Global tungsten market projected at $9.62 billion by 2030

Canada NewsWire

VANCOUVER, BC , Aug. 21, 2026 /CNW/ -- USA News Group News Commentary - Tungsten spent most of the last decade as an industrial afterthought, priced quietly behind the metals that draw headlines. Two years of export controls, defense procurement rules and a price move unmatched anywhere else in the critical minerals complex have turned it into a supply problem governments now legislate around. The Business Research Company projects the global tungsten market growing from roughly $6.66 billion in 2026 to about $9.62 billion by 2030, a compound annual growth rate near 9.6%. Active Companies from around the markets with current developments this week include: GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS), Almonty Industries Inc. (NASDAQ: ALM), Guardian Metal Resources plc (NYSE American: GMTL), Fireweed Metals Corp. (OTCQX: FWEDF), Allied Critical Metals Inc. (OTCQB: ACMIF).

The firm attributes the growth to rising adoption in precision engineering, expanding use in high-performance alloys, and demand from aerospace, defense, electronics and power generation, applications where tungsten's density and melting point leave few practical substitutes.

Other forecasters size the opportunity differently but point the same direction. Mordor Intelligence puts the tungsten carbide powder market at $16.25 billion in 2025 and $20.89 billion by 2030, and identifies Chinese export controls and multi-year-high ammonium paratungstate prices as the reasons end users are diversifying suppliers. The common thread across the forecasts is that policy, rather than product demand alone, is what generates the urgency.

The price record makes the point more bluntly than any forecast. Visual Capitalist, working from the International Energy Agency's Global Critical Minerals Outlook 2026, reported that tungsten rose 622% between January 2025 and April 2026, more than three times the increase recorded by the next-ranked mineral among 27 tracked, attributing the pressure to strong demand and Chinese export controls.

Washington has since converted that pressure into rules. On August 6, 2026, the Bureau of Industry and Security published a temporary final rule implementing a Directive Allocation Order that requires U.S. sellers of tungsten waste and scrap to allocate 100% of monthly sales to domestic buyers, effective August 27, 2026 and running through August 27, 2027, following a Presidential Determination issued on July 30. Separately, from January 1, 2027, U.S. defense procurement rules are set to restrict tungsten sourced from China, Russia, Iran and North Korea in key military applications. The United States currently has no active tungsten mines, which is why the scrap stream is being fenced in and why new Western hard-rock supply, and the exploration that has to precede it, is drawing capital and government support.

GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) Receives Exploration Permit for Magno Project; Maiden Drill Program Imminent -

Exploration permit received for the 100%-owned Magno Project in the Cassiar District of northern British Columbia, clearing the final regulatory gate ahead of drilling.

Northtech Drilling Ltd. contracted for an inaugural 5,000 to 7,000 metre diamond drill program, with mobilization advancing toward commencement.

Magno hosts 24 potential target zones across more than 37,000 hectares, and the maiden program tests three of them.

Initial drilling commences at Kuhn-Dead Goat, home to a historical estimate of approximately 616,500 tonnes grading 0.48% WO₃ across four modelled tungsten-bearing lenses, which is not a current mineral resource.

High-grade polymetallic surface results across Magno include 55.3 g/t gold, 2,370 g/t silver, 6,550 ppm tungsten and 334 ppm indium.

GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) ("GoldHaven" or the "Company"), a Canadian junior exploration company advancing mineral projects in North and South America, announced that it has received its exploration permit for the Company's 100%-owned Magno Project in the Cassiar District of northern British Columbia. The permit clears the final regulatory gate ahead of GoldHaven's maiden diamond drill program at Magno.

Northtech Drilling, contracted July 2, 2026, is advancing mobilization toward commencement of drilling. The initial program will begin at the Kuhn tungsten-skarn target before advancing to the Magno and D Zone mineralized centres. Historical work at Kuhn-Dead Goat outlined four mineralized lenses forming a historical estimate of approximately 616,500 tonnes grading 0.48% WO₃, and the Company's planned drilling there is intended to test that historically defined mineralization and evaluate its continuity and potential extensions along strike and at depth.

