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In February, the US government launched Project Vault, allocating $12 billion to build a national reserve of critical metals, particularly tungsten, to decrease reliance on China, which controls about 80% of the global tungsten market. American Tungsten & Antimony is exploring the Tennessee Mountain tungsten project and plans to validate historical high-grade mineralizations.

The company aims to produce a modern resource estimate in compliance with the JORC standard. The US has invested hundreds of millions in domestic critical metal projects and plans to prohibit Chinese tungsten imports for defense purposes starting in 2027, increasing pressure on US defense contractors to establish alternative supply chains.