Last Friday I was informed we are expected to receive our "medium producer licence " upgrade from Peru between late Q1 and early Q2. This key upgrade will permit the Company to increase its tungsten production from 375 tonnes per day (tpd) to the much anticipated 500 tpd rate.
The updated factsheet and new PPT presentation will be ready before the Toronto PDAC conference.
The tungsten price is steadily rising in China as well the tungsten APT European bid price has increased from US $185 MTU to $205 MTU in the last month.
Tungsten APT European free market $ per mtu
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Wednesday, February 17, 2010
Monday, February 8, 2010
Malaga Inc. to receive US$ 2.5 million from recycling copper-silver rich mine tailings from Pasto Bueno
Malaga Inc. (malaga)
Symbol: MLG
Toronto Stock Exchange (TSX)
MONTREAL, Feb. 3 /CNW Telbec/ - Malaga Inc. (TSX:MLG) is pleased to announce that it has found a technique to recycle the Copper(Cu)/Silver(Ag) rich mine tailings produced at its Pasto Bueno mine as a by-product during processing of tungsten ore. During the next 6 months, more than 5,000 tonnes of this tailing will be recycled generating more than US$ 2.5 million.
During 2009, Malaga invested in a small pilot plant in order study the feasibility of concentrating the mine tailings produced at Pasto Bueno. The goal was to produce a saleable tailing concentrate. After solving several problems, the company succeeded in producing a tailing concentrate enriched Cu and Ag and low enough in impurities to allow commercial extraction of the Cu and Ag content.
Malaga has now signed an agreement with a Peruvian company to process the enriched tailings and expects to receive more than US$ 2.5 million during the next 6 months. After disposing of the mine tailings that accumulated during its first 3 years of operations, Malaga expects to produce 300-400 tonnes of tailing concentrates per month. This amount will increase during 2010 as Malaga increases its rate of production producing a steady additional cash flow from recycling.
Malaga President and CEO, Jean Martineau commented, "We are pleased to have found a technical novel solution for the recycling of our mine tailings that initially appeared to be very difficult to recycle. Thanks to our in house metallurgical engineers, Malaga is able to increase its operational cash flow and act in an environmentally responsible manner."
Tungsten Outlook for 2010
Pierre Monet, Malaga's CFO also commented on the tungsten market at the beginning of 2010. "We are delighted to see that the price of tungsten, as we expected, has increased both inside China and on the world market. Indeed, since the 15th of January 2010, the price of APT (Ammonium Paratungstate) has increased three times (in two $5 steps and one $2 step) from US$185 to reach US$197 per MTU. We expect that this tendency will continue, although more gradually, throughout 2010 and that Malaga as its production increases at Pasto Bueno will be in a much stronger position as the leading producer of tungsten ore in the Americas."
ABOUT MALAGA INC.
Malaga Inc. is the Americas leading producer of tungsten ore and owns the only operating tungsten mine in the Americas. Current tungsten concentrate production is approximately 7,500 MTUs per month and is expected to increase to above 9,000 MTUs, in the near future. Malaga also seeks diverse growth opportunities such as developing the hydroelectric potential of its Pasto Bueno property, through Hidropesac, in which the Company holds 44%, as well as through its holding in Dynacor Gold Mines Inc., in which the Company owns 13.5%.
The Company's shares trade on the Toronto Stock Exchange (TSX:MLG). Malaga is currently the only publicly traded tungsten producing company outside of China. Updates and information on Malaga are available at its web site www.malaga.ca.
FORWARD-LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Malaga, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release.
Symbol: MLG
Toronto Stock Exchange (TSX)
MONTREAL, Feb. 3 /CNW Telbec/ - Malaga Inc. (TSX:MLG) is pleased to announce that it has found a technique to recycle the Copper(Cu)/Silver(Ag) rich mine tailings produced at its Pasto Bueno mine as a by-product during processing of tungsten ore. During the next 6 months, more than 5,000 tonnes of this tailing will be recycled generating more than US$ 2.5 million.
During 2009, Malaga invested in a small pilot plant in order study the feasibility of concentrating the mine tailings produced at Pasto Bueno. The goal was to produce a saleable tailing concentrate. After solving several problems, the company succeeded in producing a tailing concentrate enriched Cu and Ag and low enough in impurities to allow commercial extraction of the Cu and Ag content.
Malaga has now signed an agreement with a Peruvian company to process the enriched tailings and expects to receive more than US$ 2.5 million during the next 6 months. After disposing of the mine tailings that accumulated during its first 3 years of operations, Malaga expects to produce 300-400 tonnes of tailing concentrates per month. This amount will increase during 2010 as Malaga increases its rate of production producing a steady additional cash flow from recycling.
