DGAP-News: Deutsche Rohstoff AG: Wolfram Camp declares start of commercial production
(firmenpresse) - DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Wolfram Camp declares start of commercial
production
21.11.2013 / 09:30
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Deutsche Rohstoff: Wolfram Camp declares start of commercial production
Exploration leads to increased resource inventory/Board approves 10-year
mine plan
Heidelberg/Brisbane. Wolfram Camp Mining (WCM), 100 % owned subsidiary of
Deutsche Rohstoff, officially declared start of commercial operations from
November 1st on. This declaration is following the achievement of budget
production thresholds for mining and processing, together with steady state
shipments of high grade tungsten concentrates to project off-take partner
Global Tungsten&Powders. From the date of commencement of the commercial
production, WCM expects a profit from operations. Simultaneously, regular
depreciation of assets starts. Management of WCM approved a 10-year mine
plan on the basis of the experience, knowledge and exploration successes of
the last two years, which will serve as a basis for future budgeting.
Titus Gebel, CEO of Deutsche Rohstoff, commented: 'Wolfram Camp Mining is
now an established tungsten producing company, with a long mine life.
Furthermore, the company is the only significant producer of tungsten
concentrate in all of Australia. Given the limited global opportunities for
new tungsten projects to come online in the near future and the challenging
supply situation, we think WCM has positioned itself as an asset of real
strategic value.'
Additional exploration and a detailed review of future ore supply have
identified open pit and underground extensions to the current resource
model at both Wolfram Camp and Bamford Hill, which extends the operational
life of the project beyond 10 years. It includes open pit mining as well as
underground operations. The updated estimated inventory amounts to
approximately 3.8 million tonnes (at) ~0.4%WO3 (tungsten trioxide). This is
not a classification in accordance with the JORC standard but an assumption
based on the experience gained over the past two years including the
existing JORC resource estimate of 1.42 million tonnes (at) 0.6% WO3 for the
current open pit area, supplemented by successfully explored areas. It is
planned to continue the exploration work to further define the resource and
to also identify additional mineralization.
An example for the possibility to constantly increase the ore available is
the recently completed exploration program in the area 'Parrots'. It
provided numerous near-surface mineralizations adjacent to the current pit
that had not been included in the JORC resource. Mining of this zone will
begin within the next few weeks, parallel to the current operations. It
will generate additional ore for processing over the next ten months.
Economically, it is particularly interesting because it contains only few
impurities and can be mined with a very low- strip ratio of almost 1:1.
Tungsten is one of the metals that is considered of strategic importance by
the Federal Government of Germany and the EU Commission. Around 85% of
world production comes from China. There have been export quotas in China
for several years and a ban on foreign companies to explore for tungsten in
China or to produce it. Due to its hardness and the extremely high melting
point of 3,422 degrees Celsius tungsten is used in the hardening of tools,
production of machine tools, as an alloying metal in the steel industry,
for incandescent lamps, in the catalyst preparation as well as numerous
other industrial applications. Wolfram Camp is one of the few tungsten
mines outside of China.
Heidelberg, 21. November 2013
Deutsche Rohstoff (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 oil&gas and so called high
tech metals such as tin, tungsten, and rare earth metals. All projects are
located in political stable countries with high environmental standards.
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:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
info(at)rohstoff.de
End of Corporate News
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21.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag(at)rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in
Open Market (Entry Standard)
End of News DGAP News-Service
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240988 21.11.2013
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Datum: 21.11.2013 - 09:30 Uhr
Sprache: Deutsch
News-ID 318984
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Kategorie:
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