Tungsten in the world

We’ve talked about tungsten in China. Today, we will discuss tungsten in the world.

Compared to “glittering matter”, such as gold, steel-gray to tin-white colored tungsten invokes little enthusiasm amongst resource investors. While tungsten chemical properties contribute to the diversity of tungsten applications.

Unlike many other metals, there are no significant substitutes for tungsten. Substitutes that do exist has considerable cost increase and compromise of product performance. The closest substitute, molybdenum, is even more expensive. So it is assumed that tungsten is unlikely to be replaced.

The world economy demands much of tungsten coming from industrial nations. Demand is particularly high from the US due to tungsten’s military and defense applications. US has no domestic tungsten source and is entirely dependent on imports.

China controls 65% of world tungsten reserves. Of the total estimated reserves of tungsten, Canada and Russia account for just 8% and 7% of tungsten reserve respectively. Due to its own tungsten reserves, Russia is to emerge as a reliable potential supplier. This makes Canadian tungsten companies particularly be attractive to the key US market and advanced stage projects.
All above are about tungsten in the world.

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