Tungsten has many applications. It’s used in electrical wires, as well as in welding, heavy metal alloys, turbine blades and as a lead substitute in bullets.The metal can also be found in heating and electrical contacts.
With that in mind, it’s worth being aware of which countries produce the most tungsten. Here’s an overview of the top tungsten-producing countries last year; data is from the US Geological Survey.
Mine production: 63,000 MT
China produced 3,000 MT less tungsten in 2023 as it did in 2022, but remained the world’s largest producer by a wide margin. That said, China’s tungsten production has been falling in recent years — the Asian nation has limited the quantity of tungsten-mining and export licenses it awards, and has imposed quotas on tungsten concentrate production. The country has also recently increased environmental inspections.
In addition to being the world’s largest tungsten producer, China is the world’s top consumer of the metal. Aside from that, China has been the main source of tungsten imported into the US since 2017, reportedly representing 27 percent of total American tungsten imports between 2019 and 2022.
Mine production: 3,500 MT
Vietnam’s tungsten production in 2023 came to 3,500 MT, down by 500 MT from the previous year. Privately owned Masan Resources runs the Vietnam-based Nui Phao mine, which it says is the largest tungsten-producing mine outside China. It is also one of the lowest-cost producers of tungsten in the world.
Mine production: 2,000 MT
Russia’s tungsten production remained flat in 2023. The war between Russia and Ukraine has hampered Russia’s ability to trade and make deliveries of tungsten to the world market as it continues to face sanctions.
Mine production: 1,700 MT
Mine production: 1,500 MT
Bolivia has managed to increase its tungsten production since 2014 as a result of moves to promote the tungsten industry in the country. The South American nation’s output increased to 1,500 MT in 2022 from 1,360 MT the previous year.
The Bolivian mining industry is heavily influenced by Comibol, a state-owned mining umbrella company.
Mine production: 1,500 MT
Spain’s tungsten production tied with Bolivia this year, after rising by 87.5 percent over the previous year to1,500 MT in 2023.
Mine production: 1,400 MT
Rwanda produced 1,400 MT of tungsten in 2023, on par with 2022’s output. Tungsten is one of the most common conflict minerals in the world, meaning that at least some of it is produced in war zones and is sold to perpetuate fighting.
Mine production: 910 MT
Austria was the eight largest producer of tungsten in 2023, putting out 910 MT, on par with the previous year. Much of that production can be attributed to Wolfram’s Mittersill mine, which is located in Salzburg and hosts Europe’s largest tungsten deposit.
Mine production: 800 MT
Australia’s tungsten production increased by 300 percent to overtake Portugal for the ninth spot on this list. The country’s 2022 output of the metal came to 200 MT, compared to 800 MT in 2023.
Mine production: 500 MT
Portugal is another country on this list that saw its tungsten production remain flat in 2023. It put out 500 MT of the metal, on par with the 500 MT produced in the previous year.
The European country has the lowest known tungsten reserves figure out of all the nations on this list, totaling just 4,000 MT. The Panasqueira mine is Portugal’s largest tungsten-producing operation.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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