Tungsten West Regulatory News (TUN)

15 December 2022

Tungsten West Plc

("Tungsten West", the "Company" or the "Group")

Key Permit Awards

Tungsten West plc (LON: TUN), the mining company focussed on restarting production at the Hemerdon Tungsten and Tin Mine ("Hemerdon" or the "Project") in Devon, UK, is pleased to provide an update on permitting, having received approval for the Mining Waste Facility permit and the Open Pit Water Abstraction Licence, two significant milestones within the Project plan.

Highlights

· Mining Waste Facility ("MWF") permit received from the Environment Agency ("EA")

· Open Pit Water Abstraction Licence granted by the EA

· Two further abstraction permits expected in early 2023

· Updated Mineral Processing Facility permit, taking into account the revised processing plan in the new Feasibility Study, is on track and is progressing through the approval process

· Further updates will be provided to the market regarding the permitting progress in 2023

As part of the Company's commitment to complying with the highest environmental standards, it has implemented an integrated environmental management system which includes water management, consisting of ISO 14001 (Environment), 9001 (Quality) and 45001 (Health & Safety). Tungsten West has also developed an environmental, social and governance ("ESG") strategy, which aligns with UN Sustainable Development Goals, International Finance Corporation Performance Standards, and the Sustainability Accounting Standards Board.

Tungsten West is committed to a vision of a safe and sustainable operation delivered throughout the business with professionalism, attention to detail and the empowerment of employees. Tungsten West prides itself on its respect for the environment, community, health, safety, sustainable working practices, and meeting the needs and expectations of all stakeholders.

We are focussed on providing significant economic benefits to the people and communities surrounding the mine, as well as the UK as a whole. .

Further Information

Mining Waste Facility permit received

The MWF permit has been received from the EA following a detailed process. The MWF permit covers all mining activities to be undertaken at the Hemerdon mine, including mining and water and waste management. 

In order to satisfy requirements of the MWF permit, Tungsten West was required to put key policies in place including, but not limited to:

· Waste management plan

· Waste characterisation report

· Geotechnical assessment

· Stability risk assessment

· Dust risk assessment

· Groundwater and surface water risk assessmen

· Environmental risk assessments

· Ecological risk assessment

· Ecological mitigation and enhancement strategy

· Restoration concept

· Assessment of potential downstream risks

· Surface water management plan

· Internal emergency plans.  

Abstraction Licence received

In addition to the MWF permit, the EA has also granted Tungsten West its abstraction licence to abstract water from the open pit. This permit is in addition to and complements the previously awarded permits as part of the overall site water management system.

Additional Permitting

Tungsten West has now successfully received two of the four permits required to restart mining at the Hemerdon Mine.

The two outstanding permits were submitted to the EA in 2021 are the Mineral Processing Facility permit, which is being progressed in line with the EA's process, and the remaining abstraction licence both of which are expected in Q1 2023.

Further updates will be provided to the market regarding the permitting progress in 2023.

Mark Thompson, Executive Vice Chairman of Tungsten West, commented:

"The approval of these two key permits demonstrates continued significant progress for the Company on its journey in recommencing production at Hemerdon.

"We believe that our commitment to upholding and adhering to international best practice in mining operations, environmental conservation and safe working practices will allow the Company to successfully receive the remaining required permits in good time to restart operations in the second half of next year.

"We look forward to keeping shareholders updated on progress made at the Project and all matters surrounding its permitting, in due course."

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019.

Enquiries

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