In a decisive move aimed at strengthening the United States' supply of critical minerals, Allied Critical Metals has appointed two high-profile figures—former U.S. Secretary of Homeland Security Kirstjen M. Nielsen and retired Maj. Gen. James A. "Spider" Marks—to the board of its newly established U.S. subsidiary, Allied Critical Metals (USA) Inc. This announcement, made on August 21, 2025, signals the company’s intent to expand its influence in the American market and address mounting concerns over the nation’s reliance on foreign sources for essential materials like tungsten.
Nielsen, who served as the sixth Secretary of the Department of Homeland Security from 2017 to 2019, will provide strategic guidance as Allied USA ramps up efforts to import, market, and distribute tungsten from its wholly owned Borralha and Vila Verde projects in northern Portugal. According to Allied’s statement, her appointment coincides with growing collaboration between the company and U.S. government agencies to secure domestic access to materials deemed vital for national security.
“I am honored to join Allied Critical Metals at such a pivotal time,” Nielsen said in the company’s official release. “Securing the domestic supply of critical materials like tungsten is essential to national security, economic resilience, and global competitiveness. I look forward to supporting Allied USA’s efforts to strengthen the U.S. supply chain and advance its mission.”
Maj. Gen. Marks brings over four decades of leadership experience in the military, intelligence, and commercial sectors, having previously led elite Army units and held executive roles in private industry. His expertise is expected to bolster Allied’s expansion as the company positions itself as a key supplier of tungsten to U.S. defense, aerospace, electronics, energy, and advanced manufacturing sectors.
Allied CEO Roy Bonnell emphasized the importance of these appointments, stating, “Secretary Nielsen brings deep expertise in homeland security, public policy, and critical infrastructure. Her insights into federal operations, supply chain resilience, and defense readiness will be invaluable as we position ACM as a trusted partner in strengthening America’s access to strategic minerals like tungsten.” Bonnell added, “General Marks is a highly respected leader with unparalleled expertise in global defense, logistics, and strategy. His appointment strengthens our U.S. operations at a pivotal time, as we expand our presence in the American tungsten market.”
The company’s focus on tungsten is no accident. As Bonnell explained in an interview with Streetwise Reports, “There’s no armament without tungsten, no ballistics, and no missiles.” Tungsten’s unique properties make it essential for military applications, including heavy metal alloys for armaments and alternatives to lead in ammunition. It’s also used in heat sinks, superalloys for turbine blades, tool steels, and wear-resistant parts. Yet, about 85% of the world’s tungsten supply comes from China—a situation Bonnell described as a “real vulnerability” for the U.S.
Allied’s timing couldn’t be more critical. According to ARANCA, as of June 4, China produces 81% of global tungsten and has restricted exports to the U.S. Mining.com reported on July 25 that there are currently no commercially active tungsten mines in the U.S., further highlighting the country’s strategic risk. Allied’s new Nashville-based subsidiary, led by a team with deep market knowledge, aims to fill this gap by importing high-quality tungsten products for American industries.
The company’s expansion strategy also includes its recent listing on the OTCQB Venture Market under the ticker ACMIF, which began trading on July 28, 2025. The OTCQB listing and the company’s eligibility for electronic clearing and settlement through The Depository Trust Co. (DTC) are expected to increase accessibility for U.S. investors and boost liquidity by streamlining settlement times and reducing trading costs. “We expect U.S. investors will be a big part of the company’s success as we move forward,” Bonnell noted.
Allied Critical Metals’ projects in northern Portugal—the Borralha and Vila Verde tungsten-tin projects—are located in a region known for its mining-friendly policies. Both projects are currently in the exploration phase, and the company recently named Vítor Arezes as vice president of exploration. Arezes brings 14 years of experience in geological exploration and mining operations, with a strong focus on tungsten and other critical minerals.
The global tungsten market is facing a period of structural tightness, according to Lara Smith, CEO of Core Consultants. In a May 19 article, Smith observed, “The tungsten market is poised for structural tightness through 2030, with prices likely stabilizing at elevated levels.” She cited ongoing military restocking, rising industrial demand, limited new supply, and China’s resource depletion as key factors. As of July 25, the European price for ammonium paratungstate (APT)—the standard tungsten product—had surged 43.2% year-to-date, reaching US$460–485 per ton, according to Chinatungsten.
Grand View Research projects the global tungsten market will grow from US$1.85 billion in 2024 to US$2.84 billion by 2033, at a compound annual growth rate (CAGR) of 4.7%. The U.S. market is expected to grow at a 3.9% CAGR over the same period. However, the industry faces challenges such as the depletion of high-grade reserves, permitting delays, processing bottlenecks, environmental restrictions, and a 12% year-over-year production decrease in China during the second quarter of 2025.
“This combination of supply-side constraints has created an increasingly tight market where even moderate demand can trigger significant price movements,” analyst John Zadeh wrote in a July 17 article for Discovery Alert. “The reluctance of suppliers to release material into the spot market has exacerbated the price discovery process, leading to sharper daily fluctuations.”
Industrial, mining, and construction sectors continue to drive demand for tungsten, particularly due to its use in tungsten carbide for drilling equipment and wear-resistant machinery. Military applications remain a major factor, with tungsten being indispensable for armor-piercing munitions, tank armor, and rocket components. Other industries, including transportation, chemicals, pharmaceuticals, energy, and consumer durables, also rely on tungsten’s unique properties.
On the investment front, Allied Critical Metals has 110.11 million common shares issued and outstanding, with insiders holding approximately 15% and institutions 25%. The company’s market capitalization stands at CA$38.71 million, and its shares have traded in the CA$0.20–0.40 range over the past year. Analyst John Newell described the stock as a “Speculative Buy,” highlighting its constructive uptrend and potential for further gains if support levels hold.
While recent market trends have seen a drop in short interest for Critical Metals Corp. following a rally, the broader context is one of rapid change and opportunity. The company’s efforts to collect feedback and analyze market sentiment, as well as its ongoing expansion in North America, suggest a dynamic period ahead for both the company and the critical minerals sector as a whole.
With strategic appointments, a sharpened focus on supply chain resilience, and a clear-eyed approach to the challenges of the global tungsten market, Allied Critical Metals is positioning itself as a key player in the evolving landscape of U.S. critical mineral security.