Defense Stockpile Orders Send Explorers Back to Old Tungsten Camps
VANCOUVER, BC, Oct. 9, 2026 /PRNewswire/ -- Equity Insider News Commentary - The global tungsten market is valued at approximately $6.66 billion in 2026 and is projected to reach about $9.62 billion by 2030, a compound annual growth rate of roughly 9.6%, according to The Business Research Company. Washington is now putting purchase orders behind that demand. In September, the U.S. Defense Logistics Agency awarded an indefinite-delivery, indefinite-quantity contract with a ceiling of up to $2 billion for tungsten ores, concentrates and sodium tungstate to support the national stockpile, and the Department of War committed a separate $450 million investment to the same domestic supplier. Active Companies from around the markets with current developments this week include: GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS), Almonty Industries Inc. (NASDAQ: ALM), Guardian Metal Resources plc (NYSE American: GMTL), Kennametal Inc. (NYSE: KMT), The Elmet Group Co. (NASDAQ: ELMT).
Mordor Intelligence sizes one of the largest downstream segments separately, estimating the tungsten carbide powder market at approximately $16.25 billion in 2025 and about $20.89 billion by 2030. The two firms measure different slices of the value chain, but both point in the same direction.
The deadline driving the buying is fixed. Beginning January 1, 2027, U.S. defense procurement rules restrict tungsten sourced from China, Russia, Iran and North Korea, and a U.S. Commerce Department order in effect since August 27, 2026 requires domestic sellers of tungsten waste and scrap to allocate their monthly sales to domestic buyers for one year. The United States has reported no domestic tungsten mine production for more than a decade, which leaves new Western ore, and the drilling that has to come first, as the bottleneck.
That is sending capital back to historically drilled systems in North America, where modern drilling can test geology that was last examined decades ago. One of those programs finished its first round of drilling this week in northern British Columbia.
GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) Intersects Skarn 80 Metres from Prior Deep Skarn Intercept at Kuhn; Drilling Now Underway at D Zone
- Final hole GOH26-08, drilled from a second pad, intersected skarn at depth approximately 80 metres south along strike from the lower skarn in GOH26-04.
- The two intercepts sit on separate drill sections and, according to the Company, suggest continuity of the system between the two drill locations.
- The lower skarn interval in GOH26-04 is currently interpreted at approximately 20 to 45 metres true thickness.
- Eight holes totaling 1,729 metres completed at Kuhn, the first modern systematic drill test of the target. Assays are pending.
- Drill mobilized to D Zone, where historical drilling returned 7.6 metres grading 240 g/t silver, 4.73% lead and 4.74% zinc.
GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) reported that the final hole of its 2026 drill program at the Kuhn tungsten-skarn target, on its district-scale Magno Project in the Cassiar District of northern British Columbia, has intersected skarn at depth from the Company's second drill pad. The intercept in GOH26-08 sits approximately 80 metres south along strike from the newly discovered lower skarn the Company reported in GOH26-04 from its first pad in September.
GoldHaven completed eight holes totaling 1,729 metres of fan-style drilling from the two pads, which sit approximately 80 metres apart. The program was designed to improve the geological understanding of the geometry, thickness and continuity of the tungsten-bearing skarn system. GOH26-04 encountered magnetite, garnet and diopside skarn, together with zones of semi-massive to massive sulphide and stockwork-style mineralization, hosted within limestone, marble and dolomite. Based on the Company's current interpretation, the lower skarn interval is approximately 20 to 45 metres true thickness, depending on the inclusion of associated stockwork-style mineralization. GoldHaven describes that interpretation as preliminary.
Core from GOH26-08 between 220.0 and 220.3 metres displays semi-massive to massive sulphide skarn mineralization. Core from the Kuhn program is being logged, sampled and submitted for laboratory analysis, and the Company has said assays will ultimately determine the grade and significance of the skarn intervals, with further drilling required to determine the structure, geometry and continuity of the formation.
GoldHaven President and CEO Rob Birmingham commented:
"Hole 8 is an important development for us at Kuhn. From our second drill pad, approximately 80 metres from Hole 4, we have again intersected skarn mineralization at depth. Seeing skarn in both locations is exactly the type of geological evidence we were hoping to establish with this first modern drill program.
"We are still waiting for assays and further work will be required to determine continuity and grade, but we believe these results materially strengthen the geological case for a potentially larger skarn system at Kuhn. We have completed eight holes and 1,729 metres, and now have substantially more information to guide the next phase of exploration."
With Kuhn complete for the season, the drill has moved to D Zone, a polymetallic target where silver-lead-zinc mineralization is hosted in carbonate rocks of the Lower Cambrian Atan Group as bedding-parallel "manto" bodies and crosscutting "chimney"-style zones. Historical drilling at D Zone reported 7.6 metres grading 240 g/t silver, 4.73% lead and 4.74% zinc, a result that predates NI 43-101 and has not been verified by a Qualified Person for the Company. The current drilling is designed to test the geometry and potential extensions of that mineralization.
