Almonty Industries Fortifies Global Position with Key U.S. Strategic Initiatives

Almonty Industries, a global leader in tungsten concentrate production, is strategically repositioning itself within the critical minerals sector. Recent key developments include joining a DARPA-funded forum, forging a partnership with American Defense International, and announcing plans to relocate its corporate domicile to the United States. These moves aim to bolster Almonty's role as a reliable Western supplier of critical minerals amidst evolving global geopolitical landscapes.

Almonty Joins DARPA-Funded Critical Minerals Forum

Almonty Industries has become a member of the Critical Minerals Forum (CMF), a not-for-profit trade association funded by the U.S. Defense Advanced Research Projects Agency (DARPA). This invitation-only forum focuses on building resilient and diversified supply chains for critical minerals like tungsten.

• Strategic Importance: Almonty's inclusion as a primary Western tungsten producer underscores its significance in U.S. defense supply chains.
• Collaboration and Data: The CMF facilitates collaboration among miners, processors, end-users, investors, and government institutions. It also provides AI-driven analytic models for forecasting critical mineral costs, prices, supply, and demand, aiding informed decision-making.
• CEO's Vision: Lewis Black, Almonty's CEO, emphasized the privilege of leveraging CMF's data for tungsten production, pricing, and offtake agreements, and contributing to discussions as a key upstream supplier to the U.S. and its allies.

Strategic Partnership with American Defense International

Almonty has entered into a strategic partnership agreement with American Defense International, Inc. (ADI), a prominent government relations and business development firm based in Washington, D.C. This collaboration is designed to strengthen Almonty's position within the critical metals sector, particularly in supporting the U.S. federal government and the American defense and technology industries.

• Enhanced Engagement: The partnership, alongside Almonty's planned U.S. relocation, will improve engagement in the U.S. market by aligning with government policies and industry priorities.
• ADI's Expertise: ADI, with its team of former senior government officials and military officers, has a strong track record in securing government relationships and facilitating global expansion for over 100 organizations, including SpaceX.
• Secure Supply Chains: This alliance aims to further position Almonty in meeting the growing demand for secure and sustainable tungsten and molybdenum supply chains for U.S. defense and technology sectors.

Relocation to the United States

Almonty Industries announced its intention to change its jurisdiction of incorporation from Canada to the State of Delaware, U.S.A. This move, referred to as a "US domestication," reflects the increasing importance of the United States in Almonty's strategic positioning.

• Alignment with U.S. Policies: The relocation aligns Almonty's corporate structure with the U.S.'s robust regulatory framework for critical materials and its efforts to encourage domestic sourcing.
• Addressing Geopolitical Tensions: The decision is driven by rising global tensions, including U.S. Department of Defense restrictions on critical materials from certain countries (China, Russia, Iran, North Korea) and China's export restrictions on dual-use technologies like tungsten.
• Sangdong Mine's Role: Almonty's Sangdong Mine in South Korea is poised to become a cornerstone for a transparent and reliable Western source of tungsten and molybdenum, with 45% of its potential long-term output already committed to Global Tungsten & Powders in Pennsylvania.
• Expected Completion: The U.S. domestication is expected to be completed during the first quarter of 2025, subject to court, shareholder, and regulatory approvals.

Sources

• Almonty Industries Joins DARPA Funded Critical Minerals Forum, Junior Mining Network.
• Almonty Industries Secures Strategic Partnership Agreement with American Defense International, Junior Mining Network.
• Almonty Industries News and Stock Quote (TSX: AII), Junior Mining Network.
• [Almonty Industries Advances Sangdong Mine with Installation of Metso Equipment for Tungsten Processing Plant
• Junior Mining Network](https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2045-tsx/aii/170935-almonty-advances-sangdong-mine-with-installation-of-metso-equipment-for-tungsten-processing-plant.html), Junior Mining Network.
• Almonty Industries Announces Intention to Relocate to the United States, Junior Mining Network.