From CNBC: 2024-08-28 05:18:15

Workers in Germany are expanding a mine to increase tungsten and fluorspar supplies. U.S. researchers recently visited a South Korean tungsten mine, aiming to boost global supply outside China. The Sangdong Mine, owned by Almonty Industries, could potentially supply 50% of the world’s tungsten. The U.S. aims to reduce reliance on foreign sources for critical minerals, including tungsten, as part of national security efforts.

The Biden administration has identified critical minerals, imposing tariffs on tungsten amid efforts to promote domestic production. China’s control over critical mineral supply chains raises concerns about potential export restrictions. Experts warn that Beijing may respond to U.S. tariffs with export controls on critical minerals, impacting global supply chains. The U.S. and other Western nations are looking to reduce dependence on China amid fears of export restrictions on critical minerals.

Read more: U.S. researchers visit Korean tungsten mine amid critical minerals race with China