Tungsten West PLC (AIM:TUN, OTC:TNGWF) has been granted a permit to operate the mineral processing facility at the Hemerdon mine near Plymouth.
This is the last key approval required to restart operations and is a gateway to securing finance for the project, said the miner.
An updated feasibility study (FS) is expected to be completed this quarter aimed at optimising the capital expenditure required to restart operations and lowering the resultant operating costs.
The plan is to maximise tungsten and tin recovery at Hemerdon through the facility and process 3.5 million tonnes per annum following a ramp-up period.
Mining operations will be outsourced to Hargreaves (UK) Services under the terms of the existing mining services contract with a target of recommencing mining and processing operations in 2026.
Alistair Stobie, Tungsten’s CFO and interim chief executive, commented: "The issuing of the permit to operate the mineral processing facility is another significant step in derisking the recommencement of production at Hemerdon.
It allows the company to progress its financing discussions and fast-track its updated Feasibility Study, to restart operations in 2026.
"I would like to thank the Environment Agency, as well as our various employees and consultants, for the significant work required to award this permit. “