Tungsten developer Group 6 Metals has signed an MOU with Fortescue Future Industries to explore renewable energy, heat energy, and hydrogen at the Dolphin tungsten mine on King Island in Tasmania. The MOU will see FFI prepare concept and feasibility studies while the two companies work towards completing due diligence activities.
If successful, they will progress to definitive agreements as soon as possible. The project aims to reduce the reliance on diesel-generated power at the mine, lower the mine’s carbon footprint, and benefit the King Island community.
Group 6 Metals MD Keith McKnight believes that by creating a renewable power solution, the company could establish itself as a leader in critical minerals on a global scale, and its “Green Tungsten,” would extend its competitive advantage beyond the high grade and long life of the Dolphin deposit.
The Dolphin project is expected to have an initial 14-year mine life, with a processing capacity of 400,000 tons per year, and earlier this year, the cost estimate for the project increased to AUD 300 million from AUD 241 million.
Source: MINING WEEKLY
Image Source (video-grab): Group 6 Metals