Distributed on behalf of Blue Moon Metals
Since the start of 2025, tungsten prices rocketed 622% higher, as noted by Visual Capitalist. For comparison, cobalt prices are up 134%. Lithium is up 108%. Copper is up 44%. Tungsten’s move even dwarfed the 196% price increase of tantalum. Most interesting, tungsten prices could move even higher, creating substantial opportunity for related companies such as Blue Moon Metals (TSXV: MOON) (NASDAQ: BMM), Almonty Industries (NASDAQ: ALM) (TSX: AII), American Tungsten (TSXV: TUNG) (OTCQX: TUNGF), Fox Tungsten (TSXV: FOXT), and Guardian Metal Resources (NYSE: GMTL) (OTCQB: GMTLF). Considering the U.S. military can’t build many modern weapons without it, there’s urgency. Used in armor-piercing rounds, missiles, tanks, fighter jets and more, there’s no easy substitute for it.
What makes the tungsten story so strong at the moment is Washington. Starting January 1, 2027, U.S. defense contractors will not be allowed to use tungsten that has passed through China at any point in the supply chain. Instead, every major defense contractor in America will need a new source of tungsten, which doesn’t exist just yet. There isn’t a producing tungsten mine in the United States today. And the first new American tungsten production isn’t expected until late 2027. In other words, the new rules could take effect months before new supply.
Companies that could help, include Blue Moon Metals (TSXV: MOON) (NASDAQ: BMM)
Blue Moon Metals announced that the Nevada Division of Environmental Protection, through its Bureau of Mining Regulation and Reclamation, has transferred the Water Pollution Control Permit and the Reclamation permit for its Springer tungsten project in Pershing County, Nevada, into the Company's name, and that the Project's reclamation closure bond has been approved and posted.
The WPCP and the Reclamation Permit are the principal state environmental authorizations for mine development in Nevada, governing the construction, operation, and closure of a mine's facilities. With the WPCP, Reclamation Permit and reclamation bond in place, the Company is authorized to commence construction activities at Springer, including refurbishment of the existing mill and activities authorized under those permits.
NOTICE OF CONSTRUCTION APPROVED FOR THE TAILINGS STORAGE FACILITY
The plans and specifications for the Project's tailings storage facility were previously approved by the Nevada State Engineer, and the facility as designed is authorized under the WPCP and Reclamation Permit. The Company completed a formal design review with an independent third-party engineering firm and, following direct engagement with the Nevada Division of Water Resources' Dam Safety Section, filed a Notice of Construction together with the technical review memorandum at the agency's direction. The Company received formal approval of the Notice of Construction on August 18, 2026, allowing construction of the tailings dam to begin on schedule.
Christian Kargl-Simard, CEO of Blue Moon, stated: “Since closing the purchase of Springer in February, our team has worked swiftly and diligently to advance the project. With these permits in hand, we are ready to start construction and on-track for a late 2027 startup, bringing tungsten production back to the United States. Springer will bring jobs and economic growth to Pershing County, reduce U.S. dependency on tungsten imports, and marks an important step in Blue Moon's growth as a critical minerals producer.”
Other related developments from around the markets include:
Almonty Industries, a leading global producer of tungsten concentrate, announced the commencement of processing plant throughput operations at its Sangdong Mine in Gangwon Province, South Korea. During June 2026, the Company began feeding stockpiled run-of-mine ore through its newly commissioned processing plant to produce saleable tungsten concentrate – a pivotal milestone marking Sangdong’s transition from mine development into active, revenue-generating operations. Almonty exited the first quarter of 2026 with approximately 120,000 tonnes of ore stockpiled at an average grade of 0.24% tungsten trioxide (“WO₃”). During the second quarter of 2026, the Company mined an additional approximately 19,700 tonnes of development ore at an average grade of 0.35% WO₃, while advancing 214.6 meters of underground development, primarily along the Main Vein. Together, this brings total stockpiled ore to approximately 139,700 tonnes at a blended grade of approximately 0.25% WO₃ ahead of the plant’s commissioning. We are utilizing lower-grade throughput during the initial ramp-up phase and anticipate higher grades as the process advances, with Sangdong’s low-grade ore approximately three times higher than that of our Panasqueira mine in Portugal. With throughput now underway, stockpiled ore is being introduced during the initial commissioning phase to optimize ore blending and maintain the consistent feed quality the plant requires as the operation ramps up. The Sangdong Mine processing plant is designed to upgrade run-of-mine ore into a high-purity tungsten concentrate.
