MINEX Forum

Tag: tungsten

  • Tungsten West’s Hemerdon Mine Gains EU Strategic Status, Eyes 2026 Restart

    Tungsten West’s Hemerdon Mine Gains EU Strategic Status, Eyes 2026 Restart

    Tungsten West has confirmed that its Hemerdon mine near Plymouth, Devon, has been officially designated a strategic project under the European Union’s Critical Raw Materials strategy. The recognition is a significant milestone for the site, which hosts the world’s second-largest tungsten deposit and has the potential to meet up to 20% of global demand for the critical mineral.

    CEO Jeff Court stated that the mine is “fully permitted and shovel ready,” with production potentially restarting by the end of 2026. However, to move forward, the company still needs to raise £69 million ($93 million) in private investment.

    Originally operated by Australia’s Wolf Minerals Ltd., the mine fell into administration in 2018. Tungsten West acquired the site in 2019 and began interim operations in 2023.

    Tungsten is highly valued for its extreme heat resistance and strength, making it indispensable in the production of ammunition, aerospace components, electronics, and cutting tools. Despite its importance, the Hemerdon project has so far received no UK government support—unlike lithium and tin initiatives in Cornwall that have benefited from significant funding.

    Court highlighted the mine’s potential benefits for the UK economy, calling for more equitable government backing: “It’s great we have interest from the US and EU, but this is a UK project. Jobs, money into the economy, regional development—it’s all here.”

    A spokesperson for the Department for Business and Trade noted that the UK’s upcoming Critical Minerals Strategy will address production improvements and financial support for domestic projects. “We welcomed the EU’s announcement of Tungsten West as a strategic project,” they added, indicating a broader intent to strengthen global supply chains in coordination with international partners.

  • European Tungsten Prices Reach Highest Level Since 2013 Amid Chinese Export Curbs

    European Tungsten Prices Reach Highest Level Since 2013 Amid Chinese Export Curbs

    European tungsten prices have surged to their highest point since 2013, driven by China’s tightening restrictions on critical mineral exports. The price of ammonium paratungstate (APT)—a vital intermediate in tungsten metal production—has reached $400 per metric ton unit (mtu) on the European spot market, marking an 18% increase since February, according to Reuters.

    The spike follows China’s recent export curbs and quota reductions on key strategic metals, including tungsten, tellurium, molybdenum, bismuth, and indium. These measures, imposed in retaliation to US tariffs earlier this year, have intensified global supply concerns.

    China dominates global tungsten production, accounting for over 80% of the 81,000 tons produced worldwide last year, according to the US Geological Survey (USGS). Tungsten’s exceptional properties—such as its highest melting point of any element, extreme hardness, and excellent electrical and thermal conductivity—make it indispensable across various industries. Initially popularized in incandescent light bulbs, tungsten now underpins sectors ranging from aerospace and semiconductors to defense and industrial drilling.

    Tungsten carbide, second only to diamond in hardness, is crucial for metalworking tools and industrial drills, while tungsten crucibles facilitate the melting of other high-temperature materials. In the defense sector, tungsten is used for “penetrators,” armor-piercing projectiles currently in high demand amid the ongoing conflict in Ukraine.

    China’s Tightening Grip on Exports
    The global tungsten scarcity has been exacerbated by China’s export restrictions. The country’s first tungsten ore mining quota for 2024 was set at 58,000 tons—a 6.5% decrease from the previous year.

    “Since the Chinese export ban was announced, there has been an over-reliance on scrap supplies, but now those are running thin, and there’s growing panic over the inability to secure new primary tungsten material,” said Oliver Friesen, CEO of Guardian Metal Resources.

    The stakes are especially high for the United States, which ceased commercial tungsten mining in 2015 and remains heavily reliant on imports. A looming 2027 deadline mandates the US military to eliminate purchases of tungsten mined or processed in China or Russia—the latter being the world’s third-largest producer.

    North American Efforts to Secure Supply
    In response, Canada’s Almonty Industries recently announced an offtake agreement to provide tungsten oxide exclusively for US defense applications. The company operates tungsten mines in Spain, Portugal, and South Korea.

