Tungsten Mining (ASX:TGN) has announced a maiden inferred mineral resource estimate for its Hatches Creek Project in the Northern Territory. The estimate details 12 million tonnes at 0.17% tungsten trioxide and 0.12% copper within tungsten domains, and an additional 6.1 million tonnes at 0.29% copper within copper domains. The company believes Hatches Creek is suitable for ore sorting and other separation techniques. Preliminary metallurgical studies have already produced a tungsten concentrate grading at 50% tungsten trioxide.
Chairman Gary Lyons stated these results exceeded company targets. He emphasized the JORC mineral resource as a step toward the rapid evaluation and development of the Hatches Creek Project. Tungsten Mining hopes to support the global demand for tungsten, especially in the semiconductor, electronics, and defense sectors, offering a local supply to mitigate reliance on exports. China currently dominates approximately 80% of global tungsten supply. The resource estimate defines 20,900 tonnes of tungsten trioxide and 32,100 tonnes of copper. Projections indicate copper prices will average US$9,570 a tonne in 2025, increasing to US$9,870 a tonne by 2030, driven by investment in low emission technologies, data centers, and urbanization.
