Perpetual Resources secures Nevada tungsten project in $3.8 million deal
2026-06-18 12:01:01 [Print]
Perpetual Resources has officially signed a definitive agreement to acquire the historic Nevada Scheelite Mine, located in the US. The transaction is structured as staged payments totaling $3.8 million ($5.38 million) over a four-year period.
The brownfield project, which last operated between 1937 and 1957, is a proven tungsten producer. During its operational life, the mine yielded 328,747 short ton units of tungsten trioxide (WO3) at an average grade of approximately 1.1%.
Under the terms of the acquisition, Perpetual will secure four patented mining claims. This grants the company full private ownership of both mineral and surface rights within the project's high-grade core area, eliminating the need for federal land-use permitting for that zone.
The brownfield project, which last operated between 1937 and 1957, is a proven tungsten producer. During its operational life, the mine yielded 328,747 short ton units of tungsten trioxide (WO3) at an average grade of approximately 1.1%.
Under the terms of the acquisition, Perpetual will secure four patented mining claims. This grants the company full private ownership of both mineral and surface rights within the project's high-grade core area, eliminating the need for federal land-use permitting for that zone.
Tungsten Carbide 99.8%min 2.5-7.0μm FOB China
Unit:USD/kg
China APT Producers' inventory to production ratio statistics by province by month
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