Golden Metal Resources awarded $6.2 million to advance Nevada-based project.
The U.S. Department of Defense has awarded $6.2 million to Golden Metal Resources, a subsidiary of Guardian Metals, a U.K.-based company, to advance its Pilot Mountain tungsten project in Nevada. The funding, issued under the Defense Production Act (DPA), is the third Defense Department investment in the domestic tungsten supply chain since 2024.
Located southeast of Hawthorne, Nevada, Pilot Mountain is believed to be the largest undeveloped tungsten deposit in the United States. Golden Metal Resources will use the funding to conduct geological testing and deliver a pre-feasibility study for the project.
Tungsten is considered a strategic metal due to its exceptional hardness, high density, and the highest melting point of any element at 3422 °C. These properties make it indispensable for military and industrial applications. Notably, it is required for both the production of advanced armor and armor-piercing ammunition, underscoring its importance to the defense sector.
Despite its importance, the U.S. remains heavily reliant on tungsten imports, with no active domestic mines having been operational since 2015. Currently, China dominates the global tungsten market, producing over 80% of the world’s supply. In February, Beijing added tungsten to its list of export-controlled items, making shipments abroad subject to license requirements.
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