The Hemerdon tungsten and tine mine is returning to AIM in the form of Tungsten West, following the administration of its previous owner Wolf Minerals. The history of the mine goes back many centuries, although it was originally focused on tin and copper.
Tungsten West bought the mine from Hargreaves Services, which is entitled to a fee of £1m a year for eight years.
The automotive, industrial and transport sectors are end users of tungsten. The main reserves of tungsten are in China and Russia and production has been declining, which makes the Hemerdon mine attractive.
The share pri...
