LONDON, UK: Strategic Minerals’ subsidiary Cornwall Resources Limited (CRL) has signed a Memorandum of Understanding (MOU) with Oxford Sigma Limited, a nuclear fusion technology company based in Oxfordshire, UK.

Currently over 90% of global tungsten supply is controlled by China (84%), Vietnam (5.7%) and Russia (2.7%). It is imperative for the security of supply of this critical material that long-term alternative supplies are established.

Fusion energy is potentially a near-limitless source of carbon-free energy for the future, and tungsten will be a key component in the process, required for dense, highly efficient radiation shielding and plasma-facing components within fusion energy devices.

Fusion energy is actively being developed to reach commercialisation with over US$6.2 billion of mainly private investment worldwide (as of August 2023 according to the Fusion Industry Association). However, without a viable commercial pathway for the supply of tungsten from raw materials to the fusion community, the commercialisation of fusion energy could face significant delays.

The strategic collaboration with Oxford Sigma, further growing its network of tungsten development projects, will provide a combination of skills and assets to secure the source of raw tungsten material in the UK, with the goal of deploying these tungsten-based components across the globe.

Commenting, Dr Thomas Davis, CTO of Oxford Sigma Limited, reflects: “Following on from other recent MOUs in tungsten supply, Oxford Sigma has entered into a key collaboration agreement with Cornwall Resources Limited. This is a natural fit to further strengthen our approach to securing long-term tungsten supply for the fusion power industry. Commercial fusion power stations are expected to become the ultimate domestic energy source, providing our clean power needs for generations.

“To make fusion sustainable, we must address the need of securing the supply of critical minerals, such as tungsten, and the projects that will produce them. Most of the technology that Oxford Sigma develops for fusion energy depends on large quantities of raw tungsten for various applications (radiation shielding and plasma-facing components). By collaborating with Cornwall Resources, Oxford Sigma continues to grow a network of world class projects, in safe jurisdictions, aiming to establish the supply of tungsten, ensuring a secure sustainable tungsten supply for the world’s fusion reactors of the future.

“We look forward to working with CRL, and our other partners, in connecting and building relationships with the fusion community.”

Commenting, Peter Wale, Executive Director of Strategic Minerals and Director of CRL, said: “We are pleased to be working with the Oxford Sigma team who have a deep understanding of the fusion energy industry within the United Kingdom and abroad. Oxford Sigma is working to develop a long-term supply chain approach to sourcing tungsten for this key developing future technology.

“This agreement highlights the high grade, JORC (2012) compliant, tungsten resource at Redmoor. We believe Redmoor to be a world class deposit that has the potential to contribute towards the large quantities of tungsten necessary to advance the UK’s ambition to advance nuclear fusion technology into commercial production in the coming decades.

“By working with Oxford Sigma, we intend to further highlight to national government the importance of establishing domestic tungsten mining to provide long-term security of supply for the fusion community, and Redmoor’s ability to help meet these needs.”