The Magno and D Zone targets carry a different signature. Recent follow-up metallic screen analyses returned gold values of up to 55.3 g/t, while previous surface exploration returned values of up to 2,370 g/t silver, greater than 20% lead, 19.25% zinc, 334 ppm indium and 2.87% copper. The strongest gold values identified to date are concentrated within those two centres and are spatially associated with interpreted structural corridors identified through the Company's airborne magnetic survey.

That survey, a 2,320.7 line-kilometre airborne magnetic program, represents the first modern property-wide geophysical dataset across the consolidated Magno Project. Integration of the magnetic data with geological mapping, historical exploration and surface geochemistry has provided a new structural framework for drill targeting and identified interpreted corridors associated with several known mineralized centres.

"We've spent the past year building the strongest geological foundation this project has ever had," said Rob Birmingham, CEO of GoldHaven. "2,320 kilometres of modern airborne magnetics, surface geochemistry across 354 samples, high-grade gold confirmed at 55.3 g/t alongside tungsten, silver, zinc and indium, all sitting within the same structural corridor. The permit clears the last gate before the drill turns."

Birmingham added that the sequencing is deliberate. "We start at Kuhn, where historical drilling confirmed shallow tungsten mineralization, giving us a well-defined starting point for the program. From there, we plan to move to the Magno and D Zone targets, where high-grade gold, silver and polymetallic mineralization at surface provide a compelling second phase of drill targets." He noted that this is the first drill program under GoldHaven's ownership, testing three priority areas within a much larger 37,000-hectare exploration opportunity.

With the permit issued, the Company is advancing final preparations for the 2026 campaign, including drill-site planning, logistical preparations and contractor coordination, and intends to commence drilling following completion of applicable pre-disturbance requirements.

GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) is a Canadian junior exploration company focused on advancing highly prospective mineral projects in North and South America. The Company's flagship asset is the district-scale Magno Project in the Cassiar District of northern British Columbia. GoldHaven also owns the Three Guardsmen copper-gold project in British Columbia and the Copeçal Gold Project in Mato Grosso, Brazil, and holds a portfolio of critical mineral projects in Brazil.

There are several risks associated with the Company's plans. GoldHaven is an exploration-stage company and the Magno Project has no current mineral resource or mineral reserve. The historical estimate referenced above constitutes a historical estimate under National Instrument 43-101; a Qualified Person has not completed sufficient work to classify it as a current mineral resource or mineral reserve, and the Company is not treating it as one. Verification would require review and validation of the historical data, verification drilling and completion of an updated mineral resource estimate by a Qualified Person. Interpreted magnetic anomalies and structural corridors are conceptual exploration targets, and a magnetic anomaly is not evidence of mineralization. Surface values are selective in nature and are not necessarily representative of mineralization on the property. There is no assurance that drilling will commence on the timeline described, that pre-disturbance requirements will be satisfied as expected, or that any drill program will encounter mineralization of economic significance. The technical and scientific information in the Company's release was reviewed and approved by Raymond Wladichuk, P.Geo., a non-independent Qualified Person as defined under NI 43-101 and a consultant of the Company. Please refer to the Company's forward-looking statements disclosure and its filings on SEDAR+ for additional discussion of the assumptions and risk factors associated with these statements.

CONTINUED... Read this and more news for GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) at: https://usanewsgroup.com/

In other industry developments and happenings in the market this week include:

Almonty Industries Inc. (Nasdaq: ALM) , a tungsten producer whose Sangdong mine in South Korea moved into processing operations in July 2026, announced on August 17, 2026 that its board approved a new share repurchase program authorizing the buyback of up to 14,400,000 common shares for an aggregate purchase price of up to $300 million over 36 months, beginning August 24, 2026.

The buyback lands against an operational turn. Coverage of the second quarter of 2026, including an August update note from Diamond Equity Research, put revenue at C$43.0 million against C$7.2 million a year earlier as Sangdong began contributing. The Company has also rationalized its listings, delisting from the Toronto Stock Exchange effective July 31, 2026 and continuing to trade on Nasdaq under ALM and in Frankfurt.