American Tungsten announced several milestones toward advancing the Ima Mine, the Company’s past-producing tungsten mine located in Idaho, USA, where the Company continues to advance exploration activities aimed at expanding and further defining the scale of the historic tungsten system. “Our objective remains clear: systematically advance the project through exploration, resource development, engineering studies and permitting activities. The geological and technical work completed to date continues to demonstrate the strength of the mineralized system and supports our belief that there remains meaningful opportunity to expand the project’s long-term potential. In addition to the progress being made through drilling and resource development, our ongoing technical and due-diligence work has further enhanced our understanding of the continuity of key mineralized structures across the district, reinforcing the strategic importance of the Ima Project and the opportunities it may present as we continue to advance development plans,” said Ali Haji, President and CEO of the Company. “American Tungsten remains focused on advancing the Ima Project toward an updated Mineral Resource Estimate in the near term, providing the foundation for a Preliminary Economic Assessment to follow shortly thereafter.” The current drill program is designed to expand known mineralized structures along strike and at depth, with a particular focus on underexplored areas that exhibit strong geological continuity. The Company’s work to date has successfully advanced its objective of growing the resource base while further demonstrating the district-scale potential of the Ima Project. Results from six additional drill holes confirm that tungsten-silver mineralization in the No. 5 and No. 7 veins continues across more than 900 feet of strike length. In addition, drilling intersected multiple stacked footwall veins and extended the main Ima vein system over 800 vertical feet down dip.
Fox Tungsten provided an update on its fully funded 20,000 metre diamond drill program at the Fox Project in British Columbia, where drilling has successfully intersected visible scheelite mineralization in multiple target areas, including several previously unrecognized parallel mineralized zones at Fox North. Analytical results have not yet been received. However, visual observations from drilling completed to date provide encouraging indications that the Company's exploration program is successfully expanding the mineralized system. Highlights: Scheelite observed in 100% (3 of 3) exploration holes completed at Fox North. Scheelite observed in 100% (7 of 7) RC resource expansion holes drilled to date. Two diamond drill rigs operating; 20,000 metre program progressing on schedule. Initial assay results expected in the coming weeks. Fox North: Scheelite mineralization is visible in all three exploration holes at Fox North completed to date. Drilling has intersected multiple new parallel mineralized zones located between 375 meters and 675 meters west of the BK Zone. These new mineralized zones strengthen the Company's confidence in the geological model that the Fox deposit comprises a series of stacked, parallel tungsten-bearing zones and support the potential for significant expansion of the current Mineral Resource both laterally and vertically across parallel zones. RC Zone: Visible scheelite mineralization has been observed in all seven resource expansion holes drilled to date at the RC Zone. These scheelite-bearing intersections extend the known mineralized footprint to the south towards the BN Zone and support the Company's interpretation that mineralization remains open along strike.
Guardian Metal Resources, a strategic exploration company focused on tungsten in Nevada, USA, announced that it has entered into a strategic partnership with the Montana Mining Association to collaborate on a tungsten mining and recovery pilot program supporting domestic defense applications. The Partnership is also being advanced in conjunction with Montana Technological University and the Army Research Laboratory. As part of the Partnership, Guardian Metal will supply stockpiled legacy ore from its Tempiute Tungsten project, located near Rachel, Nevada, approximately 150 miles northeast of Las Vegas. Tempiute, formerly known as the Emerson Tungsten Mine, is a significant past producing tungsten mine, which was originally discovered in 1916 and most recently operated during the 1980s. As a critical defense metal, tungsten has been formally designated a strategic priority by the U.S. government. Guardian Metal's mission is to advance its co-flagship projects, Tempiute and Pilot Mountain, as a cornerstone of U.S. tungsten supply, directly supporting national efforts to reshore production. This strategy is expected to reduce reliance on foreign supply chains, strengthen economic and defense security, and deliver long-term value for shareholders. Matt Vincent, Executive Director of MMA, commented: "We are excited to work with Guardian Metal on this Partnership, which we feel is incredibly important to the industry and our nation's security. Guardian Metal's Tempiute material represents what we believe will prove to be an important domestic source of tungsten for this Partnership, as well as a demonstration of our Association's ability to effectively establish a broader network of critical minerals projects across the Mountain West."
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