Australia's Wolf Minerals ready for construction of UK tungsten mine

Australia's Wolf Minerals is currently developing a major tungsten operation in south west England and recently announced that construction will begin during the second quarter this year.

The Hemerdon project received its final environmental permit last month. It's believed to bethe third largest tungsten resource in the world.

As with many other commodities, China dominates tungsten production. The Asian giant holds about 60% of known tungsten reserves – considered a strategic metal by many countries – and accounts for more than half of the world's demand. According to Wolf, demand is expected to increase at almost 6% per year until 2016.

The Financial Times recently visited the moorland in Devon, UK where the Hemerdon project is about to start up. See the video here:

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