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Current Affairs

China has dominated tungsten for decades. Can US cash in Central Asia loosen its grip?

The race to loosen China’s grip on tungsten is moving to Kazakhstan, where United States-backed mining projects are attempting to compete in an industry where…

By Samantha Johnson / October 3, 2026

The race to loosen China’s grip on tungsten is moving to Kazakhstan, where United States-backed mining projects are attempting to compete in an industry where Chinese investment already has an operating foothold.

Global tungsten prices have surged more than 200 per cent since May 2025, according to commodity and energy information provider Argus Media, adding urgency to efforts to develop alternative supplies. The soaring costs followed Beijing’s export controls on selected tungsten products introduced in February 2025 in a market already facing tight mine supply and increased demand from the defence industry.

The supply squeeze has reached US oilfield equipment makers, which are redesigning one of their most important tools as the global shortage raises the cost of making drill bits.

According to Ulterra Drilling Technologies, the cost of manufacturing drill bits had risen by as much as 50 per cent over the past year. The company is responding by shifting production towards steel-bodied models, even as bits containing more tungsten typically last longer when cutting through hard, abrasive rock.

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