Guardian Metal Resources plc (NYSE American: GMTL) , an exploration company focused on tungsten in Nevada, published a pre-feasibility study for its 100%-owned Pilot Mountain project in late June 2026. At a base case tungsten price of US$197,300 per tonne of WO₃, the study indicated an after-tax NPV at an 8% discount rate of US$660.3 million and a post-tax internal rate of return of 59.6%, on initial capital of US$288.7 million for a 4,000 tonne-per-day open-pit operation producing roughly 1,990 tonnes of WO₃ in concentrate per year over an initial eight-year mine life.

The study is supported by a US$6.2 million Defense Production Act Title III investment awarded to the Company's U.S. subsidiary, and Guardian has targeted submission of a mine Plan of Operations to the Bureau of Land Management in August 2026, the filing that initiates the National Environmental Policy Act process. The Company has also targeted an initial shipment of Tempiute ore to Montana for tungsten pilot processing in late summer 2026.

Fireweed Metals Corp. (OTCQX: FWEDF) , a Lundin Group company advancing the Macpass district in Yukon, is running an updated feasibility study on its 100%-owned Mactung tungsten project, which the Company has described as the world's largest high-grade tungsten deposit. Wood Canada leads study integration with Ausenco on process plant design and SLR updating the resource model, with a technically robust study targeted for early 2027.

Mactung is supported by a U.S. Department of War award under Defense Production Act Title III, with eligible project expenditures reimbursable at the 50% level up to a C$22.5 million award total. Fireweed returned to the district in June 2026 with a focused program that included drilling at Mactung in support of the feasibility study alongside work at the adjacent Macpass zinc-lead-silver project.

Allied Critical Metals Inc. (OTCQB: ACMIF) , which is advancing the past-producing Borralha and Vila Verde tungsten projects in northern Portugal, announced on August 12, 2026 that it has applied to list its common shares on the Nasdaq Capital Market, a move CEO Roy Bonnell tied to a broader investor base, increased research coverage and improved liquidity. The listing remains subject to Nasdaq's criteria and regulatory approvals, with no assurance it will be completed.

The application runs alongside efforts to close a U.S.$15 million non-brokered private placement at U.S.$2.05 per share with an existing and a new strategic investor. The Company has said it is financed to complete a 20,000 metre drill campaign at Borralha, where a favourable Environmental Impact Declaration supports advancement toward feasibility, and has ordered long-lead items for the Vila Verde pilot plant. July drill results included 23.8 metres of 0.68% WO₃ at Santa Helena and 13 metres of 1.00% WO₃ at the Venise Breccia, including 3 metres of 4.15% WO₃.

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References to Almonty Industries Inc., Guardian Metal Resources plc, Fireweed Metals Corp. and Allied Critical Metals Inc. are provided solely as market and sector context. Those companies are not peers, competitors, or financial comparables of GoldHaven. They are at materially different stages of development, and their resources, reserves, studies, financings, drill results and share performance are not indicative of GoldHaven's prospects. No partnership, affiliation, sponsorship, or endorsement is implied, and none of them has any involvement in GoldHaven, this article, or its distribution. Market size figures cited are third-party projections that vary materially by source and are not presented as addressable revenue for any company named.

Readers are cautioned that mineral exploration is highly speculative and that most exploration projects do not result in a mine. The Magno Project has no current mineral resource or mineral reserve. The historical estimate referenced in this article is a historical estimate under National Instrument 43-101, has not been verified or classified as a current mineral resource or mineral reserve by a Qualified Person, and should not be relied upon as such. Interpreted magnetic anomalies and structural corridors are conceptual exploration targets and are not evidence of mineralization. Surface sample results are selective in nature and are not necessarily representative of mineralization on the property. Historical drill intercepts have not been verified by the Company and are reported as core lengths, which are not necessarily true widths.

Eagle Eye is an investor signal-intelligence platform affiliated with the publisher of this article, and this reference constitutes promotion of an affiliated product. Eagle Eye is not a broker-dealer, and nothing in the platform or in this article is financial, investment, tax, or legal advice. Data provided in the platform is for informational purposes only and may be delayed.

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August 21, 2026 - 5:46 AM PDT

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