Deutsche Rohstoff AG and GTP co-operate closely

Dr. Titus Gebel, Chairman and CEO of DRAG said. "We are pleased that with GTP one of the major international tungsten processors has started a long-term collaboration with us. GTP's extraordinary professional collaboration and its financial support underlines the willingness of both sides to build a successful partnership."  

Dr. Andreas Lackner says: "The quality of the Wolfram Camp Mine project and the professional approach of the DRAG convinced us. The agreement is an important element in our strategy to cover the overall demand for tungsten concentrates outside of China. We can well imagine to carry out further tungsten projects together with DRAG."  

The proven tungsten resource in the Wolfram Camp Mine - according to the Australian JORC Standard - totals 1.42 million tons of ore with average grades of 0.60% WO3 (tungsten trioxide) and 0.12% Mo (molybdenum). This resulted in a calculation that the mine has an open pit mine able reserve of 730,000 tonnes grading 0.77% WO3 and 0.056% Mo. Accordingly, there is an initial mine life to 2014. However it is very probable that the reserve can be greatly expanded through additional exploration.