Episode 105: William Parry-Jones, Founder of Wolfram Advisory

(00:00:00) Introduction
(00:00:23) Launching Wolfram Advisory
(00:01:17) Current Market Conditions & Supply Challenges
(00:01:53) Understanding the Global Tungsten Market
(00:02:55) China's Export Controls & Import Surge
(00:03:33) Three Theories on Supply Reduction
(00:04:31) End-of-Life Mines in China
(00:05:00) Cost Curves & Byproduct Production
(00:06:41) Future Mining Projects & Solutions
(00:07:36) William's Engineering Background
(00:08:06) Career Journey: London to Vietnam
(00:09:41) Cliff's "University of Hard Knocks"
(00:10:20) Family Life & Work-Life Balance
(00:11:37) Industry Talent Retention Challenges
(00:12:06) Building Strong Teams in Tungsten

In this episode of Cliff's Notes, Cliff Nance sits down with William Parry-Jones, founder of Wolfram Advisory, to discuss the rapidly evolving tungsten market and critical supply challenges facing the industry.

William shares insights from his impressive career journey—from studying materials science and aerospace engineering at Imperial College London to spending 10 years in physical metals trading in the City of London, followed by six and a half years with Masan Resources in Vietnam as part of the largest non-Chinese tungsten producer. Now, as an independent consultant, William is helping companies navigate market entry, market segmentation, and the complex dynamics of the global tungsten supply chain.

Key topics covered:• The current tungsten market boom and supply squeeze• China's dominant role (80-83%) in global tungsten production• The 30% drop in Chinese tungsten exports following February 2024 export controls• China's simultaneous 30-40% increase in tungsten imports• End-of-life mine challenges and declining primary production in China• The shift from byproduct tungsten to higher-cost mining operations• Rising production costs due to improved environmental and safety standards• Future mining projects in Zimbabwe, Kazakhstan, and Central Asia• The opaque nature of the tungsten market and data reliability challenges• The impact of critical raw materials demand on industry talent retention

William also opens up about his personal life, including his recent marriage, his 20-month-old daughter Florence, and the transition to running his own advisory business.

This episode provides essential market intelligence for anyone involved in tungsten recycling, critical materials sourcing, or strategic metals procurement.

Theme song written and performed by Adam Howell.

Hosted by Cliff Nance of Tungco — where hard work meets honest talk about leadership, innovation, and what it takes to build something that lasts.