Posted in | News | Molybdenum | Tungsten

Woulfe Mining Announces Revised Cost for Sangdong Tungsten-Molybdenum Project

Woulfe Mining Corp announced that it would be able to develop the Sangdong project in South Korea for half the estimated cost. The tungsten-molybdenum project can be developed for an estimated $135 million. The estimate last year was for a cost of $289 million and it was targeting a 2.4 million tonne per annum production.

The mine is likely to have an annual production of about 1.2 million tonnes. The company is now fast tracking the construction of the project. They plan to construct a 1.2 Mta process plant and a bulk underground drift and fill mining operation. They intend to target the 25% of the deposit which is located above the valley floor on the east side of the mine.

The Chief Executive Officer of Woulfe Mining, Brian Wesson said that they were moving forward rapidly as the tungsten market was very strong and molybdenum was expected to strengthen over coming months.

Mr Wesson added that the costs will be benchmarked in Korea later this month as Woulfe has gone out for pricing to reputable engineering construction companies in Korea for the crushing and grinding. There is a change of capital cost estimates changing again as the company is to take a feasibility study in the coming months.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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