Nevada Scheelite Mine Tungsten Mine For Sale

Business description

4 Lode Patented Claims in Central Nevada (50 miles east of Fallon) at approximately 39.167 Latitude and -118.325 Longitude in the Rawhide Regent Mining District of Mineral County. Mining operations have been sporadic based on Tungsten commodity prices; it was active from 1937 to 1957 and again for a short while in 1974.

Mine site has Power, Water and Telephone Service; most of the equipment is aged and will require repairs and maintenance prior to full mining operations. Sales price includes everything on site, as-is where-is. There is also a decent county road to the mine site. There are about 15 surface plant buildings. The mine is serviced by a vertical three compartment main shaft to the 400 foot level and 100 feet to the north, a two compartment inclined winze to the 500 foot level. The mine is equipped with air, water and electrical lines as well as with a minimum amount of conventional mining equipment and facilities (per Gaylord Hansen’s March 24, 1977 Memorandum).

Total Production has been 300,000 units of WO3 (20 lbs per unit). All production has been as mill concentrates which averaged 70% WO3. The only ore mineral is scheelite, a calcium tungstate which contains 80% WO3. The total 300,000 ton ore production is equivalent to the total tungsten unit production. Existing ore reserve is estimated at a minimum of 40,000 tons with “reasonably probability, with aggressive exploration, the ore reserve could reach 100,000 to 300,000 tons”, from Gaylord Hansen’s March 24, 1977 Memorandum. According to the current mine owner, Kennametal (NYSE: KMT) will purchase the raw ore from the mine.

Property information

Real Estate:

Real Property Included

Living accommodation:

There are bunk houses on the property.

Location:

Central Nevada (50 miles east of Fallon) at approximately 39.167 Latitude and -118.325 Longitude in the Rawhide Regent Mining District of Mineral County.

Premises details:

Mine site has Power, Water and Telephone Service; most of the equipment is aged and will require repairs and maintenance prior to full mining operations. Sales price includes everything on site, as-is where-is. There is also a decent county road to the mine site. There are about 15 surface plant buildings. The mine is serviced by a vertical three compartment main shaft to the 400 foot level and 100 feet to the north, a two compartment inclined winze to the 500 foot level. The mine is equipped with air, water and electrical lines as well as with a minimum amount of conventional mining equipment and facilities (per Gaylord Hansen’s March 24, 1977 Memorandum).

Business Operation

Reasons for selling:

Owner lives in Arizona and can not manage active mining operations. Tungsten prices have recovered and the Chinese are controlling an estimated 80% of Tungsten Mining.

Employees:

0

Years established:

1937

Other information

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Seller may provide some financing.

Business closed / Asset sale:

Yes