    “Almonty can produce enough tungsten for US/EU/Korea defense demand but not enough for the entire US/EU/Korea market—defense and civilian combined,” Almonty’s CEO Lewis Black stated. Shares of Almonty rose 4.6% in Toronto following the announcement, giving the company a market capitalization of C$688 million ($492 million).

    “Tungsten is a small market… But the industries that depend on it are exponentially bigger, which is why it is on everyone’s critical mineral list,” Reuters columnist Andy Home noted.

  • Uzbekistan’s Tech Metals Plant Joins International Tungsten Industry Association

    Uzbekistan’s Tech Metals Plant Joins International Tungsten Industry Association

    The Uzbek Technological Metals Plant (UKTM) has officially joined the International Tungsten Industry Association (ITIA), according to the Uzbek news agency UzA. The ITIA brings together leading global companies involved in the extraction and processing of tungsten. With this move, Uzbekistan becomes the first Central Asian country to be represented in the association.

    UKTM expects that membership in the ITIA will grant access to vital data and analytics on the global tungsten market and allow the plant to participate in international industry events.

    The plant was established in June 2024 by the Almalyk Mining and Metallurgical Combine under presidential directive. It is tasked with developing and processing Uzbekistan’s reserves of rare and rare-earth metals, including lithium, tungsten, tantalum, niobium, magnesium, and others.

    The enterprise is planning 34 research and geological exploration projects worth a total of $40 million. Farhad Abdullaev, formerly head of the Uchtepa district in Tashkent, has been appointed Chairman of the Board.

    Earlier this year, Uzbekistan announced its intention to launch rare-earth material projects worth $500 million. President Shavkat Mirziyoyev instructed a 10–15% reduction in production costs at Navoi Mining and Metallurgical Combine (NMMC), as well as the expansion of localization and industrial cooperation.

    In March, the President was presented with industrial projects totaling $2.6 billion, aimed at developing minerals critical to Uzbekistan’s economy. Among them was the development of the Ingichka deposit and value-added tungsten concentrate enrichment, expected to double its added value.

    The ITIA, founded in 1988, conducts tungsten market research, monitors regulatory developments, and coordinates scientific research. It currently includes 51 member companies from countries such as the U.S., Canada, the UK, Germany, China, and Japan.

  • Kazakhstan Leads Central Asia in Industrial Output

    Kazakhstan Leads Central Asia in Industrial Output

    In 2024, Kazakhstan emerged as the industrial leader of Central Asia, with total industrial output reaching $106.8 billion, according to the Ministry of Industry. This figure surpasses Uzbekistan’s output by 1.5 times, Kyrgyzstan’s by 16 times, and Turkmenistan’s by nearly 22 times.

    Kazakhstan ranked second in the region for processing volume at $52.2 billion, trailing only Uzbekistan. The country also placed second in the CIS, following Russia, which recorded $1.3 trillion in industrial output, including $896.5 billion from manufacturing. Other notable CIS figures include:

    • Uzbekistan: $68.3B (processing: $58B)

    • Belarus: $62.4B (processing: $56B)

    • Azerbaijan: $37.7B (processing: $11.2B)

    • Armenia: $7.6B (processing: $5.5B)

    • Moldova: $7.6B (processing: $4.6B)

    • Kyrgyzstan: $6.7B (processing: $5.2B)

    • Tajikistan: $4.9B

    • Turkmenistan: $0.5B (processing only)

    In 2024, Kazakhstan launched 180 industrial projects worth 1.3 trillion tenge, generating 14,400 permanent jobs. Key highlights include:

    • KamLitKZ Foundry (Kostanay): 45K tons of cast iron parts annually, 500 jobs

    • Boguty Tungsten Mining (Almaty): 3.3M tons of ore/year, 10K tons of concentrate, 350 jobs

    • Kyzyl Aray Copper: 30K tons of cathode copper/year, 780 jobs

    • Ulytau Gold: Producing 1.78 tons of gold and 1.98 tons of silver/year, 300 jobs

    • KZTA Valve Factory: 45K units/year, 200 jobs

    • TechnoNICOL Insulation Plant (Almaty): 1.4M m³ of stone wool/year, 220 jobs

    In 2025, 190 projects valued at 1.5 trillion tenge are expected to create 20,000 new jobs. Notable plans include:

