A Devon mine holding one of the "most significant" tungsten deposits in the Western world has entered production.
On Tuesday (September 15), Tungsten West, which owns and operates the Hemerdon tungsten and tin mine near Plymouth, told investors that ore was now being processed through the plant.
The mine, formerly known as Drakelands, ceased operations in October 2018 after the liquidation of its previous operator, Australian company Wolf Minerals. Aim-listed Tungsten West took ownership in 2019 and has been working to revive production.
Jeffery Court, chief executive of Tungsten West, described the moment as a "landmark" one for his company.
"[The mine entering production] represents the culmination of an enormous effort by our team and partners to bring this strategically important mine back into operation," he said.
"At a time when governments and industry are increasingly focused on security of critical mineral supply, Hemerdon has the potential to become one of the Western world's most important sources of tungsten."
"Our focus now turns to safely ramping up operations and establishing Hemerdon as a reliable, long-term supplier of tungsten concentrate to the UK and its international partners."
Hemerdon could eventually produce up to 20 per cent of the global supply of primary tungsten outside China once fully operational. Tungsten is used in many industries, including automotive and defence.
After starting processing, Tungsten West says it will now "progressively ramp up" operations towards its targeted steady-state production.
Emma Reynolds, chief secretary to the Treasury, said: "Tungsten West is a great success story for Devon and demonstrates our vision to drive growth in every postcode and the reindustrialisation we need for good jobs across the UK."
The news arrives less than a month after the government announced its National Wealth Fund would inject £71m into the project. That funding includes a £36m share acquisition, which gives the government a 7.4 per cent stake in Tungsten and a seat on the board of directors, plus a £25m loan facility.
Oliver Holbourn, chief executive of the National Wealth Fund, added: "Just a few weeks on from our investment, and we're already seeing the first tungsten ore being processed at site."
"Through our investment, we want to unlock this strategic asset for the UK, secure a domestic supply of tungsten for our industry and bring jobs and opportunity to local communities. With today's news, Tungsten West is delivering on the first step in that ambition."
The Hemerdon project is expected to give a significant boost to the West's economy, including creating 350 direct jobs.
Tungsten West Begins Production at Devon’s Hemerdon Mine