Pure Tungsten Stock: Share Price, IPO Plans and How to Invest

Is Pure Tungsten stock publicly traded?

No. Pure Tungsten Inc. is a private company, and its shares are not listed on any stock exchange. There is no Pure Tungsten ticker symbol or public share price yet. The company is raising capital through a pre-IPO private placement and is targeting a public listing in London or New York in the second half of 2027.

If you have seen tungsten stock quotes for American Tungsten, Almonty Industries or Tungsten West, those are different, already-listed companies. Our list of tungsten stocks covers them.

Searching for pure tungsten metal rather than the company? Pure (unalloyed) tungsten is sold as powder, rod, wire and plate by industrial metal suppliers. This page is about Pure Tungsten Inc., the mining company.

Pure Tungsten share price: the pre-IPO terms

The only current price for Pure Tungsten shares is the pre-IPO placement price:

The closing date for the current round is shown on the Pure Tungsten investment overview. Placement terms can change between rounds, so always check the latest offering documents.

Pure Tungsten IPO plans

Pure Tungsten is in discussions for either an initial public offering (IPO) or a reverse takeover (RTO). In an RTO, a private company merges into an already-listed shell company. Both routes would end with Pure Tungsten shares trading on a public exchange. We compare the two in IPO vs RTO for mining companies.

The listing is targeted for H2 2027. That timing follows two planned milestones:

1. First production at Ssangjon in South Korea, targeted for Q4 2026.
2. A JORC-compliant mineral resource report for Maykhura in Tajikistan, expected in Q1 2027.

A company that is already producing and selling tungsten concentrate is valued differently from an explorer. The aim of listing after production is to be valued as a producer rather than as an explorer.

What Pure Tungsten owns

Ssangjon tungsten mine, South Korea

Ssangjon is a tungsten mine with a fully built mill. Because the processing plant already exists, the company does not need to finance and build one before producing. Production is targeted for Q4 2026, at a near-term rate of 1,000 tonnes of tungsten per year. The project has support from the South Korean Government's Critical Minerals Initiative. South Korea is a stable, advanced economy, and it is not one of the countries covered by the 2027 US defence sourcing rule.

Maykhura tungsten project, Tajikistan

Maykhura is a past-producing mine that last operated in the 1970s, when it supplied up to a third of the Soviet Union's tungsten. It hosts about 2 million tonnes at 0.93% WO₃, one of the highest grades of any tungsten deposit globally. A further ~900,000 tonnes of tailings at about 0.4% WO₃ are already sitting at surface. Pure Tungsten is developing Maykhura in a joint venture with TALCO, Tajikistan's largest company.

Combined production target

Pure Tungsten targets 4,000 tonnes per year by 2028 across both projects. The USGS estimates world mine production at about 85,000 tonnes in 2025, so 4,000 tonnes would be around 4–5% of global supply.

Why Pure Tungsten is focused on non-Chinese supply

China produced about 79% of the world's mined tungsten in 2025 and restricts exports through licences and a 15-company state-trading list. Western buyers in defence, aerospace, semiconductors and machine tools are trying to reduce that dependence. From 1 January 2027, US defence contracts must exclude tungsten mined in China, Russia, North Korea or Iran.

Pure Tungsten's strategy is to supply strategic tungsten from South Korea and Tajikistan to those buyers. Outside China, tungsten trades at roughly three times the Chinese domestic price. Our tungsten price guide shows the current numbers.

How to invest in Pure Tungsten

1. Read the overview on the Pure Tungsten homepage, including the projects, timeline and terms.
2. Request the investor pack using the investor pack form to receive the offering documents.
3. Check your eligibility. Private placements are often restricted to sophisticated, high-net-worth or accredited investors, depending on your country.
4. Take independent advice. Pre-IPO investments are high risk.

Risks to understand

• Liquidity. Pre-IPO shares cannot be sold on an exchange until a listing happens. The listing may be delayed or may not happen at all.
• Execution. Production start dates, ramp-up rates and resource estimates are targets and may change.
• Commodity prices. Tungsten prices are volatile. Chinese APT fell roughly 69% from its March 2026 peak by mid-October.
• Jurisdiction and partner risk at Maykhura in Tajikistan.
• Dilution. Future funding rounds may issue more shares.

For the wider context, including listed alternatives and ETFs, read how to invest in tungsten.