Newcrest Mining is talking up the possibilities for its O’Callaghans tungsten deposit in Western Australia, claiming the site could become the biggest tungsten producer in the world within 4 years.
The deposit is thought to have more than $4.6 billion worth of resources, including tungsten, zinc, copper and lead.
Newcrest is yet to decide on its plans for the site: whether to sell the deposit, form a joint venture, or to mine the ore itself.
The deposit could enable Newcrest to take a 7% market share of the global output of tungsten. Currently, tungsten production is largely controlled by China.
Newcrest Mining ASX Code: NCM
Source: Market Analyser. Click here for a free software trial!
For more details on this news story:
- The Australian: “Newcrest talks up tungsten resources in WA”