US Mining Firm 3PL Discovers Largest Tungsten Deposit in Nevada, Valued at $152 Billion
US mining company 3 Proton Lithium (3PL) announced the discovery of the nation's largest tungsten deposit at its Railroad Valley Minerals Project in eastern Nevada, with an estimated 1.78 million tonnes of resources. The deposit, potentially five times larger than the US's second-largest, could be worth $152 billion at current prices. NASA has hindered development due to a mining ban on about one-third of the mineral rights, imposed in 2023. The company has raised nearly $50 million and seeks to overturn the ban. Tungsten prices have surged nearly 600% since February 2025.
US mining company 3 Proton Lithium (3PL) said it has confirmed the country's largest tungsten deposit at its Railroad Valley Minerals Project in a remote area of the Great Basin Desert in eastern Nevada. According to the company's resource assessment report, the deposit contains approximately 1.78 million tonnes of resources. If it is proven to be commercially viable in the future, it would be more than five times the size of the current second-largest tungsten deposit in the US. At current prices, the deposit is valued at approximately $152 billion.
NASA has raised obstacles to the development of the mining area. NASA said that approximately one-third of 3PL's mineral rights fall within a special-use area designated for receiving and tracking satellite signals, and that mining there would threaten the operations of related space missions. The area has long been used by NASA for calibration and testing of satellite instruments to ensure accurate and standardized satellite data. In 2023, at NASA's request, the US Bureau of Land Management imposed a mining and exploration ban.
3PL Chairman and Chief Financial Officer Kevin Moore said the discovery is not just a mining project but a national security issue. He noted that the US ceased tungsten mining a decade ago and now relies on imports. To advance the project, 3PL has raised nearly $50 million and is seeking to overturn the 2023 ban. Moore said the 2023 decision was made with incomplete information due to a lack of adequate communication between NASA and the company. The company is now working through formal channels to resolve the issue.
Since February 2025, global tungsten prices have risen by nearly 600% due to strong demand in sectors such as aerospace and defence. In 2025, 3PL's Railroad Valley project was included in the US federal FAST-41 expedited approval programme to accelerate the project permitting process. The report also shows that 3PL holds leases and mining rights in an area of approximately 58 square miles near the city of Ely in eastern Nevada, and has proven lithium, boron and potassium salt resources in a large underground salt formation.
In November 2025, US mining investment firm Cove Capital reached an agreement with the government of Kazakhstan to develop a tungsten mine and processing plant there.