Vancouver, BC, Feb. 10, 2025 (GLOBE NEWSWIRE) -- American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF) (FSE:RK9) ("American Tungsten" or the "Company") reaffirms its strategic position amidst China's expanded tungsten export controls in response to escalating U.S.-China trade tensions. In a dramatic shift within the global minerals market, the Chinese government has expanded its export controls on key minerals - including tungsten - in response to recent U.S. tariffs.
This strategic move is expected to further tighten the global supply of tungsten, a critical material for advanced manufacturing, aerospace, and defense applications, and positions American Tungsten to play a potentially pivotal role in meeting growing domestic demand.
Key Highlights:
- Chinese Policy Shift: Following U.S. tariff measures on Chinese goods, Beijing has broadened its export restrictions on essential minerals. The inclusion of tungsten in these controls underscores China's intent to protect its strategic resources and results in potential disruptions through international supply chains.
- Domestic Advantage: With anticipated disruptions to global tungsten supply, American Tungsten's robust domestic production strategy is now more crucial than ever. The Company is uniquely positioned to potentially supply high-quality tungsten to U.S. manufacturers and defense contractors, ensuring supply chain resilience and bolstering national security efforts.
- Industry Impact: The new export controls are expected to lead to:
- Enhanced Supply Security: Reduced reliance on imported tungsten will help stabilize supply chains for key U.S. defense and industrial sectors.
- Competitive Edge for U.S. Producers: American Tungsten intends to be ready to meet increased demand, potentially expanding market share and driving innovation in tungsten-based technologies.
- Economic Growth: Strengthening the domestic tungsten market supports job creation and promotes investment in advanced manufacturing sectors.
"China's recent decision to further restrict tungsten exports marks a significant turning point for the global minerals market," said Murray Nye, CEO of American Tungsten. "This policy change not only underscores the strategic importance of tungsten, but also highlights the urgent need for a reliable, domestic source of this critical mineral. American Tungsten is planning to be fully prepared to meet this demand, ensuring that the U.S. has access to the high-quality tungsten they require for innovation and national defense."
ABOUT AMERICAN TUNGSTEN CORP.
American Tungsten Corp. (previously Demesne Resources Inc.) is a Canadian-based company involved in the acquisition and exploration of magnetite mineral properties. The Company's Star Project consists of five contiguous mineral titles covering an area of approximately 4,615.75 hectares located in the Skeena Mining Division, British Columbia, Canada. The Company has entered into an option agreement pursuant to which it is entitled to earn an undivided 100% interest in the Star Project. American Tungsten has also entered into an option agreement, pursuant to which it can acquire a 100% interest (subject to a 2% royalty) in and to the IMA Mine Project, a past producing underground tungsten mine situated on 22 patented claims located in East Central, Idaho, United States.
Social media links:
LinkedIn: https://www.linkedin.com/company/americantungstencorp/
X: https://x.com/amtungsten
Facebook: https://www.facebook.com/americantungsten
Instagram: https://www.instagram.com/americantungstencorp/
YouTube: https://www.youtube.com/@americantungstencorp
ON BEHALF OF THE BOARD OF DIRECTORS:
Murray Nye
?CEO
1055 West Georgia Street, Suite 1500
Vancouver, BC V6E 0B6
Canada
For further information, please contact:
Murray Nye, CEO
Email: ir@americantungstencorp.com
Phone: +1 (416) 300-7398
CSE:TUNG
OTCQB:DEMRF
FSE:RK9
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.
This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements in this news release include, but are not limited to, statements respecting the use of proceeds of the Offering. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
