CMT announces major resource growth at Shizhuyuan mine

China Tungsten and Hightech Materials Co., Ltd. (CMT) announced a significant increase in mineral resources at the Shizhuyuan mining area, operated by its wholly-owned subsidiary Hunan Shizhuyuan Nonferrous Metals Co., Ltd., following the completion of a final review by the Department of Natural Resources of Hunan Province.

The review confirmed newly identified resources of 91,700 tonnes of tungsten, together with 24.43 million tonnes of associated and by-product fluorite, 63,300 tonnes of bismuth, 133,700 tonnes of tin, and 13,600 tonnes of molybdenum. As a result, total resources at Shizhuyuan now stand at 678,700 tonnes of tungsten, 66.77 million tonnes of fluorite, 277,300 tonnes of bismuth, 238,300 tonnes of tin, and 113,600 tonnes of molybdenum.

Shizhuyuan currently has a tungsten ore processing capacity of 2.35 million tonnes per year, which is expected to increase to 3.5 million tonnes per year upon completion of a 10,000-tonne-per-day beneficiation upgrade project.

The additional reserves are expected to extend the mine's service life and enhance long-term resource security. As tungsten production in China is subject to mining quotas, the resource increase will not affect current output levels.