Purchased by Primary Metals four years ago, the Panasqueira tungsten mine is now producing 3,000 tons per day. In March 2007, Primary Metals announced that the total proven and probable reserve estimate had increased to 2.43 million tons with a grade of 0.243% WO3 (tungsten trioxide) compared to the 2006 estimate of 1.39 million tons with a grade of 0.233% WO3. This showed an increase of one million tons, together with a small increase in the tungsten grade of the reserves.
These new estimates, combined with the indicated resource estimates, total 5.13 million tons, enough to provide feed to the process plant for 8.5 years at the current operating rate of 600,000 tons per year, assuming tungsten prices stay near current levels.
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[url]http://www.strahlen.org/vp/pt/panasqueira/[/url]