NASA is opposing further development of a newly discovered Nevada tungsten deposit that its finder values at $152 billion, warning that mining there would disrupt satellite-signal tracking in the Great Basin Desert. The find could become the largest tungsten deposit in the United States at a time when China controls roughly 80% of global supply and prices have surged. The clash shows how national-security ambitions and regulatory hurdles are colliding as Washington tries to cut its dependence on Chinese critical minerals.
NASA has moved to block further work on what could become the largest tungsten deposit in the United States, arguing that mining in a remote stretch of Nevada's Great Basin Desert would interfere with its tracking of satellite signals sent to Earth from space. The agency has already blocked drilling in the section of the desert it uses for that tracking.
A $152 billion tungsten find
The company behind the discovery, 3 Proton Lithium, drilled in that same remote section of the desert and put the resource at 1.78 million tons of tungsten, five times the size of the next-largest U.S. deposit. At current tungsten prices, the company estimates the find is worth $152 billion, though the deposit's commercial viability is not yet proven.
3 Proton Lithium's chief executive, Kevin Moore, frames the discovery as bigger than a mining play. According to Moore, "It is a national security story".
China's grip drives the price surge
Tungsten prices have surged 600% since last year. The rally followed export limits China announced earlier this year, layered on stronger military demand amid two ongoing wars. China currently controls about 80% of the global tungsten market.
Washington has been chasing critical minerals for about five years, outbidding allies in the European Union for supply. Over that stretch, the U.S. has spent about $46 billion trying to build a mineral supply chain independent of China.
That effort will take time, mirroring how long China took to build its own dominance. The Nevada discovery, if its viability holds up, would still need to clear NASA's objection before it can add to that supply.
Source: Oilprice.com
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