Tungsten in 2011 metal spotlight Robin Bromby From: The Australian January 07, 2011 2:16PM
TAKE your pick for the resource flyers of 2011 -- but tungsten is shaping up to be one of them.
Tungsten has a range of uses from light bulb filaments to strengthening steel for such things as mining drill bits. Its main attribute is high strength at high temperatures ? its melting point is 3420C.
Australia?s -- and the western world?s -- tungsten industry is only just getting back on its feet after being king-hit more than 20 years ago when the Chinese flooded the world market at low prices. Tungsten mines all over the world closed and even today China controls 76 per cent of world production but has recently restricted exports.
Prices keep rising as world demand outstrips supply.
One of the more advanced tungsten plays here is Hazelwood Resources (HAZ) which is planning to produce up to 3 per cent of world needs when its West Australian mine comes into operation.
HAZ Price at posting:
15.8¢ Sentiment: Buy Disclosure: Held
