Group 6 Metals (ASX: G6M) has successfully redeveloped the historic Dolphin Tungsten Mine, on King Island, Tasmania which had been closed since 1992. Production at the mine has commenced with a new processing plant to produce high-quality product.
Previously operated between 1917 and 1992, the mine was closed due to extremely low tungsten prices with approximately 50% of the known mineral resource yet to be mined.
Today, the Dolphin Tungsten Mine hosts the highest-grade tungsten deposit of significant size in the western world.
Learn MoreCommercial production of tungsten achieved in July 2023. First concentrate produced and first export sales expected early Q3 CY2023.
Current project life of 13 years with significant potential for expansion at nearby Bold Head and additional exploration leases.
Tungsten has been identified as a strategic critical mineral with strong fundamentals for sustained growth.
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Revised Feasibility Study in December 2020 delivered an NPV of A$241m with capex of A$73m and cash operating costs of A$126/mtu WO3 with operating margin based on APT prices of ~A$195/mtu.
Strength and diversity in high demand
Current Tungsten price US$305-$325/mtu as of September 2023 LEARN MORE
