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2 clusters · 5 sources · 4 days · First seen · Last updated
Pinnacle Minerals tungsten and antimony expansion
Overview
Pinnacle Minerals Limited has initiated a series of acquisitions to expand its presence in the US critical minerals sector. The company entered a binding agreement to acquire 100% of APT Tungsten Limited, which provides rights to five tungsten projects in Utah covering approximately 4,000 acres. This move is positioned to align with upcoming US defense regulations scheduled for January 1, 2027, which restrict tungsten sourced from China, Russia, North Korea, or Iran.
Following these developments, the company updated the status of a non-binding Memorandum of Understanding between APT Tungsten and Nexus Metals LLC. This follows the acquisition of Nexus Metals Pty Ltd by American Tungsten and Antimony Ltd, which subsequently finalized the acquisition of the Del Sol Facility in Nevada. The Del Sol Facility is a permitted antimony refinery. While it currently lacks a tungsten processing circuit, studies are being conducted to potentially add ammonium paratungstate production capabilities to support future tungsten material from the Utah projects.
Entities
Pinnacle Minerals Limited · APT Tungsten Limited · William Witham · Utah · Nexus Metals
Timeline
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[BUSINESS] 2 sourcesPinnacle Minerals updates MOU status following Nexus and Del Sol acquisitions
Pinnacle Minerals reports progress on a non-binding MOU following the acquisition of the Del Sol Facility in Nevada by Nexus Metals, potentially aiding future tungsten processing in Utah.
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[BUSINESS] 3 sourcesPinnacle Minerals acquires five tungsten projects in Utah
Pinnacle Minerals is acquiring APT Tungsten Limited to gain control of five tungsten projects in Utah, targeting the US critical minerals market for defense and industrial sectors.
Sources
abnnewswire.net · finnewsnetwork.com.au · investingnews.com · sharecafe.com.au · stockhead.com.au