Tungsten West’s Hemerdon tungsten and tin mine in Devon has secured up to £71 million from the UK government’s National Wealth Fund, providing funding for the final stages of the restart of one of Britain’s largest tungsten resources.
The package includes £36 million of equity and up to £35 million of debt financing. The National Wealth Fund will receive a 7.42% stake in Tungsten West and the right to nominate one non-executive director to the company’s board.
Mining Restart Advances Towards Production
Hemerdon has already produced tungsten and tin concentrate during the current restart program, with Tungsten West now carrying out completion testing as it prepares the operation for production.
The company is targeting a ramp-up to full-scale production in 2027. The restart will use existing mine infrastructure and processing facilities, which Tungsten West says will provide competitive costs and a shorter route to production.
The operation’s processing circuits are being brought back into service as part of the commissioning program. The company is also progressing discussions with a major downstream tungsten refiner on an offtake agreement.
Tungsten Supply Gives Hemerdon Strategic Importance
The mine hosts a major tungsten resource alongside tin, giving Hemerdon a key role in the UK’s efforts to increase domestic critical-mineral production. Tungsten is commonly used in hard-metal tooling, industrial equipment, electronics, aerospace, and defence applications.
The UK government has the right to negotiate and procure up to 50% of the tungsten production outlined in Hemerdon’s 2025 feasibility study. This could establish a significant domestic outlet for future concentrate from the mine.
Existing Mine Infrastructure Supports Restart
Hemerdon previously operated as a producing mine before production stopped in 2018 after its former owner’s administration.
Tungsten West has since worked to restore the operation, using existing infrastructure as part of its restart strategy. The previously operating mine and installed infrastructure will help reduce the time and cost required to reach production.
The current program has already progressed beyond planning, with concentrate production demonstrating that parts of the processing operation can produce tungsten and tin material.
Production Is the Next Milestone
Tungsten West’s immediate focus is completing the remaining commissioning and testing work, followed by a ramp-up towards full production.
The company expects Hemerdon to support about 350 direct jobs once restarted. For the mining sector, the project would restore domestic tungsten and tin production after an eight-year shutdown and add a UK source of tungsten concentrate to global supply.
The restart’s success will depend on completing commissioning, achieving stable plant performance, and securing reliable offtake for the mine’s tungsten and tin products.
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