Pure Tungsten Highlights 500% Surge in "War Metal" Tungsten Price Amid Rising Global Conflict

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Ssangjon Mine advancing toward first tungsten concentrate shipment in June 2026, as Pure Tungsten nears completion of its C$5 million pre-IPO financing

HAMILTON, BM / ACCESS Newswire / March 9, 2026 / Pure Tungsten Inc. ("Pure Tungsten" or the "Company") highlights the rapidly strengthening market for tungsten, often referred to as the "war metal," as global defense spending accelerates and governments seek to secure supply chains for critical military materials. In light of the recent surge in tungsten prices, the Company is currently updating its financial forecasts and development plans for the historic Ssangjon tungsten mine in South Korea ahead of a planned public listing in Canada in H1 2026.

Amidst ongoing conflicts in the Middle East and Ukraine, demand for tungsten has surged as governments accelerate defense production and secure supply chains for critical military materials. Tungsten is indispensable for the production of armor-piercing ammunition, missile systems, jet turbine components, and other aerospace and military technologies, making it one of the most strategically important metals in modern warfare.

The price of tungsten concentrate has risen sharply since the beginning of 2025, recently reaching levels equivalent to roughly $220,000 per tonne. The Company believes the current pricing environment could significantly enhance the economics of new non-Chinese tungsten supply and strengthen the strategic importance of projects such as Ssangjon.

Against this backdrop, Pure Tungsten expects to deliver its first shipment of tungsten concentrate from the Ssangjon mine in South Korea by June 2026, positioning the Company as one of the few emerging non-Chinese tungsten suppliers capable of supplying Western markets.

Pure Tungsten CEO, Tiger Kim, commented:

"We are proud to report that our Ssangjon mine will be back into production for the first time since 1974 in the current environment of strong tungsten prices. It's the result of four years of hard work and planning with the first concentrate shipment planned for June 2026."

Pure Tungsten's large tungsten resource at the Ssangjon mine and operational mill is capable of producing high-quality tungsten concentrate and represents one of the most development-ready non-Chinese supply sources globally. Initial production is targeted at approximately 1,000 tonnes of concentrate per annum, representing roughly 8% of current non-Chinese tungsten supply, with potential for further expansion. The Ssangjon mine is situated approximately 23 kilometers from Almonty Industries' Sangdong tungsten mine, which is also scheduled to resume production this year.

The project benefits from strong government support under South Korea's Critical Minerals Initiative, reinforcing the country's commitment to securing strategic supply chains for essential materials.

With legislative tailwinds in the United States, Europe, and South Korea promoting the development of critical mineral projects outside China, and with severe shortages of non-Chinese tungsten supply looming, the timing of Pure Tungsten's production launch could not be more aligned with global strategic priorities.

For more information on Pure Tungsten, please visit the link here.

Or contact:

Edward Balme | IR Manager

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+44 7514 584 610

SOURCE: Pure Tungsten Inc