The Global Tungsten and Molybdenum Smelting Market was valued at USD 3.12 Billion in 2025 and is projected to reach USD 5.47 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 7.3% during the forecast period (2025–2032). This robust growth is fueled by surging demand from the aerospace, defense, and electronics sectors, alongside the accelerating adoption of advanced materials in renewable energy and electric vehicle technologies.

As global industries increasingly rely on high-performance alloys and specialized components, the companies that produce and refine these critical metals are more vital than ever. In this blog, we profile the Top 10 Companies in the Tungsten and Molybdenum Smelting Industry—a select group of mining giants and specialized processors shaping the backbone of modern manufacturing.

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🔟 1. CMOC Group Limited

Headquarters: Luoyang, Henan, China
Key Offering: Molybdenum concentrates, Tungsten intermediates, Ferromolybdenum

CMOC Group is a global leader in the mining and smelting of molybdenum and tungsten, with extensive integrated operations spanning mining, processing, and trading. The company is one of the world’s top molybdenum producers and a significant tungsten supplier, serving demanding industries worldwide with high-purity products.

Strategic Initiatives:

• Vertical integration from mine to metal for cost leadership

• Expansion of tungsten chemical processing capabilities

• Investment in sustainable mining and water recycling technologies

Download FREE Sample Report: Global Tungsten And Molybdenum Smelting Market – View in Detailed Research Report

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9️⃣ 2. Molymet

Headquarters: Santiago, Chile
Key Offering: Molybdenum trioxide, Ferromolybdenum, High-purity molybdenum powders

Molymet is the world’s leading molybdenum processor and one of the largest molybdenum smelting companies outside of China. The company specializes in transforming molybdenum concentrates into a wide range of value-added products for the steel, chemical, and metallurgical industries.

Strategic Initiatives:

• Global leadership in molybdenum roasting and conversion technologies

• Development of high-value molybdenum chemicals for catalysts

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8️⃣ 3. Freeport-McMoRan Inc.

Headquarters: Phoenix, Arizona, USA
Key Offering: Molybdenum concentrates, Copper-byproduct molybdenum

Freeport-McMoRan is a premier international mining company with significant molybdenum production as a byproduct of its massive copper mining operations. The company’s Climax and Henderson mines are among the world’s primary molybdenum producers, supplying high-grade material to global markets.

Strategic Initiatives:

• Optimization of molybdenum recovery from copper operations

• Strategic focus on North American supply chain security

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7️⃣ 4. China Tungsten and Hightech Materials Co., Ltd.

Headquarters: Ganzhou, Jiangxi, China
Key Offering: Ammonium paratungstate (APT), Tungsten powders, Tungsten carbide powders

As a subsidiary of China Minmetals Corporation, this company is a major player in China’s tungsten industry, specializing in the smelting and deep processing of tungsten concentrates. It produces a comprehensive range of tungsten intermediate and advanced materials for global markets.

Strategic Initiatives:

• Advanced hydrometallurgical processing for high-purity tungsten products

• Expansion of tungsten carbide and hard metal production capacities

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6️⃣ 5. Xiamen Tungsten Co., Ltd.

Headquarters: Xiamen, Fujian, China
Key Offering: Tungsten concentrates, APT, Tungsten powders, Tungsten electrodes

Xiamen Tungsten is one of China’s largest tungsten producers with integrated operations covering the entire value chain from mining to finished tungsten products. The company is renowned for its technical expertise in tungsten powder metallurgy and advanced material applications.

Strategic Initiatives:

• Pioneering research in nanostructured tungsten powders

• Strategic partnerships with global automotive and electronics manufacturers

Download FREE Sample Report: Global Tungsten And Molybdenum Smelting Market – View in Detailed Research Report

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5️⃣ 6. Rio Tinto

Headquarters: London, United Kingdom / Melbourne, Australia
Key Offering: Molybdenum concentrates, High-purity molybdenum products

Rio Tinto’s molybdenum business operates within its larger Kennecott copper mining complex in Utah, USA. The company produces high-quality molybdenum concentrates that are essential for steel strengthening applications globally, with a focus on sustainable and responsible production.

Strategic Initiatives:

• Implementation of low-carbon smelting technologies

• Supply chain transparency and traceability systems

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4️⃣ 7. Codelco

Headquarters: Santiago, Chile
Key Offering: Molybdenum concentrates, Molybdenum oxide

As the world’s largest copper producer, Codelco is also a significant supplier of molybdenum obtained as a byproduct from its massive copper mining operations. The Chilean state-owned company plays a crucial role in the global molybdenum supply chain.

Strategic Initiatives:

• Optimization of byproduct recovery rates from copper processing

• Investment in environmental compliance and community engagement

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3️⃣ 8. Jiangxi Tungsten Holding Group Co., Ltd.

Headquarters: Nanchang, Jiangxi, China
Key Offering: Tungsten concentrates, Tungsten intermediate products, Tungsten chemicals

This state-owned enterprise is one of China’s largest tungsten producers, controlling significant mining resources and advanced smelting facilities. The group plays a strategic role in China’s dominance of the global tungsten supply chain.

Strategic Initiatives:

• Consolidation of tungsten mining resources in Jiangxi province

• Development of specialty tungsten products for high-tech applications

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2️⃣ 9. Jinduicheng Molybdenum Co., Ltd.

Headquarters: Weinan, Shaanxi, China
Key Offering: Molybdenum concentrates, Molybdenum iron, Molybdenum oxide

Jinduicheng Molybdenum is one of China’s leading molybdenum producers with large-scale mining and smelting operations. The company specializes in producing high-quality molybdenum products for both domestic and international steel and chemical industries.

Strategic Initiatives:

• Expansion of molybdenum deep-processing capabilities

• Energy efficiency improvements in roasting and smelting operations

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1️⃣ 10. Almonty Industries Inc.

Headquarters: Toronto, Canada
Key Offering: Tungsten concentrates, APT production

Almonty Industries is focused on tungsten mining and development projects outside of China, with operations in South Korea, Spain, and Portugal. The company is positioned as a strategic Western supplier of tungsten to reduce dependence on Chinese sources.

Strategic Initiatives:

• Development of the Sangdong tungsten mine in South Korea

• Strategic positioning as an alternative tungsten supplier for Western markets

Get Full Report Here: Global Tungsten And Molybdenum Smelting Market – View in Detailed Research Report

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🌍 Outlook: The Future of Tungsten and Molybdenum Smelting Is High-Tech and Sustainable

The tungsten and molybdenum smelting market is undergoing a significant transformation. While traditional applications in steel and manufacturing continue to drive demand, the industry is investing heavily in advanced processing technologies, sustainability initiatives, and high-purity materials for next-generation applications.

📈 Key Trends Shaping the Market:

• R&D in energy-efficient hydrometallurgical processing methods

• Growing emphasis on circular economy and metal recycling

• Increasing demand for high-purity metals in semiconductor and aerospace sectors

• Geographic diversification of supply chains away from concentrated sources

Get Full Report Here: Global Tungsten And Molybdenum Smelting Market – View in Detailed Research Report

The companies listed above are not only supplying critical industrial materials—they’re enabling the technological advancement of multiple global industries.