# Western Tungsten Scramble Heats Up as China Locks Down 80% of Global Supply Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/western-tungsten-scramble-heats-up-as-china-locks-down-80-of-global-supply--df199128-1918-401a-8bdd-065ef77ce671 Original source: https://money.tmx.com/en/quote/NGEX/news/8986308981945382/western-tungsten-scramble-heats-up-as-china-locks-down-80-of-global-supply Publisher: tmx Original announcement: 2026-02-11T13:25:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: NGEx Minerals - Ticker: NGEX - Exchange: TSX - Region: Argentina - Primary commodity: Copper - Secondary commodities: Gold, Silver - Document categories: Drill results, Agreement transaction - Extracted: 2026-09-14 15:07:40 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary NGEx Minerals reported significant drill results from its Phase 4 program at the Lunahuasi project in Argentina. Highlights include a 131m intercept at 5.09% CuEq \(including 5m at 29.05% Cu\) and a 1,246.5m intercept at 0.86% CuEq. Reasoning: The announcement reports high-grade copper-equivalent intercepts and significant continuous mineralization at the Lunahuasi project, reinforcing the potential for both stockwork and massive sulphide systems. - Positive factor: high-grade massive sulphide vein mineralization - Positive factor: broad stockwork mineralization - Positive factor: significant intercept length Facts used in scoring: 3 ## Classification and evidence **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The company is extending the boundaries of the mineralized envelope. Evidence · text > NGEx Minerals continues to extend the boundaries of the mineralized envelope ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Drill Results (3) ### DPDH057 [Link to this fact](https://atlas-extractions.minestarters.com/news/western-tungsten-scramble-heats-up-as-china-locks-down-80-of-global-supply--df199128-1918-401a-8bdd-065ef77ce671#fact-drill-facts-0) Lunahuasi · copper #### Identity - Hole ID: DPDH057 - Project: Lunahuasi - Commodity: copper - Region: argentina - Reported Region: argentina - Ticker: NGEX #### Geometry - Grade: 5.09 - Grade Unit: % - Intercept: 131 m #### Classification - Sample Type: drill - Group ID: DPDH057:null-null - Mining Method: unknown #### Location - Loc. Confidence: medium #### QA/QC - QP Signed: Yes #### Metal Equivalent - Metal Eq. Grade: 5.09 - Metal Eq. Unit: % CuEq #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-02-11T00:00:00.000Z Reasoning: A 131m intercept at 5.09% CuEq is a very strong result for a copper-gold project. - Positive factor: high-grade intercept - Positive factor: significant width Evidence · text > 131.00 metres at 5.09% copper equivalent #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Metal Equivalent Opaque** Polarity: negative Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Requires an actual metal equivalent grade; a combined elemental basket such as PGE is not a metal equivalent. Why it applies: an equivalent grade is reported without its assumptions ### DPDH057 [Link to this fact](https://atlas-extractions.minestarters.com/news/western-tungsten-scramble-heats-up-as-china-locks-down-80-of-global-supply--df199128-1918-401a-8bdd-065ef77ce671#fact-drill-facts-1) Lunahuasi · copper #### Identity - Hole ID: DPDH057 - Project: Lunahuasi - Commodity: copper - Region: argentina - Reported Region: argentina - Ticker: NGEX #### Geometry - Grade: 29.05 - Grade Unit: % - Intercept: 5 m #### Classification - Sample Type: drill - Group ID: DPDH057:null-null - Mining Method: unknown #### Location - Loc. Confidence: medium #### QA/QC - QP Signed: Yes #### Metal Equivalent - Metal Eq. Grade: 29.05 - Metal Eq. Unit: % CuEq #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-02-11T00:00:00.000Z Reasoning: Extremely high-grade 5m interval within a larger intercept. - Positive factor: bonanza grade Evidence · text > 5.00 metres at 29.05% copper equivalent #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Metal Equivalent Opaque** Polarity: negative Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Requires an actual metal equivalent grade; a combined elemental basket such as PGE is not a metal equivalent. Why it applies: an equivalent grade is reported without its assumptions ### DPDH049 [Link to this fact](https://atlas-extractions.minestarters.com/news/western-tungsten-scramble-heats-up-as-china-locks-down-80-of-global-supply--df199128-1918-401a-8bdd-065ef77ce671#fact-drill-facts-2) Lunahuasi · copper #### Identity - Hole ID: DPDH049 - Project: Lunahuasi - Commodity: copper - Region: argentina - Reported Region: argentina - Ticker: NGEX #### Geometry - Grade: 0.86 - Grade Unit: % - Intercept: 1246.5 m #### Classification - Sample Type: drill - Group ID: DPDH049:null-null - Mining Method: unknown #### Location - Loc. Confidence: medium #### QA/QC - QP Signed: Yes #### Metal Equivalent - Metal Eq. Grade: 0.86 - Metal Eq. Unit: % CuEq #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-02-11T00:00:00.000Z Reasoning: A massive 1.2km intercept at 0.86% CuEq demonstrates significant scale. - Positive factor: exceptional intercept length - Positive factor: demonstrates broad mineralization Evidence · text > 1,246.50 metres at 0.86% copper equivalent from hole DPDH049 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Metal Equivalent Opaque** Polarity: negative Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Requires an actual metal equivalent grade; a combined elemental basket such as PGE is not a metal equivalent. Why it applies: an equivalent grade is reported without its assumptions ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.