Explorer Tungsten Mining (ASX:TGN) has joined the growing list of ASX miners taking up dual listings in the United States to take advantage of Donald Trump government’s ongoing desire for critical minerals.
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The company is targeting either the Nasdaq or the New York Stock Exchange (NYSE) in addition to its existing ASX listing.
Chairman, Gary Lyons, said the move is to strengthen engagement with U.S. government agencies, defence, and advanced manufacturing stakeholders, strategic industry partners, and broaden the company’s investor base.
“We believe the strategic importance of tungsten continues to increase as governments and industry focus on building resilient and secure supply chains,” Mr Lyons said.
“Our decision to pursue a U.S. listing reflects the strong alignment we see between TGN’s globally significant tungsten portfolio and US strategic priorities.
“As we progress off-take discussions and deepen engagement across the United States and Europe, we believe access to U.S. capital markets will be an important enabler of our long-term growth strategy.”
Several U.S. government agencies, defence contractors and industrial end-users have recently increased efforts to secure reliable, allied-based supply chains.
“Tungsten Mining sees increasing strategic alignment between its tungsten portfolio and U.S. policy and procurement priorities,” Mr Lyons said.
A little earlier this month, the Australian company announced it had commenced preliminary high-level discussions with potential downstream processing partners and prospective offtake partners.
It also revealed that, following on from a recent successful $53 million placement, it continues to advance pre-feasibility study workstreams for the Mt Mulgine project in WA in the lead up to a final investment decision.
Tungsten Mining has a growing portfolio of advanced Australian tungsten assets with the key projects Mt Mulgine, Watershed in north-east Queensland, and Hatches Creek in the Northern Territory.
TGN is up +8.49%, to 28.8c today.
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