Dolphin Tungsten Mine Gets Tasmanian Government Support as Group 6 Restructures

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Dolphin Tungsten Mine Gets Tasmanian Government Support as Group 6 Restructures

//business-finance.news-articles.net/content/202 .. -government-support-as-group-6-restructures.html

Published in Business and Finance on Wednesday, February 12th 2025 at 17:20 GMT by MSN

Eric Abetz, Tasmania's minister for business, industry and resources, said on Monday (February 10) that the state's government has decided to support Group 6 Metals' (ASX:G6M) Dolphin tungsten mine. Under a debt-to-equity agreement,

The Dolphin Tungsten Mine in Tasmania has received support from the Tasmanian government as Group 6 Metals, the company behind the project, undergoes a restructuring process. This support comes in the form of a $1.8 million grant aimed at helping the mine reach full production. The restructuring follows a period of financial and operational challenges, including a trading halt on the company's shares. The government's backing is part of a broader strategy to bolster the mining sector in Tasmania, recognizing the potential economic benefits from the mine, which is expected to produce high-grade tungsten concentrate. This initiative also reflects the government's commitment to supporting local industries and job creation amidst global market fluctuations affecting tungsten prices.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/economy/dolphin-tungsten-mine-gets-tasmanian-government-support-as-group-6-restructures/ar-AA1yVgQj ]

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