The market for tungsten has become a strategic focus for manufacturers and governments alike, and Allied Critical Metals Inc. is positioning itself as a western supplier through a two-pronged development plan in northern Portugal. The company, listed as CSE: ACM, OTC: ACMIF and FSE: 0VJ0, is advancing its fully owned Borralha and Vila Verde projects toward production, combining technical studies, an active drilling program and pilot-scale processing.
At the centre of the strategy is a recent Preliminary Economic Assessment (PEA) for the Borralha Tungsten Projecteconomic valuation showing an NPV of $964 million using a long-term tungsten price scenario of US$1,500 per MTU. Complementing the PEA, Allied has mobilized a 20,000-metre drill program and is commissioning a pilot plant at Vila Verde with the stated objective of producing the first tungsten concentrate prior to year-end 2026.
Why two assets matter
Allied’s dual-asset approach leverages both Borralha and Vila Verde to balance resource scale and near-term operational testing. Borralha is highlighted as one of the larger undeveloped tungsten resources inside the European Union and benefits from a favourable Environmental Impact Declaration (DIA), which supports downstream permitting and progression toward feasibility and development work. Vila Verde, located within the same mining jurisdiction, offers complementary exploration upside and a practical location for pilot processing.
Technical milestones and sequencing
The company’s technical path combines resource expansion and metallurgical verification. The 20,000-metre drill campaign is designed to upgrade and expand known mineralization, while the Vila Verde pilot plant will validate processing flowsheets, concentrate grades and recovery figures at a scale that informs future feasibility and plant design. These parallel workstreams aim to shorten the timeline between study completion and potential commercial production.
Market context and supply security
Tungsten is classified as a critical raw material by both the United States and the European Union because of its use in defense, aerospace, automotive, electronics and energy technologies. Global supply dynamics underscore the need for diversified sources: approximately 87% of documented supply and reserves are attributed to China, Russia and North Korea, while more than 90% of production originates in jurisdictions outside what many investors consider rule-of-law countries. Allied’s projects in Portugal therefore carry strategic relevance for western supply chains seeking stable, jurisdictionally secure sources.
Valuation and reporting
The PEA published for Borralha provides a quantified economic baseline that investors and stakeholders can use to assess project potential. The technical report supporting the PEA — the company’s NI 43-101 Preliminary Economic Assessment Technical Report — is referenced as dated April 14, 2026, and is filed on SEDAR+ for transparency. These public filings contain the detailed assumptions behind capital and operating cost estimates, mine life profiles and sensitivity cases tied to tungsten pricing scenarios.
Corporate and promotional context
Allied Critical Metals describes itself as a Canadian-based miner focused on the advancement and revitalization of its two northern Portugal tungsten projects. Beyond in-house communications, the company’s story has been distributed through industry channels; for example, Market One — a Canadian marketing agency for public companies — provides content creation and media distribution services that help position clients in front of targeted audiences via video, editorial and social platforms.
From an investor perspective, the combination of a large undeveloped resource with an approved environmental declaration, active drilling to expand and upgrade resources, and a pilot plant to demonstrate processing can present a clear development narrative. The timeline toward first concentrate production at Vila Verde before year-end 2026 is an operational milestone that, if met, would transition parts of the program from study and exploration into demonstrable processing capability.
Next steps and where to find more information
Readers interested in independent technical details can consult the company’s NI 43-101 PEA technical report filed on SEDAR+ and the corporate website for drill results, metallurgical summaries and project updates. As Allied advances its work programs, key items to watch include drill results that expand the resource base, pilot plant performance data that confirm recoveries and concentrate quality, and any updates to feasibility studies and permitting milestones that enable project financing and development.
In sum, Allied Critical Metals is advancing a coordinated exploration and development program across two tungsten assets in a favourable European mining jurisdiction, aiming to respond to elevated tungsten prices and western demand for secure supply sources while progressing technical milestones that underpin future feasibility and potential production.
