By Michelle Smith — Exclusive to Tungsten Investing News
Tungsten is a metal that is critical to modern life, but until now it has largely remained bel ow the investment radar. However, when a legendary investor such as Warren Buffet- or at least a firm in which he has major stakes- invests in a tungsten project, the metal is bound to become a subject of growing interest. Last month, Woulfe Mining (TSXV: WOF,OTCQX:WFEMF,FWB:OZ4) inked a deal with International Metalworking Companies (IMC), a member of Warren Buffet's Berkshire Hathaway. The companies agreed to create a tungsten pipeline in South Korea. The deal raised questions as to who has tungsten in their portfolio and what opportunities they see in the metal. According to an investment note provided by Christopher Ecclestone, Principal and mining strategist at Hallgarten & Company, tungsten has long been a metal of interest to the cognoscenti. And though the metal has not attracted the interest of broader portfolio investors, heavyweight trading houses have started to circle around players of merit. Tungsten is more than just an extremely hard metal. It is one around which modern life revolves, and in many of the applications for which it is used, there is no substitute. “If you are going to work with steel in almost any shape, then you need tungsten to machine it,” said Nick Smith, Manager of Investor Relations at Woulfe Mining. “Without tungsten western manufacturing comes to an end. You are not working with steel or metal without tungsten. There's no global mining unless you have tungsten tip drills.” Tungsten has a wide range of applications across many industries, including aviation, electronics, and medicine. But its role in making carbide-cutting tools is one of the ones that is most widely recognized.