Malaga President and CEO, Jean Martineau commented, "We are pleased to have found a technical novel solution for the recycling of our mine tailings that initially appeared to be very difficult to recycle. Thanks to our in house metallurgical engineers, Malaga is able to increase its operational cash flow and act in an environmentally responsible manner."
Tungsten Outlook for 2010
Pierre Monet, Malaga's CFO also commented on the tungsten market at the beginning of 2010. "We are delighted to see that the price of tungsten, as we expected, has increased both inside China and on the world market. Indeed, since the 15th of January 2010, the price of APT (Ammonium Paratungstate) has increased three times (in two $5 steps and one $2 step) from US$185 to reach US$197 per MTU. We expect that this tendency will continue, although more gradually, throughout 2010 and that Malaga as its production increases at Pasto Bueno will be in a much stronger position as the leading producer of tungsten ore in the Americas."
ABOUT MALAGA INC.
Malaga Inc. is the Americas leading producer of tungsten ore and owns the only operating tungsten mine in the Americas. Current tungsten concentrate production is approximately 7,500 MTUs per month and is expected to increase to above 9,000 MTUs, in the near future. Malaga also seeks diverse growth opportunities such as developing the hydroelectric potential of its Pasto Bueno property, through Hidropesac, in which the Company holds 44%, as well as through its holding in Dynacor Gold Mines Inc., in which the Company owns 13.5%.
The Company's shares trade on the Toronto Stock Exchange (TSX:MLG). Malaga is currently the only publicly traded tungsten producing company outside of China. Updates and information on Malaga are available at its web site www.malaga.ca.
FORWARD-LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Malaga, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release.
Wednesday, January 6, 2010
Tungsten concentrate Chinese price rises by 3% in early January 2010.
Rising downstream prices (retailer's pricing) is the catapult behind market optimism. Yesterday the price of tungsten concentrate rose by over 2000 yuan. In December tungsten was selling for 69,000 yuan and today it is being reported from a major tungsten producer in the province of Hunan that tungsten is selling between 71,000-72,000 yuan.
Some producers are confident that the price of tungsten is about move further up in the near future and therefore are considering to remove their tungsten from today's market.
There is the real possibility the Chinese government may cancel the 8% VAT exemption which at this time the private Chinese producers are benefiting from. If the government decides on this course of action, this will put more pressure on the price of tungsten as the private tungsten producers will be forced to raise their prices due to the 8% tax expense.
What does this mean for Malaga "America's Only Tungsten Producer" ? Well simply this latest event in the world of tungsten equates to a higher APT (ammonium paratungstate) price. On December 11, 2009 Chinese APT was selling between $185-$190 MTU (metric ton unit) and today it is selling for $194-$195 MTU.
In my opinion, this latest move out of China is significant as we have to take into consideration many western buyers are still not back from the holidays; next week could be quite interesting in the world of tungsten.
If the west doesn't keep up to the market's demand on a higher price, China has an enormous buyer waiting in the wings...their domestic market...
Some producers are confident that the price of tungsten is about move further up in the near future and therefore are considering to remove their tungsten from today's market.
There is the real possibility the Chinese government may cancel the 8% VAT exemption which at this time the private Chinese producers are benefiting from. If the government decides on this course of action, this will put more pressure on the price of tungsten as the private tungsten producers will be forced to raise their prices due to the 8% tax expense.
What does this mean for Malaga "America's Only Tungsten Producer" ? Well simply this latest event in the world of tungsten equates to a higher APT (ammonium paratungstate) price. On December 11, 2009 Chinese APT was selling between $185-$190 MTU (metric ton unit) and today it is selling for $194-$195 MTU.
In my opinion, this latest move out of China is significant as we have to take into consideration many western buyers are still not back from the holidays; next week could be quite interesting in the world of tungsten.
If the west doesn't keep up to the market's demand on a higher price, China has an enormous buyer waiting in the wings...their domestic market...
Wednesday, December 23, 2009
Thursday, December 3, 2009
China tungsten conc prices rise on increased buying
Shanghai 02 December 2009 03:04
China's tungsten concentrate prices recovered by 2,000-2,500 yuan ($293-366) this week on firming demand and an improving downstream market. Tungsten concentrate is trading at 67,500-68,000 yuan per tonne, up from 65,000-66,000 yuan in the past week. "Some buyers returned to the market this week to purchase concentrate for next year's production," said a major ferro-tungsten producer in Hunan. The...
http://www.metalbulletin.com/Article/2349653/NonFerrous/China-tungsten-conc-prices-rise-on-increased-buying.html
Monday, November 30, 2009
Malaga Attains Key Milestone at Pasto Bueno
Malaga Inc. (malaga)
Symbol: MLG
Toronto Stock Exchange (TSX)
Malaga Attains Key Milestone at Pasto Bueno: Tungsten Production Capacity Increases by 60%
Montreal, Quebec, the 30th of November 2009 – Malaga Inc. (TSX:MLG) is pleased to report the first step in the upgrading of its Huaura tungsten plant at Pasto Bueno in Peru is on schedule. Additionally the rated production capacity is now 400 tons per day (tpd) (as compared to 250 tpd during the first nine months of 2009)--an increase of 60%.
