Tungsten West Plc
35.50
GBX
-0.50
(-1.39%)
Tungsten West Plc
LSE:TUN
(London Stock Exchange)
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35.50
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- Tungsten West PLC (TUN.L) is a United Kingdom-based mining development company focused on restarting production at the Hemerdon tungsten and tin mine located near Plympton in South Devon, England. Incorporated in 2018 and headquartered at Hemerdon Mine, Drakelands, Plympton, Devon PL7 5BS, the company owns 100% of the Hemerdon deposit, one of the largest tungsten resources globally, featuring a partially developed open pit, complete processing plant, integrated mine waste facility, workshops, and associated infrastructure; it plans to produce tungsten trioxide concentrate and tin concentrates alongside secondary aggregates from by-products for the construction industry, with capacity to process 3.5 million tonnes of ore annually and supply approximately 20% of global primary tungsten outside China over an 11-year base-case mine life plus stockpile processing and aggregate sales. Tungsten West listed on the London Stock Exchange's AIM market in October 2021, raising £36 million initially, and operates within the critical minerals sector targeting defence, aerospace, automotive, and clean energy markets amid UK, EU, and US supply chain diversification efforts. Recent developments include the completion of an updated feasibility study in August 2025 confirming a post-tax IRR of 29% and NPV7.5% of US$190 million at a US$400/MTU tungsten price, a successful processing trial producing first tungsten concentrate in November 2025, an EPC agreement signed on November 26, 2025 with Duo Group for new crushing, screening, and ore sorting facilities, a letter of interest from the Export-Import Bank of the United States in August 2025, Hemerdon designation as a Strategic Project under the UK's Critical Minerals Strategy in June 2025, a mineral processing facility permit award in June 2024, multiple convertible loan note updates through 2025 for funding, board and management changes including a new CEO in August 2024 and chairman appointment in December 2024, and a development and economic plan released in May 2025 outlining US$93 million restart funding needs with pre-production commissioning phases.