The dual exposure to gold and tungsten has strengthened investor security amid market volatility caused by the ongoing conflict in the Middle East, says Australia-based mine development and exploration company Rumble Resources MD Peter Harold.

Harold says that military hostility in the Middle East has contributed to increased volatility across global markets, prompting investors and governments to reassess both safe-haven assets and the security of critical supply chains.

“The conflict has thrown a renewed spotlight on commodities such as gold and tungsten, and in turn, multi-commodity projects such as Western Queen where the opportunity for diversification is evident,” Harold says.

He notes that while gold prices have taken a slight hit in recent weeks owing to geopolitical turmoil, the precious metal remains a safe haven for investors.

Rumble Resources has seen spot prices make a rally in recent weeks, correcting back to the original trajectory of gold’s value prior to the US entering the conflict in the Middle East.

“Even with the downturn at the start of March, gold prices remain at record high levels, up by nearly A$1 800/oz compared to this time last year, reflecting an eagerness by investors to obtain this safe-haven asset.

“At the same time, increasing demand for stronger military capabilities and greater investment in the defence industry has led to governments seeking out secure supplies of tungsten, which is traditionally used in armour systems and aerospace components,” Harold says.

He also stresses that multicommodity projects such as Western Queen have been rising in prominence as an attractive opportunity for investors, governments, and the broader industry.

Harold adds that Australia’s position as a stable and reliable mining jurisdiction further strengthens the appeal of multicommodity projects to new and established global trade partners, with a greater emphasis on resilience and security of access.

The EU Trade Deal, for example, places emphasis on strengthening resource supply chains between the EU and Australia by removing tariffs on Australia’s critical mineral exports, including tungsten.

“Partnerships like these will strengthen the prospectivity of diverse assets like Western Queen that offer multicommodity exposure while reducing reliance on any single market.

“As the geopolitical landscape continues to evolve, having a diversified resource base is increasingly becoming a strategic advantage, and at Rumble, we plan to leverage this to strengthen our position in the global market,” Harold concludes.