Patriot Critical Minerals Targets US Tungsten Supply Amid Rising Prices
Tungsten prices are projected to increase due to a global supply shortage, with new mining projects needing up to three years for production. Patriot Critical Minerals plans to launch its Nevada tungsten project within this timeframe to enhance US supply and meet rising demand from key industries.
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Brodie Sutherland, CEO of Patriot Critical Minerals, anticipates that the US will face a tungsten supply shortage for at least two to three years. The company's Nevada project aims to commence production within three years, potentially contributing 20-25% of US demand.
Prices have surged from $300 to over $3,000 per metric tonne unit, driven by limited supply from China, which dominates 80% of global production. Sutherland notes that meaningful new supply is unlikely soon and suggests that Western nations are intensifying efforts to secure critical minerals.
The project represents a significant domestic resource after a 15-year gap in US tungsten production, yet further mines will be necessary to fully address supply chain reliance. Increased investment in critical mineral infrastructure is anticipated from countries like India, presenting opportunities for collaboration.
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