Woulfe Mining Corp WFEMF

Japan will need tungsten for new generation bullet trains

[StockExpertPro]

Critical Metals: Why you should add Platinum to your list (and make sure tin and tungsten are already there)

Tasman’s CEO Mark Saxon sums it up succinctly: he says more than 80% of tungsten is sourced from Chinese mines and therefore this metal presents similar resource security challenges to those posed by rare earth elements. “Since 2008, Chinese domestic demand has exceeded its own supply, resulting in a near-doubling of price for tungsten concentrate over this period and a gradual increase in total traded volume. Tungsten demand growth has consistently outperformed GDP growth,” says Saxon. The Japanese government, through its Japan Oil, Gas and Metals National Corp (JOGMEC), is backing the development of a tungsten mine in Queensland, Australia. The managing director of Vital Metals (ASX:VML) says he expects JOGMEC involvement to potentially pave the way for future investment in the Watershed mine by either Mitsubishi or Sumitomo. Tungsten will be needed by Japan for strengthening steel to be used in a range of products, including the new generation bullet trains which should start to roll out from 2025.

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