total of 88,100 tonnes. International output in 2018 is expected to top last year’s total, but if mines and projects are shut down and delayed, total output could be lower, creating scarcity and weighing on investor sentiment.
Global production expectations for tungsten were also reduced in late 2018, when Australian miner Wolf Minerals halted production at its Drakelands mine in England due to a bitter and prolonged winter coupled with ongoing funding issues.
According to Wolf, the site is home to the western world’s largest tungsten and tin deposit.
As Billing pointed out, “the closure of the Drakelands mine in England, while contributing to a shortfall in expected supply, has probably tempered investors’ enthusiasm for tungsten aspirants.”