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Chinese geologists have carried out search for deposits of tungsten, copper, tin and zinc

14 July 2014

Employees of the Intelligence Service of the geological province of Hunan in China in early July of this year, provided the summary data for the period 2010−2013. Main direction geological exploration work has been focused on the search of copper, tin, tungsten and zinc in Tunshanlin, wherein the tungsten deposits found reached 250 tons, 4 gave positive results from drilling 6 in the geological survey performed about 5.5 thousand meters exploratory pits. This is a very significant figure for the region of Hunan, since tungsten reserves in known deposits amounted to 100 thousand tons. For financial performance is no small deal, as prices for Chinese ammonium paratungstate in calculations accept the bill increased, given the shortage of tungsten producers. The cost of the calculation of cash remains at the same level. At the beginning of July, the price of ammonium paratungstate is about 165−169 yuan per ton, and this level remained fairly stable even with an increase in the deficit contracted spot deliveries, which caused some minor stop production. The contract price of products remains at the previous level — 165−167 yuan per tonne in the calculation of cash and 168−169 million yuan for the goods in making accept the bill. The cost of export products yet also stable, frozen for two weeks at the level of 362−372 USD for one ton of material.

Australian authorities also are concerned about the mining of tungsten — in Tasmania, the island belonging to the King, decided to begin restoration work previously stopped development «Dolphin» on extraction of tungsten and scheelite. Engage in the development of the site will be the company «Australian Tungsten», the initial step involves pumping water. In general, all steps aimed at production start, take four months. Subsequent developments will be open for four years, and then will be transferred to the category of closed. The head of the Australian Ministry of Resources, commenting on the forthcoming work, expressed confidence that the launch of the quarry will provide local residents an excellent opportunity for obtaining jobs. This made the development would not affect negatively on the environment of the region.

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