Almonty Industries Fortifies Western Tungsten Supply Chains with Key Alliances and U.S. Relocation

Almonty Industries, a leading global tungsten producer, has significantly bolstered its strategic position by joining the DARPA-funded Critical Minerals Forum and securing a key partnership with American Defense International. These moves, alongside the ongoing relocation of its corporate domicile to the U.S., underscore Almonty's commitment to strengthening Western critical mineral supply chains, particularly for tungsten.

Strategic Alliances Forged

Almonty Industries' recent strategic maneuvers highlight its growing importance in the global critical minerals landscape. The company was invited to join the Critical Minerals Forum (CMF), a DARPA-funded initiative focused on building resilient and diversified supply chains for critical minerals like tungsten. This membership positions Almonty as a key Western tungsten producer within a U.S. Department of Defense-sponsored policy think tank.

• The CMF facilitates collaboration among critical mineral miners, processors, end-users, investors, and government institutions.
• It provides AI-driven analytic models for forecasting critical mineral costs, prices, supply, and demand, which are geography-specific and customizable to real-life variables.
• Almonty's CEO, Lewis Black, emphasized the value of these forecasts for informed decision-making regarding tungsten production, pricing, and offtake agreements.
• Almonty aims to be a strong voice in discussions as a key upstream supplier of tungsten oxide to the U.S. and allied defense supply chains, offering a transparent, non-restricted, conflict-free Western source.

In a related development, Almonty secured a strategic partnership with American Defense International (ADI), a prominent government relations and business development firm. This collaboration is set to enhance Almonty's engagement in the U.S. market and reinforce its alignment with government policies and industry priorities, especially as it finalizes its redomiciling to the United States.

Bolstering U.S. Critical Mineral Security

Almonty's decision to relocate its corporate domicile from Canada to Delaware, U.S., reflects the increasing strategic importance of the United States in its operations. This move aligns Almonty's corporate structure with a significant portion of its shareholder base and aims to enhance its access to key U.S. markets. The relocation is particularly timely given rising global tensions and U.S. efforts to secure independent sources of critical raw materials.

• The U.S. Department of Defense (DoD) is implementing new rules under the FY 2021 and FY 2024 National Defense Authorization Acts, expanding restrictions on sourcing critical materials like tungsten from "covered countries" such as China, Russia, Iran, and North Korea.
• These restrictions will prohibit mining, refining, and separation of such materials in covered countries at any stage of the supply chain, emphasizing the need for domestic industrial base development.
• China's recent export restrictions on dual-use technologies, including tungsten, further underscore the urgency for Western nations to secure independent supply chains.

Almonty's Sangdong mine in South Korea is uniquely positioned to address these supply chain challenges. Historically one of the world's largest tungsten mines outside of China, Sangdong is poised to become a cornerstone for Western tungsten supply chains. With production expected to ramp up by mid-2025, 45% of Sangdong's potential long-term tungsten output is already committed to Global Tungsten & Powders in Pennsylvania through a long-term supply agreement.

Operational Advancements at Sangdong

Significant progress has been made at the Sangdong mine, with the installation of cutting-edge grinding equipment from Metso Corporation. This includes semi-autogenous grinding (SAG) and ball mills, crucial for efficient and precise processing of tungsten ore. This advancement brings the Sangdong project closer to full operations, marking a pivotal moment in diversifying global tungsten sources away from Chinese dominance.

• Metso is managing every stage of the ball mill installation, ensuring precise alignment and optimal performance.
• The project adheres to rigorous safety protocols and international mining standards.
• The Sangdong mine is set to provide a stable, independent supply of tungsten for industries ranging from defense to advanced manufacturing.

These developments collectively position Almonty Industries as a critical player in securing a stable and reliable supply of tungsten for the U.S. and its allies, contributing significantly to national security and technological independence.

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 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.