An essential metal for modern life
Tungsten may not be as widely known as iron or copper, but it is one of the most important metals for modern industry. It is present in products and technologies we use every day, often without us realizing it.
Tungsten is used in, among others:
- Metallurgical industry: industrial tools used to manufacture components for machinery, aerospace, and defence
- Telecommunications industry: mobile phones and electronic devices
- Energy sector: wind turbines and renewable energy technologies
- Medical industry: medical equipment, lasers, and scanners
- Sports industry: tennis rackets, golf clubs, and Formula 1 components
Without this metal, many of the technologies that underpin our modern economy simply would not be possible.
Unique and irreplaceable properties
Tungsten has exceptional physical properties. It is extremely hard, highly resistant to wear, and has the highest melting point of all known pure metals (3,422 °C).
These characteristics make it a key material wherever strength, precision, and durability are required under extreme conditions.
In addition, tungsten is virtually irreplaceable in many of its applications: there is currently no other material that can offer the same physical and technical properties for certain industrial uses. For this reason, it is considered a strategic metal for many advanced industries.
3,422 °C
is the melting point of tungsten
> 80%
of world production is concentrated in China
3 active mines
in Europe
Critical raw material
for the European Union
A highly concentrated market
Global tungsten production is heavily concentrated. More than 80% of global supply comes from China, which also holds a significant share of the world’s processing capacity.
This high level of concentration makes tungsten a particularly sensitive resource from a geopolitical perspective. Changes in trade policies or export restrictions can have a direct impact on global supply and market prices.
High dependency in Europe
At present, Europe produces only a small share of the tungsten it consumes. In fact, there are only a handful of active tungsten mines across the entire continent.
This dependence on external supply represents a challenge for key sectors such as automotive, metallurgy, advanced technology, and renewable energy, all of which rely on stable access to critical raw materials.
For this reason, the European Union has identified tungsten as a critical raw material and promotes the development of responsible mining projects within its territory.
A rapidly rising price
In recent years, the tungsten market has experienced a significant increase in prices. Between January 2025 and March 2026, the price of tungsten rose from USD 335/mtu to approximately USD 2,100/mtu — an increase of more than 500% in just 15 months.
This unprecedented rise has been driven by a combination of factors, including growing industrial demand and tightening global supply. To put this into perspective, during the same period the price of gold increased by around 65%, attracting significant media attention. However, as we can see, this increase is far below the growth observed in tungsten.
This trend reflects the growing strategic importance of tungsten across key industrial sectors and the increasing global competition to secure access to this essential metal.
A key resource for industry and employment
Ensuring access to raw materials such as tungsten is not only an economic issue. It is also essential for industrial security, technological competitiveness, and the protection of thousands of jobs across Europe.
In this context, the development of projects such as San Juan contributes to strengthening Europe’s supply of a metal that is essential for many strategic industries.