Proton Lithium (3PL), a US mining development company, recently discovered the largest tungsten deposit in the United States during its Railroad Valley Minerals Project, a drilling project in a remote area of the Great Basin desert in eastern Nevada. However, approximately one-third of the mining rights cover an area used for receiving and tracking satellite signals, and NASA has stated that mining activities could threaten the operation of these facilities. 3PL Chairman and CFO Kevin Moore stated, “The US stopped tungsten mining a decade ago and now relies on imports. The size of the deposit means this is not just a mining issue, but a national security issue.”
The company estimates the deposit to contain 1.78 million tons of resources. If it proves commercially viable, its size will be more than five times that of the second-largest tungsten deposit in the US. Based on current tungsten prices, 3PL estimates the deposit to be worth approximately $152 billion. Tungsten prices have surged in recent years due to severe global supply shortages. The currently published resource assessment does not include the area NASA has blocked from drilling.
Tungsten is a key material in cutting tools, mining equipment, aerospace components, and semiconductor manufacturing. Driven by growing demand from industries such as electric vehicles, aerospace, defense, electronics, and industrial manufacturing, tungsten market prices have surged by nearly 600% since February 2025. According to analyses from multiple market research institutions, the global tungsten market size was approximately US$5.4 billion to US$7.3 billion by 2025, and is projected to grow to US$9 billion to US$11.6 billion between 2034 and 2035, representing a compound annual growth rate of 4.8% to 8.1%.
