Tungsten Mining and Refinement Ventures

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Tungsten Mining and Refinement Ventures

Inspired by a conversation on:

The Acquirers Podcast

The Acquirers Podcast

Liquid real assets with Will Thomson of Massif Capital; Natural gas, tungsten and tin | S07 E33

Host: Tobias Carlisle

Timestamp: 26:00 - 28:00

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Feather Flow

Direct Quote

"There was really for all intents and purposes, only one publicly listed tungsten miner, Almonte."

Market Gap

Limited tungsten supply threatens industrial manufacturing.

Tungsten is a critical metal used in various industries, particularly in manufacturing and defense. The current market is primarily dominated by a few production regions, with significant geopolitical risks affecting supply. Notably, the reliance on a singular tungsten miner in the public markets highlights the vulnerability of this supply chain. With the demand for tungsten expected to rise due to its applications in electronics and military equipment, the lack of new mines and the challenges faced by existing ones could result in supply shortages. Companies investing in tungsten mining and refinement could address this shortage while capitalizing on market demand, providing a necessary service to various sectors.

Summary

This business idea revolves around creating or investing in tungsten mining operations, especially in regions where new deposits are being discovered, such as Portugal and South Korea. By focusing on sustainable mining practices and efficient processing methods, the business can ensure a consistent supply of tungsten to various industries. The target market includes manufacturers that require tungsten for their products, particularly in electronics and defense. Given the current lack of competition in tungsten mining, this venture presents a significant opportunity for growth and profitability, especially as demand continues to rise.

Categorization

Business Model
Marketplace
Target Founder
Subject Matter Expert
Difficulty
High
Time to Revenue
6-12 months
Initial Investment
> $10,000

Potential MRR (18-24 months)

Conservative
$5,000 - $15,000 MRR
Moderate (Most Likely)
$20,000 - $40,000 MRR
Optimistic
$100,000 - $200,000 MRR

* Estimates assume solo founder/bootstrap scenario with competent execution

Scores

Clarity
8/10
Novelty
8/10
Feasibility
5/10
Market Potential
9/10
Evidence
8/10
Overall
7.6/10
Found on September 26, 2025 • Analyzed on September 26, 2025 6:23 PM

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How should I validate this marketplace idea before building it?

2:34 PM

Great question! For a marketplace idea like this, I'd recommend starting with these validation steps:

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  2. MVP approach: Build a simple landing page to test demand
  3. Competitor analysis: Research existing solutions and identify gaps

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