- Tungsten Mining NL (TGN) enters a memorandum of understanding with MCCI to establish a collaboration program for feasibility studies at its Mt Mulgine in WA
- The non-binding MOU outlines the framework for the completion of metallurgical test work and engineering services as part of an agreed value engineering study and definitive feasibility study
- The scope also includes assistance in procuring the project finance required to implement the Mt Mulgine project
- Tungsten Mining and MCCI have also agreed to collaborate on improving technical processes to increase concentrate grades and recovery rates for tungsten, molybdenum and copper, while lowering the project’s operating costs
- Tungsten Mining last traded at 13 cents on January 10
Australian tungsten developer, Tungsten Mining NL (TGN) has entered a memorandum of understanding with MCCI to establish a collaboration program for feasibility studies at its Mt Mulgine tungsten project.
MCCI is a wholly-owned subsidiary of Metallurgical Corporation of China, and is engaged in contracting and consulting services for high-end projects worldwide.
Mt Mulgine is located in the Murchison region of Western Australia, around 350 kilometres from Perth.
The non-binding MOU outlines the framework for a definitive binding agreement for the completion of metallurgical test work and engineering services as part of an agreed value engineering study and definitive feasibility study.
The scope also includes assistance in procuring the project finance required to implement the Mt Mulgine project.
Tungsten Mining and MCCI also agreed to collaborate on improving technical processes to increase concentrate grades and recovery rates for tungsten, molybdenum and copper, while lowering the operating costs related to the process flow sheet.
“The execution of the MOU with MCCI represents a great opportunity for Tungsten Mining to fulfil its promise to progress the development of Mt Mulgine Tungsten Project,” Tungsten Mining CEO Craig Ferrier said.
“We are delighted to be able to partner with an organisation with the capability and success of MCCI and look forward to a long and successful relationship.”
The MOU proposes MCCI will be appointed as engineering procurement and construction (EPC) or EPC management contractor, dependent on the agreed project delivery strategy.
If MCCI goes ahead with the construction of the project, it has requested to also participate in the operation and maintenance of the processing plant. Additionally, the parties have agreed to consider opportunities for MCCI to participate in the project through a minor equity investment.
Tungsten Mining last traded at 13 cents on January 10.