An entirely new section of the plant has been built from scratch. This section includes a new ore crushing circuit, coarse and fine ore chutes as well as a new jig separator area. The recently added area of the plant has been linked to the mine using an improved ore supply line including electrical hopper cars that deliver the tungsten ore more efficiently to the ore chutes and the primary ore crushing circuit. An additional access road for heavy duty ore delivery trucks has also been built.
During the last few days, the new section of the plant has been successfully tested at 375 tpd and some fine adjustments are being made. During the coming months, Malaga will continue to upgrade the plant in order to reach its target capacity of 500 tpd. Management expects during the ongoing upgrading process, the plant will run below its nominal 400 tpd capacity at a rate of 325-350 tpd.
The new 600 kW hydroelectric plant commissioned in 2009 and the power line linking Pasto Bueno to the national grid will cover the current and future energy requirements for both the tungsten mine and the Huaura plant as production capacity is increased over the coming months.
Pierre Monet, Malaga’s Vice-President and CFO commented at the Montreal Investment Conference (November 6-7, 2009) “the company’s gross operating margin will improve as significant production cost savings will be made when the Huaura plants’s capacity reaches 500 tonnes per day and more income will be generated. This in turn will generate profitability”.
ABOUT MALAGA INC.
Malaga Inc. is America's leading producer of tungsten ore and owns the only operating tungsten mine in the Americas. Current tungsten concentrate production is approximately 5,000 metric ton units (1 MTU = 10 kg) per month and is expected to double by 2010. Malaga also seeks diverse growth opportunities such as developing the hydroelectric potential of its Pasto Bueno property, through Hidropesac, in which the Company holds 44%, as well as through its holding in Dynacor Gold Mines Inc., in which the Company owns 13.3%.
The Company's shares trade on the Toronto Stock Exchange (TSX:MLG). Malaga is currently the only publicly traded tungsten producing company outside of China. Updates and information on Malaga are available at its Web site www.malaga.ca.
FORWARD-LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Malaga, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.
Symbol: MLG
Toronto Stock Exchange (TSX)
Malaga Attains Key Milestone at Pasto Bueno: Tungsten Production Capacity Increases by 60%
Montreal, Quebec, the 30th of November 2009 – Malaga Inc. (TSX:MLG) is pleased to report the first step in the upgrading of its Huaura tungsten plant at Pasto Bueno in Peru is on schedule. Additionally the rated production capacity is now 400 tons per day (tpd) (as compared to 250 tpd during the first nine months of 2009)--an increase of 60%.
An entirely new section of the plant has been built from scratch. This section includes a new ore crushing circuit, coarse and fine ore chutes as well as a new jig separator area. The recently added area of the plant has been linked to the mine using an improved ore supply line including electrical hopper cars that deliver the tungsten ore more efficiently to the ore chutes and the primary ore crushing circuit. An additional access road for heavy duty ore delivery trucks has also been built.
During the last few days, the new section of the plant has been successfully tested at 375 tpd and some fine adjustments are being made. During the coming months, Malaga will continue to upgrade the plant in order to reach its target capacity of 500 tpd. Management expects during the ongoing upgrading process, the plant will run below its nominal 400 tpd capacity at a rate of 325-350 tpd.
The new 600 kW hydroelectric plant commissioned in 2009 and the power line linking Pasto Bueno to the national grid will cover the current and future energy requirements for both the tungsten mine and the Huaura plant as production capacity is increased over the coming months.
Pierre Monet, Malaga’s Vice-President and CFO commented at the Montreal Investment Conference (November 6-7, 2009) “the company’s gross operating margin will improve as significant production cost savings will be made when the Huaura plants’s capacity reaches 500 tonnes per day and more income will be generated. This in turn will generate profitability”.
ABOUT MALAGA INC.
Malaga Inc. is America's leading producer of tungsten ore and owns the only operating tungsten mine in the Americas. Current tungsten concentrate production is approximately 5,000 metric ton units (1 MTU = 10 kg) per month and is expected to double by 2010. Malaga also seeks diverse growth opportunities such as developing the hydroelectric potential of its Pasto Bueno property, through Hidropesac, in which the Company holds 44%, as well as through its holding in Dynacor Gold Mines Inc., in which the Company owns 13.3%.
