The price of high-purity tungsten hexafluoride has surged over 200% year-on-year to over 1,700 yuan ($251) per kg due to supply bottlenecks and rising demand from the semiconductor industry. Japanese producers Showa Denko Kanto and Central Glass plan production suspensions in July, potentially disrupting supply to major chipmakers like Samsung Electronics.
North Korea's tungsten concentrate exports to China surged over 13 times in volume and nine times in value from January to April compared to last year, reaching $75.17 million. This increase comes as China seeks to bolster its strategic mineral supply and North Korea aims to earn foreign currency.
The EU is planning its first joint stockpile of critical minerals like tungsten, rare earths, and gallium to reduce dependence on China. Major ports like Rotterdam are being considered for storage. This move aims to insulate the EU economy from China's production dominance and leverage in trade disputes.
Donald Trump Jr. and Eric Trump gained exposure to a Kazakhstan tungsten project through Nasdaq-listed Skyline Builders, which signed an agreement to merge with Cove Kaz Capital Group creating Kaz Resources Inc. The deal ties Trump-family-linked capital to a critical minerals venture near $1.6 billion in conditional federal financing interest from EXIM and DFC. The transaction highlights governance questions around knowledge, influence, and final financing commitments, though no suggestion exists that the Trump sons knew of or influenced government support.
A shell company backed by Donald Trump Jr. and Eric Trump has agreed to merge with Cove Kaz Capital, a mining group that received up to $1.6 billion in US government funding in 2025 for tungsten extraction in Kazakhstan. The newly-formed entity will trade on Nasdaq as Kaz Resources. Cove Kaz controls major tungsten deposits in Kazakhstan, one of the world's largest. The Trump sons invested in Skyline Builders last August via Dominari Securities and added $24 million in October. Democrats have raised concerns about conflicts of interest, while the article notes no suggestion the Trumps knew about or influenced the government contract.
