Pure Tungsten to Produce 2,000 Tpy Next Year and 4,000 the Year After?

Why It Matters

The company’s projected margins and strategic role in defense make it a potentially lucrative play on a scarce, geopolitically‑sensitive metal.

Key Takeaways

• Pure Tungsten targets 2,000 tpy in 2025, 4,000 tpy 2026.
• Projected revenue $400M at $200k per ton price.
• Cost base capped at $15k per ton, >90% margin.
• Geopolitical tensions drive tungsten premium over Chinese supply.
• Military demand ensures long‑term restocking despite war outcome.

Summary

Pure Tungsten announced plans to lift output to 2,000 metric tons next year and double that to 4,000 tons the following year, positioning the company to out‑scale rivals such as EQT and Almonty.

Using a $200,000‑per‑ton price assumption, the firm projects roughly $400 million in annual revenue. Management estimates a maximum production cost of $15,000 per ton, implying gross margins north of 90 percent.

The CEO highlighted tungsten’s historic military value—citing Germany’s WWII shortage and Spain’s wartime neutrality—as a parallel to today’s Ukraine conflict. He noted that Western buyers now pay a 10‑20% premium over Chinese prices, reflecting strained supply and heightened defense demand.

If the forecasts hold, Pure Tungsten could become a high‑margin, strategically critical supplier for defense and industrial markets, attracting capital seeking exposure to scarce critical minerals amid geopolitical uncertainty.

Original Description

The tungsten price has been roaring away lately, and has recently hit $300,000/t. It's the perfect time to be bringing tungsten projects on stream, and Pure Tungsten has not one but two projects on the go. The first, in South Korea, should be up and running by the summer, while the second, in Tajikistan will be producing within a year. These projects will then scale up, to the point where Pure Tungsten could well end up challenging established players like Almonty. The mines are big, the grade is good, and the price is right. Pure Tungsten executive director Jeremy Gray joins Vox to tell us more.

Pre-IPO Investment Opportunity: https://www.puretungsten.ca/puretungsten-equity-raise-rn?SQF_LEAD_SOURCE=vx