    • Astana Motors Auto Plant (Almaty): $182B tenge, 2.2K jobs, capacity: 90K vehicles/year

    • KIA Plant (Kostanay): $90B tenge, 1.5K jobs, 70K vehicles/year

    • Liman Field Development (Aktobe): $241.4B tenge, 460 jobs, 1.2M tons of ore/year

    • Ekibastuz FerroAlloys Plant (Pavlodar): $92.4B tenge, 800 jobs, 240K tons of ferrosilicon/year

    • PZTM Rail Welding Plant (Aktobe): $21.4B tenge, 297 jobs, 825 km of rails and 290K sleepers/year

    • TEMPO Kazakhstan Steel Pipe Plant (Karaganda): $15B tenge, 400 jobs, 250K tons/year

    • QazAlPack Aluminum Packaging Modernization (Shymkent): $21.7B tenge, 112 jobs, 1.15B cans/year

    • Silumin of Qazaqstan Radiator Plant (Karaganda): $18.6B tenge, 183 jobs, 3.7M units/year

    President Kassym-Jomart Tokayev continues to emphasize the strategic importance of manufacturing, which experts say reflects a structural transformation of the economy, rising value-added production, and increased investment appeal.

    Meanwhile, S&P Global Ratings reaffirmed Kazakhstan’s sovereign credit rating at ‘BBB-/A-3’ with a stable outlook, citing strong fiscal and external buffers as key factors supporting resilience to external shocks.

  • Kazakhstan Targets Nearly ₸12 Billion Investment in Rare Earth Metal Development

    Kazakhstan Targets Nearly ₸12 Billion Investment in Rare Earth Metal Development

    Kazakhstan is set to attract nearly ₸11.79 billion (approx. $26 million) in investments for the exploration and development of rare earth metal deposits over the next four years, according to the Ministry of Industry and Construction.

    Currently, Kazakhstan does not produce rare earth raw materials. However, it already extracts several critical metals recognized by the EU, UK, and US, including beryllium, tantalum, niobium, fluorspar, titanium, rhenium, vanadium, antimony, bismuth, scandium, phosphorus, coking coal, bauxite, barite, copper, magnesium, tellurium, and manganese.

    The government has identified cobalt, tungsten, lithium, and other metals used in batteries and magnet production as key priorities. The national mineral reserve includes 56 cobalt deposits, 21 tungsten deposits, and 7 lithium fields. Exploration and production initiatives for lithium are already underway, including partnerships with German investors, potentially totaling $500 million if reserves are confirmed.

    As part of its 2024–2028 strategic plan, Kazakhstan aims to:

    • Expand its resource base,

    • Implement advanced extraction technologies,

    • Modernize production,

    • Develop new standards for critical minerals.

    The state budget and alternative funding sources will support this effort. In addition, Kazakhstan seeks to become a key player in the battery material supply chain. In 2024, it began manganese sulfate processing, capturing 5% of the global market.

    Several mid-term projects are also in development, including:

    • Cobalt, lithium, tin, and tungsten processing facilities,

    • A UK-Kazakh project in Zhezkazgan processing imported heat-resistant nickel alloys to extract rhenium,

    • A Chinese investment in tungsten trioxide production.

    The Ministry of Industry believes these initiatives will significantly strengthen Kazakhstan’s position in rare and critical metal production within three years. Kazakhstan is already a leading global producer of titanium, beryllium, and tantalum, and aims to attract new partners through technology transfer agreements.

    These moves align with Kazakhstan’s broader strategic partnership with the United States, particularly in energy and critical minerals. President Kassym-Jomart Tokayev has emphasized the importance of developing what he called the country’s “new oil” — critical minerals vital for the global energy transition.

  • UzKTK Aims to Boost Tungsten Production by 50 Times by 2030

    UzKTK Aims to Boost Tungsten Production by 50 Times by 2030

    Uzbekistan Technological Metals Combinat (UzKTK) has ambitious plans to significantly increase its production of tungsten and molybdenum by 2030. The company aims to boost tungsten production by a staggering 50 times and molybdenum production by 3.4 times in value terms.

