Low prices force tungsten mine to close
Miner expects production shutdown at Cantung operation near Watson Lake, Yukon to last about six months before market rebounds
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Last updated 7/26/2009 at Noon
North American Tungsten Corp. Ltd.'s decision to shut down the Cantung Mine, Canada's only producing tungsten mine, Oct. 15 comes at a time when tungsten prices are depressed and stockpiles of ore are climbing.
But company Chairman and CEO Stephen M. Leahy, told reporters in Brazil recently that he doesn't expect the temporary shutdown to last more than six months.
"Logistically it's much simpl...
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