Tungsten West Requires $93M to Restart Hemerdon Mine Amid Supply Crunch

Tungsten West

UK Miner Seeks Financing as Global Tungsten Prices Surge

Tungsten West requires $93M to restart Hemerdon mine, targeting a 2026 relaunch amid tightening global tungsten supplies. The UK-based company detailed its plans to recommence production at the Hemerdon site in Devon, home to the world’s third-largest tungsten deposit. The total estimated cost excludes financing charges, with the company aiming to secure funding by the end of 2025.

Tungsten West is currently in talks with government-backed agencies in the UK, US, and EU, alongside specialist mining investors, tungsten intermediaries, and end-users. The mine is projected to produce 332,000 metric tonne units (mtu) of tungsten trioxide and 462 tonnes of tin annually over an initial 11-year span, with an additional four years of processing stockpiled material. Although the project was originally slated to restart in 2021, inflation and permitting delays pushed the timeline back.

Supply Shortages and Chinese Export Restrictions Drive Urgency

The decision comes amid tightening global tungsten supply, with prices sharply rising in response to falling inventories and limited Chinese exports. Since February, Beijing has expanded export licence requirements, further restricting global access to tungsten. As a result, European tungsten concentrate prices surged this week to $330–350/dmtu, up over 30% from January’s $260–270/dmtu levels—marking the highest since the benchmark’s inception in 2017.

Meanwhile, European APT prices climbed to $410–430/dmtu, with critically low stockpiles exacerbating upward pressure. As Tungsten West requires $93M to restart Hemerdon mine, the company positions itself as a vital alternative source for downstream consumers increasingly exposed to price volatility and supply chain risk.

The Metalnomist Commentary

Tungsten West’s financing push is timely and strategically critical. With China tightening control over exports and European inventories dwindling, the Hemerdon mine could become a cornerstone in rebalancing Western tungsten supply chains—if capital is secured before market constraints worsen.