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| Transition Metals |
US Antimony tungsten project in Canada gains momentum with the Fostung purchase. The company expands into tungsten amid tightening supply. This US Antimony tungsten project in Canada targets quick, cost-effective development using existing mills.
Deal terms and resource details
US Antimony acquired the Fostung properties in Ontario for $5mn in cash. Sellers retain a combined 1pc net smelter return royalty, plus a prior 1pc NSR. The project hosts 12.4mn t at 0.213pc tungsten trioxide, inferred category. The company expects rapid, inexpensive development using Canadian infrastructure.
North American tungsten supply implications
No commercial tungsten production operates today in the US or Canada. However, the US Antimony tungsten project in Canada could narrow the regional gap. China produced 83pc of global tungsten in 2024 under export controls. As a result, diversified North American supply becomes strategically important.
The company sees demand from machining, mill products, and furnace components. Meanwhile, the Fostung resource offers grade and scale for early optionality. Therefore, US Antimony plans to process ore through established Canadian milling capacity. This approach lowers capex and accelerates time to market.
US Antimony tungsten project in Canada aligns with reshoring trends. Transition Metals and 1930153 ON keep royalties, aligning long-term interests. The company has not disclosed a start date, preserving flexibility as studies advance.
The Metalnomist Commentary
Fostung gives US Antimony leverage in a constrained tungsten market. If processing routes lock in, this project could become a key North American swing supplier as policy and pricing evolve.
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