DGAP-News: Deutsche Rohstoff AG:
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Deutsche Rohstoff AG:
06.03.2012 / 10:41
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Deutsche Rohstoff AG: Wolfram Camp Mining ships first concentrate
WCM becomes Australia's only producing tungsten mine/Further exploration
planned
Wolfram Camp - Heidelberg. Wolfram Camp Mining (WCM), the fully owned
subsidiary of Deutsche Rohstoff AG (DRAG) has announced that the first
tungsten concentrate produced from the Wolfram Camp mine in Far North
Queensland is currently en-route to offtaker Global Tungsten&Powders
Corp. in Towanda, USA.
Chief Executive Officer of WCM, Gus Phillips, commented: 'Today is a
significant milestone for both DRAG and WCM in establishing a project of
this value and scope. To have our first commercial shipment underway has
been an excellent achievement, this would not have been possible without
the dedication and experience of our management team and all site
personnel. We are delighted to be the first primary tungsten miner in
Australia since the mid-1980s and the team on site should be very proud of
this achievement'.
Wolfram Camp Mining, commenced project development in July 2011, with
subsequent plant commissioning and initial production in November 2011. WCM
is extremely pleased to have achieved a 65% - 70% WO3 concentrate for the
first shipment. In the coming months, the priority is optimizing the
treatment plant, which will include the installation of an x-ray ore sorter
developed in Germany. From about mid-year, the planned daily production
shall reach four tons of WO3-concentrate and increase to six tons per day
in the third quarter. At that time, molybdenum concentrates will also be
produced.
Wolfram Camp mine is forecast to produce approximately 7,000 tonnes of WO3
concentrates and 800 tonnes of molybdenum concentrates over the next 4
years. These production outputs will account for approximately 2% of the
total global tungsten production.
Additional exploration will be focused on the expansion of the current
(JORC) inferred + indicated resource of 1.42m tons (at) 0.60% WO3 + 0.12%
MoS2. Drilling to the northwest of the current open pit is scheduled to
commence in April 2012 with a revised resource model and optimized mine
plan to be completed by the end of the year. Wolfram Camp Mining also holds
in excess of 300 km2 of surrounding prospective terrain under granted
exploration tenements and tenement applications, which will be
systematically explored for related rare metal (W-Mo-Bi) mineralization to
further extend the life of the project.
The currently defined mine resource at Wolfram Camp mine was confined to
600 meters within the known mineralised zone containing historical mine
workings over a strike length of 1.5 kilometres. There is enormous
potential to increase the current resource along strike and at depth.
This first shipment brings Australia back on the world map of tungsten
mining. Australia was a key primary source for tungsten until the mid-80's,
however all Australian tungsten mines were subsequently decommissioned due
to prevailing low prices for tungsten concentrates. Wolfram Camp, known as
prolific tungsten area since 1890, is the first Australian tungsten project
to resume production. Another nearby former tungsten mine, Bamford Hill,
has also been acquired by Deutsche Rohstoff AG recently. Before World War
One, North Queensland was the world's biggest tungstensupplier, with
Wolfram Camp and Bamford Hill as key mining centres.
Heidelberg, 6 March 2012
Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard
segment of Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on gold, oil&gas and so called
high tech metals such as tin, tungsten, and rare earth metals. All projects
are located in countries marked by political stability, the core area being
Germany. The business concept is based on redeveloping deposits which have
been well explored in the past. For more information please visit
www.rohstoff.de.
Contact:
Thomas Gutschlag
gutschlag(at)rohstoff.de
+49 6221 871 000
End of Corporate News
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159437 06.03.2012
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