Part 4/7:
Despite the bullish projections, Black acknowledged the competitive challenges posed by China's anticipated move to amend an environmental regulation, allowing Chinese companies to procure tungsten scrap. This development could intensify competition for tungsten resources, hampering the supply chain for industries reliant on foreign tungsten, especially in the West.
The Call for Governmental Support
To counter these market pressures, Black emphasized the need for sensible governmental strategies that would facilitate the development of domestic resources. He noted that while working within a democratic framework can present challenges due to regulatory hurdles, it also offers stability and a respect for environmental concerns unprecedented in less-regulated jurisdictions.