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| Jiaxin |
Boguty Mine Expands Supply but Global Shortages Remain
The Boguty mine in Kazakhstan will officially start selling tungsten concentrate in the second quarter of 2025. According to Jiaxin International Resource Investment, the mine has been producing concentrate since November 2024.
Boguty is a joint venture between China's Jiangxi Copper and Hong Kong's Jiaxin International Resource Investment. It represents a major new source of tungsten concentrate for the global market.
The mine is expected to produce 5,979 tons of tungsten concentrate in 2025. Production will ramp up to 13,216 tons by 2028, according to Jiaxin's latest statement.
Global Tungsten Supply Still Faces Tightness
Despite Boguty’s new output, experts believe global supply constraints will continue.
China, the world's largest tungsten producer, produced 127,000 tons of concentrate in 2024, a 0.78% decline from 2023.
Industry participants note that Boguty's initial production will not significantly ease the shortage. High-grade tungsten resource depletion remains a major challenge for the sector.
As demand for tungsten strengthens across aerospace, defense, and energy sectors, supply pressures are unlikely to diminish soon.
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