Tungsten Prices Surge Fivefold as Western Miners Race to Secure Supply
MWN-AI** Summary
Tungsten prices have surged dramatically, increasing fivefold over the past year due to a combination of prolonged underinvestment and a sharp decline in Chinese exports, which fell to near zero in late 2025. As a result, ammonium paratungstate is trading at around $1,775 per metric tonne, prompting fears of a potential global shortage, according to analysts from BMO. The escalation in tungsten prices mirrors a broader tightening in the market for critical minerals, with copper prices also hitting record levels above $11,000 per tonne.
In response to these market dynamics, Western miners are racing to secure tungsten supplies, with various companies advancing projects in favorable mining jurisdictions, including GoldHaven Resources and Wheaton Precious Metals. The U.S. State Department has been proactively engaging with representatives from 54 nations to strengthen supply chains, channeling billions into critical minerals initiatives.
GoldHaven has recently appointed Raymond Wladichuk as Technical Advisor to enhance its capabilities in developing the Magno Project in British Columbia. A recently completed $2 million financing aims to facilitate exploration and drilling, with promising preliminary results indicating significant mineralization in the region.
Meanwhile, major players in the mining sector like Ivanhoe Mines and Taseko Mines are reporting robust financial performance while advancing significant projects to meet escalating demand for copper and other base metals. These strategic moves are essential as supply deficits loom, driven by accelerating electrification and rising defense spending.
Overall, the surge in tungsten prices underscores the urgent need for Western miners to ramp up production to avoid a critical shortfall, while also highlighting the geopolitical and economic challenges faced in securing essential resources.
MWN-AI** Analysis
Tungsten prices have surged dramatically, rising fivefold over the past year due to a perfect storm of underinvestment and soaring demand. Currently trading at approximately $1,775 per metric tonne unit, the drastic rise in tungsten prices signals imminent supply constraints largely driven by near-zero Chinese exports since late 2025. This development raises critical implications for investors in the mining sector and beyond.
The current volatility presents both risks and opportunities. Companies that are proactively securing resources to advance critical mineral projects, such as GoldHaven Resources, are well-positioned to capitalize on this scarcity. Such firms can potentially deliver substantial returns driven by escalating tungsten prices as they continue exploration and development in stable jurisdictions. Investing in companies that have firm financial backing, like GoldHaven, which recently raised $2.0 million for its Magno Project, offers a layer of confidence underlined by technical expertise.
Moreover, the U.S. government’s commitment to strengthening domestic critical mineral supply chains underscores a favorable regulatory environment for mining companies. The successful tapping of billions toward these initiatives could create additional momentum in the sector.
In the broader context, rising copper prices—forecasted to surpass $11,000 per tonne—further accentuate a tightening commodities market. The interplay between these two significant metals could create a ripple effect. Investors should monitor companies adept at navigating these complexities and those that may benefit from acquisitions, partnerships, or downstream integration.
Overall, a diversified approach that focuses on emerging opportunities within the mining sector, particularly around tungsten and copper, may afford substantial advantages in a market poised for significant transformation. As always, due diligence is recommended for all investments, particularly in a landscape characterized by rapid price fluctuations.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Canada NewsWire
Issued on behalf of GoldHaven Resources Corp.
VANCOUVER, BC, Feb. 26, 2026 /CNW/ -- USA News Group News Commentary -- Tungsten prices have surged fivefold over the past year as prolonged underinvestment and tightening Chinese exports push the market toward what BMO analysts warn could become a severe global shortage, with ammonium paratungstate now trading at approximately $1,775 per metric tonne unit after Chinese exports plummeted to near zero in late 2025[1]. Copper price forecasts have jumped above $11,000 per tonne for the first time, according to a Reuters poll of analysts who remain wary about speculative excess even as supply deficits widen across base metals markets[2]. Companies advancing critical mineral projects in stable mining jurisdictions include GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF), Wheaton Precious Metals (TSX: WPM) (NYSE: WPM), Capstone Copper (TSX: CS), Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF), and Taseko Mines (TSX: TKO) (NYSE-A: TGB).
The U.S. State Department hosted representatives from 54 countries at the 2026 Critical Minerals Ministerial in February, signing new bilateral frameworks and channeling billions through federal funding programs to accelerate domestic and allied critical minerals supply chains[3]. StoneX estimates the copper market deficit will nearly double to 333,000 tonnes in 2026, up from 174,000 tonnes the prior year, as accelerating electrification and rising defense procurement strain existing supply[4].
GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF) has appointed Raymond Wladichuk as Technical Advisor to the Company, joining the BC geological team with a primary focus on advancing the Magno Project. Mr. Wladichuk is a Professional Geoscientist (P.Geo.) registered in multiple Canadian provinces with over 15 years of experience across mineral exploration, engineering, and construction. In his role, he will support drill permitting initiatives and the strategic design of the Company's 2026 work program.
"We are very pleased to add Raymond to our geological team at a pivotal time for the Company," said Rob Birmingham, President & CEO of GoldHaven. "His experience in exploration, engineering, and project execution will be instrumental as we advance the Magno Project, including drill permitting and the strategic planning of our 2026 exploration program. Strengthening our technical team ensures we are well-positioned to efficiently move Magno forward."
The appointment follows a $2.0 million critical mineral flow-through financing to advance the district-scale Magno Polymetallic Project in British Columbia's Cassiar District. The non-brokered private placement will issue up to 7,547,170 flow-through shares at $0.265 per share, with proceeds directed toward eligible Canadian exploration expenses qualifying as critical mineral flow-through expenditures. The financing is expected to fund 3D geological modeling, target refinement, and drill planning through 2026.
The financing follows a productive 2025 exploration campaign at Magno that defined property-scale porphyry-related zonation across the 36,973-hectare project, where 357 samples revealed bonanza silver grades up to 2,370 grams per tonne and tungsten values reaching 6,550 ppm across multiple skarn zones. Strong and widespread tungsten mineralization at the Kuhn and Dead Goat zones further confirms the scale of the system. The company also confirmed high-grade copper at its Three Guardsmen Project, with surface sampling returning up to 15.85% copper.
In Brazil, GoldHaven recently confirmed gold mineralization in bedrock at its Copeçal West Target, where the first-ever drilling returned 39 meters at 0.11 g/t gold from 58 meters depth. Hole COPE-PDH-006 returned 7 meters at 0.46 g/t gold including 1 meter at 1.21 g/t, while the inaugural East Target program discovered bornite, suggesting potential for a substantial gold-copper system.
GoldHaven now controls 133,186 hectares across proven mining jurisdictions in British Columbia and Brazil, with the Magno property located just three kilometres south of the historic Cassiar mining camp and accessible via Highway 37, providing infrastructure advantages rarely present at projects of this scale. All projects are supported by a comprehensive 43-101 Technical Report.
CONTINUED… Read this and more news for GoldHaven Resources at:
In other industry developments:
Wheaton Precious Metals (TSX: WPM) (NYSE: WPM) has acquired an additional silver stream on the Antamina mine in Peru through a new partnership with BHP. The company paid $4.3 billion for 33.75% of Antamina's silver output, bringing its combined share to 67.5% of all silver produced from one of the world's largest copper-zinc operations jointly owned by BHP, Glencore, Teck, and Mitsubishi.
"Quality silver production is becoming increasingly difficult to source while demand continues to rise for both critical industrial uses and for silver's safe haven qualities in today's economic environment," said Randy Smallwood, CEO of Wheaton Precious Metals. "Our expanded stream on Antamina reinforces Wheaton's role as one of the largest silver producers in the world and further adds to one of the strongest growth profiles in the mining sector."
Under the agreement, Wheaton pays 20% of the spot silver price per ounce delivered, maintaining the low-cost streaming model that has defined the company's growth trajectory. The stream covers deliveries until 100 million ounces are reached, after which the company retains 22.5% for the remainder of the mine life through 2036, providing decades of predictable silver exposure from a tier-one jurisdiction.
Capstone Copper (TSX: CS) has issued 2026 guidance projecting 200,000 to 230,000 tonnes of copper production at C1 cash costs of $2.45 to $2.75 per pound. The company delivered record copper production in 2025, up 22% year over year, while advancing several key operational catalysts including the Mantoverde Optimized Project in Chile. Gibraltar produced 98 million pounds of copper in 2025, with second-half production increasing 46% after mining through lower-grade ore zones in the first half.
"2025 was a remarkable year for Capstone, delivering record copper production up 22% year-over-year, while executing on several key catalysts," said Cashel Meagher, President and CEO of Capstone Copper. "We will continue to build on this success in 2026, with a focus on delivering consistent and reliable outcomes, while we execute on MV-O which is expected to drive higher copper production levels in 2027."
A sanctioning decision on the Santo Domingo copper-iron project is expected in the second half of 2026, potentially adding another long-life asset to the portfolio. Capstone has allocated a $70 million exploration budget for the year as the company positions itself to capitalize on tightening copper supply fundamentals and record-setting price environments across base metals. Record revenue and a strengthening balance sheet provide the financial foundation for continued disciplined growth.
Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) has reported Q4 and full-year 2025 results headlined by $3.28 billion in revenue and $1.45 billion in EBITDA at a 44% margin from its Kamoa-Kakula copper complex in the Democratic Republic of Congo. The company's Kipushi zinc mine generated $441 million in revenue during its ramp-up year, with C1 costs guided at $0.85 to $0.95 per pound for 2026.
"2026 marks a decisive turning point for Ivanhoe Mines, a year in which the extraordinary efforts made at each of our Tier-One mines coincide with increasingly tighter global commodity markets," said Robert Friedland, Founder and Executive Co-Chairman of Ivanhoe Mines. "As copper prices push to historic highs, we are turning the corner at Kamoa-Kakula following the 2025 seismic event."
Africa's largest copper smelter is now operating above 60% capacity, with the first 99.7%-pure copper anodes expected to ship via the Lobito Railway Corridor imminently. Ivanhoe's Platreef Phase 2 expansion targets a 400% production increase beginning in Q4 2027, underscoring the company's trajectory toward becoming one of the continent's largest copper producers. Kipushi's 2026 C1 guidance of $0.85 to $0.95 per pound positions the zinc operation as a low-cost contributor to diversified revenue.
Taseko Mines (TSX: TKO) (NYSE-A: TGB) has announced strong Q4 financial results alongside the commencement of copper cathode production at Florence Copper in Arizona. Full-year 2025 adjusted EBITDA reached $230 million on revenues of $673 million, while Q4 cash flow from operations hit $101 million as the Gibraltar mine produced 98 million pounds of copper for the year. Adjusted net income for Q4 reached $42 million as copper grades and recoveries returned to normal levels in the second half.
"2025 was a productive and highly successful year for Florence Copper. With construction and commissioning now behind us, we're looking forward to the first cathode harvest in the coming days," said Stuart McDonald, President and CEO of Taseko Mines. "Results from the initial wellfield operations are positive and we are targeting to produce 30 to 35 million pounds of copper in 2026."
The company is targeting combined 2026 copper production of 140 to 150 million pounds across Gibraltar and the Florence operation. Three drill rigs are currently expanding the Florence wellfield with a fourth arriving on site, supporting the ramp-up to full production capacity as Taseko enters a new phase of dual-asset copper output. The company's Florence SX/EW plant is fully operational with copper now being plated through the electrowinning circuit.
Article Source: https://usanewsgroup.com
CONTACT:
USA NEWS GROUP
(604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for Baystreet.ca Media Corp. ("BAY"), who has been paid a fee for an advertising campaign. MIQ has not been paid a fee for GoldHaven Resources Corp. advertising or digital media, but the owner/operators of MIQ also co-owns BAY. There may also be 3rd parties who may have shares of GoldHaven Resources Corp. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by GoldHaven Resources Corp. The scientific and technical information disclosed in this document have been reviewed and approved by two Qualified Persons (QPs). The Copeçal Technical Report identifies Jean-Marc Lopez, B.Sc., FAusIMM, as the Qualified Person responsible for the report. The report "GoldHaven Resources Completes Summer Exploration Programs" states that the technical information has been reviewed and approved by Jonathan Victor Hill, B.Sc. Hons, FAusIMM, an independent Qualified Person and Country Manager of GoldHaven. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
SOURCES:
1. https://www.mining.com/tungsten-crunch-can-be-fixed-before-prices-spike-further-bmo/
3. https://www.state.gov/releases/office-of-the-spokesperson/2026/02/2026-critical-minerals-ministerial
Logo - https://mma.prnewswire.com/media/2838876/5826092/USA_News_Group_Logo.jpg
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2026/26/c8138.html
FAQ**
How could the surge in tungsten prices impact the strategic decisions of companies like Capstone Copper Corp Com CSCCF as they advance their critical mineral projects in response to tightening supply chains?
With tungsten trading at approximately $1,775 per metric tonne, what are the potential investment opportunities for Capstone Copper Corp Com CSCCF in securing alternative metal supplies?
As the U.S. government channels billions into critical minerals supply chains, how might this influence the competitive landscape for Capstone Copper Corp Com CSCCF and other miners?
Given the projected copper market deficit, how will Capstone Copper Corp Com CSCCF balance its operations in light of rising tungsten prices and demand for copper?
**MWN-AI FAQ is based on asking OpenAI questions about Sprott Inc. (NYSE: SII).
NASDAQ: SII
SII Trading
4.9% G/L:
$162.21 Last:
89,630 Volume:
$159.71 Open:
