What's Happening?
Tungsten Mining, an Australian developer, has released a scoping study for its Mt Mulgine project in Western Australia, highlighting its potential as a significant global critical minerals asset. The study positions
Mt Mulgine as a low-cost, long-life producer of tungsten and molybdenum, with additional copper, gold, and silver potential. The project is based on a large indicated mineral resource estimate of 175 million tonnes, supporting extended mine life and expansion potential. The company plans to start a prefeasibility study immediately, with completion expected in the second quarter of 2026, followed by a definitive feasibility study in the second half of 2027.
Why It's Important?
The Mt Mulgine project is significant due to its potential to become one of the largest tungsten deposits outside of China, a critical factor given the current high tungsten prices. This development could diversify global sources of critical minerals, reducing dependency on China. The project's success could bolster Australia's position in the global mining industry, providing economic benefits and job opportunities. Additionally, the project's focus on critical minerals aligns with global efforts to secure supply chains for essential materials used in various industries, including technology and defense.
What's Next?
Following the positive scoping study results, Tungsten Mining will proceed with a prefeasibility study, expected to conclude by mid-2026. If successful, a definitive feasibility study will follow, potentially leading to the project's development. Stakeholders, including investors and industry partners, will likely monitor these developments closely, as the project's success could influence market dynamics and investment strategies in the critical minerals sector.
