- Spearmint Resources (CSE: SPMT, OTC: SPMTF) has expanded its Sisson North Tungsten Project to 4,890 acres.
- The expansion comes amid rising tungsten prices and supply uncertainties due to China's export controls.
- The company aims to capitalize on increasing demand for domestic sources of strategic materials.
Spearmint Resources Inc. (CSE: SPMT, OTC: SPMTF) has significantly expanded the Sisson North Tungsten Project in New Brunswick, increasing its area from 2,582 to approximately 4,890 acres. This expansion strategically positions the project adjacent to the Sisson Tungsten Mine, enhancing its potential development prospects.
This development occurs amid significant changes in the tungsten market, influenced by China's export controls, implemented in February 2025. These controls necessitate export licenses for tungsten shipments, citing national security, leading to increased tungsten prices and supply uncertainties. These conditions are particularly impacting sectors such as defense and clean energy.
James Nelson, President of Spearmint, emphasized the robust demand for tungsten caught in global tariff disputes and underscored the strategic importance of securing domestic sources of this critical material. He noted the favorable market conditions with elevated commodity prices and record-high gold prices, positioning Spearmint to capitalize on these trends.
In response to China's export controls, many companies and countries are seeking alternative sources and strategies to mitigate the impact on global tungsten supply chains. Tungsten's unique properties, such as high melting point and durability, make it essential in various applications, including military and aerospace technologies. This has increased its value and strategic importance in light of the current market dynamics.
The expansion of Spearmint's Sisson North Tungsten Project aligns with the company's broader strategy to leverage these market conditions and enhance its portfolio of strategic mineral projects.
