| Date 2/22/2012 |
| Open: 0.14 |
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Volume 1449650 |
16/2/2012
Malaga To Build New Hydroelectric Plant in Peru
Additional Power Will Continue To Significantly Reduce
Tungsten Production Costs At Pasto Bueno Mine
Construction Permit Expected by End of 2012
... more
| 9/1/2012
Malaga Announces Appointment of Fernando Pajuelo Rincon as General Manager at Its Pasto Bueno Tungsten Mine
MONTREAL, QUEBEC--(Marketwire - Jan. 9, 2012) - Malaga Inc. ("MLG")(TSX:MLG)(OTCQX:MLGAF) announces the appointment of Fernando Pajuelo as General Manager in charge of mining operations at the Company's Pasto Bueno tungsten mine in Peru. Mr. Pajuelo ... more
| 2/12/2011
MALAGA ANNOUNCES APPOINTMENT OF PIERRE MONET AS PRESIDENT AND CHIEF EXECUTIVE OFFICER
Montreal, December 2, 2011 – The Board of Directors of Malaga Inc. (gMLGh) today announced the appointment of Pierre Monet as President and chief executive officer, replacing Jean Martineau who will remain Chairman of the Company and Presiden... more
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Prices for tungsten ore rose in 2010. With the global economy on the upswing, the West’s demand for tungsten is rising. At the same time, China’s imports of tungsten are increasing.
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World consumption and use of tungsten
In geographic terms, consumption of tungsten ore is widespread and global demand for tungsten products is n the rise. China now accounts for approximately 40 percent of world consumption. Europe and the United States are also major markets for tungsten and tungsten products. Demand in India, moreover, has shown signs of rapid growth.
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China becomes a tungsten importer
China has major mineral deposits of tungsten. China’s supply and demand are, to a large extent, influenced by the market. Growth in the Chinese economy began to put upward pressure on the price of tungsten ore in 2003, as did the Chinese government’s introduction in 2005 of policies designed to conserve the resource for future internal needs.
These policies reduce the availability of tungsten products outside of China, interestingly enough, China is a net importer of tungsten concentrates and residue.
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Mineral exploration and mine development
Outside of China, companies are seeking new, sustainable sources of tungsten. There has been a resurgence in investment in mineral exploration and tungsten deposit mining, particularly in Vietnam, Australia and the Americas.
Three tungsten mines have resumed operations: CanTung in Canada (2005), Panasqueira in Portugal (2005) which was since acquired by an end-user, and Pasto Bueno in Peru (2006). The Pasto Bueno mine was bought out by Malaga in 2005.
However, a considerable amount of time can transpire between the exploration of new mineral deposits, and the opening of a new mine. No significant increase in global ore production is forecasted. Prices for concentrates and tungsten products will have to increase further before new large-scale mining programs can be launched.
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Tungsten market outlook for Malaga
Malaga Inc. intends to expand its presence in this booming new market by gradually increasing its production capacity and reserves.
Learn more about the Pasto Bueno mine and its Malaga-quality ore, known for its high WO3 content, very low level of impurities, and lack of radioactivity.
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