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In other industry developments and happenings in the market this week include:
Almonty Industries Inc. (NASDAQ: ALM) recently announced that its Sangdong processing plant in South Korea received the final operational certification required to commercially operate the plant and sell tungsten concentrate, making Phase I commercially operational. More than 90% of Phase I production is contracted to Global Tungsten & Powders, a member of the Plansee Group, for 21 years from first delivery.
"Tungsten prices are at historic highs," said Lewis Black, Chairman, President and CEO of Almonty. "With more than 90% of our Phase I production already contracted for 21 years from first delivery, the task in front of us is a simple one: operate the plant safely, ramp it steadily and deliver."
Guardian Metal Resources plc (NYSE American: GMTL) recently reported drilling results from its Tempiute tungsten project in Nevada, a historically producing skarn system. Phase II resource drilling returned 92.0 metres grading 0.34% WO3 from 102.5 metres in hole TP26-046, including 12.7 metres at 0.53% WO3. True thicknesses are not yet known.
The company has completed 28 of approximately 46 planned Phase II holes, with assays pending for 24, and expects underground rehabilitation of historical workings to begin in October 2026. "These exciting drilling results represent an important step forward for Tempiute," said Oliver Friesen, CEO. Tempiute has no mineral resource or reserve estimate yet.
Kennametal Inc. (NYSE: KMT), a manufacturer of tungsten carbide tooling and wear-resistant products, recently reported fiscal fourth quarter 2026 sales of $737 million, up 43% from the prior-year quarter, with record adjusted earnings per share of $2.96.
"We achieved record adjusted EPS this quarter through decisive pricing actions in an unprecedented tungsten environment, volume growth and cost improvement efforts," said Sanjay Chowbey, President and CEO. The company attributed negative operating cash flow for the year primarily to higher inventory values from unprecedented tungsten price increases and to advance payments made to suppliers to secure raw material.
The Elmet Group Co. (NASDAQ: ELMT) recently announced that its subsidiary Elmet Technologies was awarded an approximately $36 million Defense Logistics Agency contract to supply molybdenum and tungsten alloys and precision wire for jet engine components and other aerospace applications.
The award is separate from the up to $2 billion stockpile contract for tungsten concentrates and sodium tungstate the company announced on September 14. "As a vertically integrated U.S. manufacturer, we believe this contract further demonstrates our role as a trusted domestic source of critical materials and precision-engineered components," said Derek Fox, President of the Critical Materials Components Division.
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References to Almonty Industries Inc., Guardian Metal Resources plc, Kennametal Inc. and The Elmet Group Co. are provided solely as market and sector context. Those companies are not peers, competitors, or financial comparables of GoldHaven Resources Corp., none of them is involved in this publication, their results are not indicative of GoldHaven's prospects, and no partnership, affiliation, or endorsement is implied. GoldHaven Resources Corp. is not a party to any of the government contracts described. Market-size figures cited from The Business Research Company and Mordor Intelligence are third-party global projections and do not represent revenue addressable by GoldHaven.
Cautionary Note Regarding Exploration Results: The drilling observations described in this publication are visual and preliminary. No assay results have been received for the Kuhn intervals described, and the presence of skarn alteration or sulphide mineralization is not evidence of economic grades of tungsten or any other metal. The lower skarn interval in GOH26-04, currently interpreted at approximately 20 to 45 metres true thickness, is the Company's preliminary interpretation and may be refined as additional geological, structural and assay information becomes available. Additional drilling will be required to establish continuity between drill sections. The historical D Zone drill result of 7.6 metres grading 240 g/t silver, 4.73% lead and 4.74% zinc predates NI 43-101 and has not been independently verified by a Qualified Person for GoldHaven. GoldHaven has not defined any current mineral resource or mineral reserve at the Magno Project. The technical information in GoldHaven's release was reviewed and approved by Raymond Wladichuk, P.Geo., B.Sc., a Qualified Person as defined under NI 43-101 who is a consultant to the Company and is not independent. Readers should refer to the Company's filings at www.sedarplus.ca. Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of GoldHaven's release.
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Forward-Looking Statements: This publication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and forward-looking information under applicable Canadian securities laws. Forward-looking statements can be identified by words such as "expects," "anticipates," "intends," "plans," "may," "will," "could," "should," "believes," "estimates," "potential" and similar expressions, and include, without limitation, statements regarding the interpretation of continuity of the Kuhn skarn system, the preliminary true thickness interpretation, the receipt and significance of assay results, the objectives of drilling at D Zone, the integration of drilling with historical and geophysical data, the next phase of exploration, tungsten market conditions and government policy. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including the results of exploration, the availability of financing, commodity prices, regulatory approvals, and general economic conditions. Forward-looking statements speak only as of the date of this publication, and we undertake no obligation to update them except as required by law.
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