update next month

cut and paste from ABC report - note last line

A mining company is believed to have secured some of the money it needs to revive a King Island tungsten mine that closed in 1990.

King Island Scheelite wants to re-open the abandoned mine near Grassy, creating up to 120 jobs over a 10-year life span.

The mayor, Greg Barratt, was told last week there had been progress on finance for the $100 million project and the proponents are optimistic.

"This is a very important project for the island," he said.

"It would not only provide employment but give more security to our shipping service obviously with the tonnages, particularly the inputs required."

The council expects another update from the company next month.