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Allied Critical Metals advances tungsten projects in Portugal amid soaring prices and supply risks.

Market News
28 May 2026
Newsfile Corp
View Source
Bullish
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Allied Critical Metals Inc. is progressing two tungsten projects in northern Portugal, including a Preliminary Economic Assessment for the Borralha project showing a $964 million NPV at $1,500 per MTU. The company is conducting a 20,000-metre drill campaign and aims to produce tungsten concentrate by the end of 2026 at its Vila Verde pilot plant. This development is significant as tungsten prices hit record highs and over 90% of global supply comes from countries with geopolitical risks. Allied's projects in a stable European jurisdiction offer a strategic western source of this critical metal used in defense, aerospace, and manufacturing.

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