The Company's shares trade on the Toronto Stock Exchange (TSX:MLG). Malaga is currently the only publicly traded tungsten producing company outside of China. Updates and information on Malaga are available at its Web site www.malaga.ca.
FORWARD-LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Malaga, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.
Sunday, November 29, 2009
South Korea to inject US $0.25 billion in tungsten and other rare metals
SEOUL, Nov 28, 2009 (Asia Pulse Data Source via COMTEX) -- South Korea unveiled Friday an investment plan to develop its rare metals industry, hoping to secure local materials sources for its high-tech sector.
The 300 billion won (US$257.7 million) plan was outlined at a meeting of officials from government and businesses, including the world's No. 4 steelmaker, POSCO. The money will be spent on furthering development of 40 key smelting, refining and reprocessing technologies for 10 types of rare metals until 2018, the Ministry of Knowledge Economy said.
With the project, the ministry hopes South Korea will be able to produce 80 percent of the rare metal products it consumes, up from just 12 percent at present.
"In the 21st century the global economy will be led by the rare metal industry," Knowledge Economy Minister Choi Kyung-hwan said, "requiring a comprehensive approach to its development."
The project also aims to boost the number of local rare metal manufacturing companies from 25 to 100, build dedicated regional industrial clusters for such businesses, and utilize a specialized mergers and acquisition fund to buy up foreign firms.
The ministry said the need to grow the rare metal industry is becoming more urgent, as these materials are used to make high-tech products like light emitting diodes, display panels and battery cells needed to drive electric cars.
"We will give first support to the development of technologies needed to process the rare metals that are in high demand," said Lee Seung-woo, head of the ministry's steel-chemical division. These metals are gallium, titanium, lithium, white gold, cobalt, magnesium, indium, tungsten, nickel and rare earth elements.
Lee added that 15-20 additional rare metals will be selected for development down the road as part of the country's long-term effort to enhance overall competitiveness in this sector.
The government will ask the private sector to more than match its spending with an additional 820 billion won by 2013. The ministry said it also aims to secure a strategic stockpile of 18 million tons of titanium, tungsten, magnesium, molybdenum and rare earth elements by 2015.
The plan does not address how to secure a steady supply of the rare metals, which are mostly produced in China, Canada, Australia, the United States and former Soviet states.
Lee said POSCO plans to spend 34.6 billion won by 2011 to build a magnesium processing plant in Gangwon Province with an annual capacity of 10,000 tons. Depending on demand, the steelmaker plans to invest a total of 200 billion won to increase its capability to 100,000 tons.
The 300 billion won (US$257.7 million) plan was outlined at a meeting of officials from government and businesses, including the world's No. 4 steelmaker, POSCO. The money will be spent on furthering development of 40 key smelting, refining and reprocessing technologies for 10 types of rare metals until 2018, the Ministry of Knowledge Economy said.
With the project, the ministry hopes South Korea will be able to produce 80 percent of the rare metal products it consumes, up from just 12 percent at present.
"In the 21st century the global economy will be led by the rare metal industry," Knowledge Economy Minister Choi Kyung-hwan said, "requiring a comprehensive approach to its development."
The project also aims to boost the number of local rare metal manufacturing companies from 25 to 100, build dedicated regional industrial clusters for such businesses, and utilize a specialized mergers and acquisition fund to buy up foreign firms.
The ministry said the need to grow the rare metal industry is becoming more urgent, as these materials are used to make high-tech products like light emitting diodes, display panels and battery cells needed to drive electric cars.
"We will give first support to the development of technologies needed to process the rare metals that are in high demand," said Lee Seung-woo, head of the ministry's steel-chemical division. These metals are gallium, titanium, lithium, white gold, cobalt, magnesium, indium, tungsten, nickel and rare earth elements.
Lee added that 15-20 additional rare metals will be selected for development down the road as part of the country's long-term effort to enhance overall competitiveness in this sector.
The government will ask the private sector to more than match its spending with an additional 820 billion won by 2013. The ministry said it also aims to secure a strategic stockpile of 18 million tons of titanium, tungsten, magnesium, molybdenum and rare earth elements by 2015.
The plan does not address how to secure a steady supply of the rare metals, which are mostly produced in China, Canada, Australia, the United States and former Soviet states.
Lee said POSCO plans to spend 34.6 billion won by 2011 to build a magnesium processing plant in Gangwon Province with an annual capacity of 10,000 tons. Depending on demand, the steelmaker plans to invest a total of 200 billion won to increase its capability to 100,000 tons.
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