New Lease of Life--Production to resume at Canadian tungsten mine as the metal's price recovers

摘要

Canadian miner North American Tungsten Corporation (NTC) is to restart production at the only tungsten mine in the whole of North America. This is NTC's wholly owned Cantung mine, in the Northwest Territories of Canada. The mine was placed on care and maintenance in October 2009 because of the increased product inventory and the fall in the tungsten price, resulting from the global recession. At its low point, the price was 185 dollars per metric ton unit (MTU) of ammonium para-tungstate (APT - the tungsten raw material which is most traded on the market). The price had recovered to 240 dollars /MTU of APT when the company decided, last month, to resume production at the mine.