CAPITAL MARKETS

King Island back on the tungsten map

THE HISTORIC mining town of Grassy in the middle of Bass Strait could soon return to its roots with Sydney-based sapphire miner GTN Resources funding a $250,000 feasibility study on the re-development of the King Island Scheelite project as a major tungsten producer by 2006/07.

Michael Quinn

Under consideration is a potential 400,000 tonne per annum underground mining operation from 2006 costing around $15 million to develop (plant and mine) and producing around 5% of the world’s tungsten....

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