Tungsten West Secures £71M Investment from UK National Wealth Fund for Mine Development

Published: Sep 2, 2026 09:58

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[SMM Tungsten Express] Tungsten West has agreed terms with the UK's National Wealth Fund for up to £71 million in investment, including £36 million in equity, up to £25 million in committed debt, and a £10 million non-committed accordion facility. The fund will also have a limited period to conclude an offtake agreement for up to 50% of tungsten production. The company has already produced concentrate and is in final completion testing, targeting production start in Q3 2026 and full ramp-up in Q1 2027. The agreement is expected to create 350 direct jobs.

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