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La Parrilla mine on schedule for 2016 commission, says W Resources chair

Published: 08:46 22 Apr 2016 BST

W Resources PLC (LON:WRES) chairman, Michael Masterman, says the company is on track to start mining its La Parrilla project, in Spain, later this year.

Masterman tells Proactive that “[W Resources is] on schedule to finish the plant and commission it in 2016”, although he expects that the project won’t yield a profit until 2017.

He explains that this is because “the main production of tin and tungsten will be in 2017 and 2018”, during which time there will be “a fairly rapid ramp-up through those two years”.

Masterman is also buoyant about the tungsten market, explaining that he feels that “it’s going to rise quite considerably through the rest of the year. That’s great for [the company], we’ll come on into a really good market”.

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