Warren Buffett is not a big commodity investor. He seeks revenue growth. In respect to gold, for example, Buffett sarcastically stated, "Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head." Interestingly, it appears he feels quite differently about tungsten, a metal with enough practical demand to allow Mr. Buffett to see its investment worthiness. As recently as 2012, Warren Buffett's Berkshire Hathaway, through its IMC International Metalworking unit, agreed to invest $80 million in one of the world's largest tungsten mines, located in South Korea. In respect to Berkshire Hathaway's investment, Forbes contributor Eric Savitz wrote, "While the deal may come as a surprise to the outside world, those with knowledge of tungsten understand that it's a crucial but disappearing resource that continues to affect all of us."
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