Tungsten Buyers Post Record Numbers as a B.C. Explorer Flags a New Skarn Zone
Key Highlights
- ➤GoldHaven (GOH) sample returned 8,850 ppm tungsten, or 0.885% W, at Magno
- ➤Kennametal (KMT) fiscal Q1 sales rose 54% to $768 million
- ➤Kennametal reported record fiscal Q1 diluted EPS of $3.48
- ➤Elmet (ELMT) backlog reached a record $347.4 million, up 164% sequentially
- ➤Allied Critical Metals’ Borralha became Europe’s only tungsten project among 46 Strategic Projects
Expert Statements
Rob Birmingham, President and CEO of GoldHaven Resources
“The discovery of a new high-grade tungsten occurrence returning 8,850 ppm tungsten is an exciting development for GoldHaven. Our 2026 exploration program continues to demonstrate that Magno’s mineral potential extends well beyond our existing drill targets. With additional tungsten and molybdenum occurrences now identified across previously underexplored areas, we see significant opportunities to continue expanding our exploration footprint.”
VANCOUVER, British Columbia, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Equity Insider News Commentary - Two U.S.-listed companies that turn tungsten into cutting tools and engineered components have just reported record figures, a record first quarter EPS at one and a record order backlog at the other. Upstream, explorers in North America and Europe are adding new tungsten occurrences, strategic designations and new listings as Western buyers look for supply outside China. Active Companies from around the markets with current developments this week include: GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS), Kennametal Inc. (NYSE: KMT), The Elmet Group Co. (NASDAQ: ELMT), Fireweed Metals Corp. (OTCQX: FWEDF), and Allied Critical Metals Inc. (OTCQB: ACMIF).
The Business Research Company puts the global tungsten market at approximately $6.66 billion in 2026 and projects about $9.62 billion by 2030, a compound annual growth rate of roughly 9.6%. Policy is pushing in the same direction. A U.S. Commerce Department allocation order requires U.S. sellers of tungsten waste and scrap to allocate 100% of their monthly sales to domestic buyers from August 27, 2026 through August 27, 2027, and from January 1, 2027, U.S. defense procurement rules restrict tungsten sourced from China, Russia, Iran and North Korea in key military applications.
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