Speciality metals one step closer to starting tungsten
Speciality Metals International Limited (ASX:SEI) has today provided an update on the refurbishment of its Mt Carbine Retreatment Plant, located in Far North Queensland.
Speciality Metals acquired the historic Mt Carbine Mine in June this year as part of the 100% acquisition of Mt Carbine Quarries Pty Ltd.
The acquisition sets Speciality Metals up to achieve its aim of becoming a pre-eminent tungsten producer.
The company has informed the market that all plant and equipment was delivered to the Mt Carbine site in full and in good order.
As such, Mt Carbine staff has started to assemble the newly arrived steel support structures in preparation for the equipment to be positioned over the coming weeks.
The electrical wiring and engineering work will commence once all equipment is in place.
“The Board is happy with the progress that has been made to date and is confident that it has sufficient and suitably qualified staff and equipment in place to ensure the construction phase is completed within the desired timeframes,” said Speciality Metals Executive Chairman Russel Krause.
“Further updates will be provided as the construction phase progresses.”
Speciality Metals was able to remove redundant plant and equipment and complete earthworks in the last couple of months and is working closely with the Cronimet team to bring the Mt Carbine Tailings Retreatment and Stockpile Projects back into production.
Earlier this year, Speciality Metals ratified a joint venture (JV) with Cronimet Asia Pte Ltd for the development of the Mt Carbine Tungsten Tailings Retreatment and Stockpile Projects.
Cronimet is a subsidiary of privately owned Cronimet Holding GmbH with a worldwide network and operations in 50 countries. Word has it, that they jumped at the opportunity to be involved with this tungsten project and add to its vast, global stable of mining and processing assets.
Production from the tailings retreatment is expected to commence during the December quarter of 2019.
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