10:22 AM EST, 02/03/2025 (MT Newswires) -- American Tungsten ( DEMRF ) was at last look up 2.5% after saying Monday that it is positioned to play an important role in securing a reliable domestic supply of tungsten in the wake of a trade war between the U.S. and Canada.

The company has an option to acquire the IMA mine project, a past-producing underground tungsten mine in Idaho.

"America cannot afford to rely on foreign sources of critical minerals like tungsten," said Murray Nye, CEO of American Tungsten ( DEMRF ).

The company noted that tungsten is classified as a critical mineral by the U.S. government due to its high-strength applications such as defense, aerospace and high-performance manufacturing.

"With the new tariffs making imported tungsten less economical, our strategic decision to invest in domestic production will directly contribute to lowering the country's dependency on imports and ensuring that U.S. industries have the resources they need to thrive," Nye said.

The company's share price had dropped 3.3% earlier to $1.16 on the CSE.

Price: 1.23, Change: +0.03, Percent Change: +2.50