Tungsten Miner Says Clients in Shock as China Chokes Supply
- Almonty CEO cites market concerns Beijing may lift scrap ban
- North American firm has operations in Portugal and South Korea
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The phone has been ringing off the hook for Lewis Black after China imposed export controls on tungsten, a niche metal mined by his firm that’s crucial to weapons manufacturing.
The chief executive officer of North America’s Almonty Industries Inc. said his customers are in a “state of disbelief” following Beijing’s move on Tuesday, one of a suite of measures announced as a riposte to tariffs placed on Chinese goods by the Trump administration.