Tungsten Mining (ASX:TGN) confirmed the Mt Mulgine project in Western Australia as a "low-cost" tungsten development poised to address an undersupplied tungsten market, according to a Tuesday filing with the Australian bourse.

The project's base case development includes capital of AU$870 million to establish an operation of 8 million tonnes per year, returning a post-tax net present value of AU$4.8 million and a post-tax internal rate of return of 48%, supported by an operating cost base of AU$181 per metric ton unit, the filing said.

The company plans to conduct a definitive feasibility study, pending board approval, aiming for a final investment decision in the first quarter of 2028 and first production in 2029, per the filing.