    This announcement was made by Ulugbek Ruziyev, Deputy Head of UzKTK. He highlighted the company’s commitment to developing Uzbekistan’s rare metals sector, with 34 projects focused on exploration, extraction, and processing.

    UzKTK’s diverse project portfolio includes:

    • Exploration: 17 projects dedicated to identifying and assessing new deposits of lithium, tungsten, tantalum, niobium, graphite, and other rare earth metals.
    • Technology development: 8 projects focused on developing specialized technologies for processing rare metals.
    • Geological data analysis: 6 projects aimed at consolidating geological mapping, biochemical, and geophysical data.
    • Resource utilization: 3 projects focused on utilizing additional metals and rare elements.

    Established in July 2024 on the foundation of the “Rare Metals and Hard Alloys” scientific and production association, UzKTK is poised to become a key player in Uzbekistan’s burgeoning rare metals industry.

    This ambitious growth strategy aligns with the government’s focus on developing the rare metals sector. President Shavkat Mirziyoyev has called for $500 million in projects for the extraction and processing of rare earth metals, recognizing their growing importance in the global market.

    Uzbekistan has also strengthened international collaborations in this area, signing memorandums of understanding with the European Union and the United States on cooperation in critical raw materials. These partnerships will facilitate the development, financing, and infrastructure needed to support the sustainable supply of these valuable resources.

  • Development of the Aksoran deposit

    Development of the Aksoran deposit

    [vc_row][vc_column][vc_column_text]Source: Kazakh Invest[/vc_column_text][vc_raw_html]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[/vc_raw_html][vc_column_text]Products

    Average annual capacity:

    • 5,019 tons of tungsten in scheelite concentrate;
    • 227 tons of molybdenum in industrial products.

    Project

    Within the framework of the Project, it is planned to build a mining and processing plant (GOK) on the basis of the largest in Kazakhstan deposit of molybdenum-tungsten ores “Aksoran” for the production of tungsten in scheelite concentrate and molybdenum in industrial products. During the development of the deposit, it is planned to use a system of a sub-storey collapse with a face release of ore, which will then be sent for flotation enrichment.

    Company

    The initiator is “Esil-Mining” LLP, whose main activity is conducting geological exploration and surveys. The initiator has license No. 2-ML dated March 31, 2020 for the extraction of minerals at the Aksoran deposit (until 2045).

    Market

    • According to the forecast of Chromatus Consulting, it is expected that the global tungsten market will demonstrate a trend of stable growth from 3.27 billion US dollars in 2020 to 5.28 billion US dollars in 2028 with an average annual growth rate of 6.35% for this period.
    • World production of tungsten has an upward trend, despite the pandemic caused by the COVID-19 crisis in 2020 when production volume increased slightly by 0.2% (84 000 tonnes) compared with the year 2019 (83 800 tons).
    • According to the forecast Mordor Intelligence molybdenum consumption will increase c 247 thousand tons in 2020 to 303 thousand tons in 2025, demonstrating a CAGR of 4% from 2020 to 2025.

    What is the attractiveness of the project?

    • Estimation of reserves of the deposit. The reserves of the deposit were estimated according to the Kazakh KAZRC standard from the Committee of Geology, as well as according to the international JORC standard. The reserves were placed on the state balance sheet in 2019. Aksoran is among the richest tungsten deposits in Central Asia.
    • Contacts with potential consumers. The initiator received letters of interest to purchase its products from enterprises of China, Russia, Germany, Austria and Singapore.
    • Geographical location. The project has an advantageous location in terms of geographical proximity to China, the main consumer of tungsten.

    Investment offer

    The Project requires financing in the amount of 117,868 thousand US dollars:

    • 50% (58,934 thousand US dollars) – debt financing (if collateral is available);
    • 20% ($23,574 thousand) – equity * from 30% ($35,360 thousand) – investor participation.

    The proposed financing structure and measures of state support are indicative, the final structure of financing and participation in the Project will be determined based on the results of joint negotiations with the investor.[/vc_column_text][/vc_column][/vc_row]