US Government Injects $450M to Secure Tungsten Supply Chain via Elmet Group
Event summary
- US government committed $450M to The Elmet Group to bolster domestic tungsten supply chain.
- GoldHaven Resources Corp. drilling 800+ meters at Kuhn tungsten system in northern British Columbia.
- Historical drilling at Kuhn site returned intercepts of 0.55% WO₃ and 0.59% WO₃, but results pre-date NI 43-101.
- Magno Project in Cassiar district offers exposure to tungsten, silver, lead, zinc, copper, gold, and indium.
The big picture
The $450M investment underscores tungsten’s rising strategic importance for US national security, defense, and advanced manufacturing. GoldHaven’s Magno Project positions it within North America’s critical mineral supply chain, aligning with broader government efforts to reduce reliance on traditional sources. The focus on tungsten highlights a broader trend of state-backed capital targeting critical mineral independence.
What we're watching
- Government Priorities
- How US investment in tungsten supply chains will impact other critical mineral sectors.
- Exploration Validation
- Whether GoldHaven’s current drilling confirms historical tungsten estimates at Kuhn.
- Sector Consolidation
- The pace at which strategic investments accelerate M&A in the tungsten space.
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