The tungsten is the rare resources in the world, especially in the China. While the popolation of China is so large so that person has the less per capita. Because of it, Chinese government take some polocies to solve it!
In addition to previous quotas set to limit the export of tungsten, the Chinese government has again cut back on the production and shipment of minor metals such as tungsten, molybdenum and vanadium. According to the Ministry of Industry and Information, these metals represent a non-renewable resource that gives Chinese manufacturing an advantage, hence the need for these further restrictions.
Recent analysis suggests China’s existing tungsten resources will last just 20 years. The article states that China will account for 37% of global consumption this year. The specialty steel sector will be the second largest buyer of tungsten, accounting for 22% of China’s consumption, behind the local hard alloy sector, which takes 58% of all Chinese tungsten production.
China holds approximately 50% of the world’s known tungsten reserves and it has put a hold on development of new tungsten mines until after June 2011.
Improving the current, many scientists creat the new resources to satisfy the people’s demand.
Newcrest has announced it will begin drilling tenements alongside existing gold works in Western Australia, early in 2010, to determine the prospectivity for tungsten.
At the same time, Icon Resources announced to the market its successful fund raising to expand drilling and proceed with pre-feasibility at the existing Mt Carbine open-cast pit. This is perhaps the most exciting stage for patient investors to-date, as the resource potential beyond what is currently confirmed, is explored. If the seams continue into the hill and further underground than previously documented, Mt Carbine will be well-positioned to expedite the project as desired.
"Further supply from other Australian sources won't so much dampen our opportunities as support the premise of Australia becoming the dominant supplier of tungsten to world markets. Our sovereing risk, technological and productivity track-records make the country a reliable source of strategic metals," he said
Because the tungten is rare, it used to be the wedding band which represent for cherish each other!
