Tungsten West's Hemerdon designated 'strategic' by EU
Tungsten West announced on Thursday that its Hemerdon tungsten and tin mine in Devon had been designated a ‘Strategic Project’ under the European Union’s Critical Raw Materials Act, positioning it for increased visibility and potential funding support within the bloc.
Tungsten West
05 June 2025 12:22:57
Source: Sharecast
The AIM-traded company said the European Commission’s designation highlighted Hemerdon’s potential role in strengthening the EU’s critical raw materials supply chain, particularly amid tightening conditions in the global tungsten market.
It said the mine was one of the few tungsten sources outside China, making it strategically important for European industry.
Tungsten West said the designation would enhance its ability to engage with EU-based funding partners as it advanced plans to restart production at the site.
The company was currently seeking financing options, adding that it believed the Strategic Project status would unlock access to additional funding opportunities from European institutions and investors.
At 1155 BST, shares in Tungsten West were up 23% at 8p.
Reporting by Josh White for Sharecast.com.
N/A
Isin:
N/A
Exchange: N/A
Sell:
N/A
Buy:
N/A
Change:
Date:
Prices delayed by at least 15 minutes
Compare our accounts
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Lloyds Bank is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
Important legal information
Lloyds and Lloyds Bank are trading names of Halifax Share Dealing Limited. The Lloyds Bank Direct Investments Service is operated by Halifax Share Dealing Limited. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Registered in England and Wales no. 3195646. Halifax Share Dealing Limited is authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.
The information contained within this website is provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. This is a solution powered by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd incorporating their prices, data news, charts, fundamentals and investor tools on this site. Terms and conditions apply. Prices and trades are provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd and are delayed by at least 15 minutes.
Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.
