WFEMF ~ Tungsten: Metal that's Quietly Running the World
Junior miners that mine and process tungsten may very well find themselves in a similar situation today.
And Warren Buffett agrees.
Woulfe Mining - WFEMF (TSX: V.WOF) is currently negotiating a deal with International Metalworking Companies, a Berkshire Hathaway (NYSE: BRK.A, Stock Forum) owned holding company for metalworking products.
For a total of about $80 million, IMC agreed to buy a 25% stake in Woulfe’s Sandong mining project in South Korea, which was once the biggest tungsten-producing mine worldwide. By 2014, once again, the mine is set to become the biggest producer when it reopens.
It’s estimated Sandong will account for 7% to 10% of total tungsten production at that time.
Buffett is seeing an enormous opportunity here.
As Woulfe Mining’s Nick Smith told Tungsten Investing News, “Without tungsten, Western manufacturing comes to an end.”
Today the metal is used in anything from light bulbs, to drill bits for oil and gas exploration, to solar panels, to smartphones, tablets and much more.
And what makes it unique is that it’s practically immune from corrosion and can withstand unbelievably high temperatures.
Nick Smith adds, “You are not working with steel without tungsten. There’s no global mining unless you have tungsten-tipped drills.”
In other words, even though supply of tungsten is tightening worldwide, there’s no material that can currently replace demand for it no matter how high prices go.
News 
Market Data 
Discover 
AI
