Australia has made a big move to stake a claim in an industry that’s been dominated by China for years. The Tasmanian Government has offered $10 million in funding to help a tungsten mine reopen on King Island in Bass Strait, around 80km northwest of the island state. The Dolphin Tungsten Mine, owned and operated by the ASX-listed company King Island Scheelite, has been closed for almost 30 years.
The mine operated between 1917 and 1992, before it was closed due to extremely low tungsten prices – not due to a lack of reserves.
But tungsten has been experiencing a global resurgence, with the mineral now essential in the manufacturing of weapons, electric vehicles and fighter jets.
The Dolphin Mining Project is located near the town of Grassy on the southeast coast of picturesque King Island, and produces scheelite, a form of tungsten....MORE
