https://www.engineeringnews.co.za

W Resources applies for govt grant for La Parrilla expansion

17th May 2017

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Aim-listed W Resources has submitted a grant application to the Junta de Extremadura government for funding for its La Parrilla tungsten and tin mine expansion project in Spain.

If approved, the regional government could fund up to 30% of the €19.5-million plant and facilities package for the La Parrilla fast-track mine development, which includes the crusher, jig/mill plant and the concentrator.

Securing a grant from the regional government would strengthen the La Parrilla mine development, W Resources Spanish country manager Fernando de la Fuente said in a statement on Wednesday.

The grant would provide W Resources funds during the critical commissioning period and would enable the company to potentially repay project debt early.

The company is aiming to raise $24-million in debt for the $27-million expansion of the mine, which once fully developed, will be the largest tungsten operation in Europe.

The T2 expansion project will increase the mine rate to two-million tonnes a year, lifting tungsten concentrate production to 2 500 t/y and tin concentrate production to 500 t/y.

The company is also negotiating vendor finance in respect of the key capital components of the T2, and will be looking to secure an additional $3-million in equity or customer finance to complete the funding of the T2 capital expenditure.

Edited by Creamer Media Reporter

Comments

Latest News

Magazine video image
Magazine round up | 29 March 2024
29th March 2024

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.086 0.14s - 156pq - 2rq
Subscribe Now