Almonty wins US Defence tungsten contract

Tungsten concentrate producer Almonty Industries has announced an offtake agreement with  Tungsten Parts Wyoming and Israeli firm Metal Tech for defence applications.

The agreement will see TPW purchase 40 tonnes of tungsten oxide a month, to be converted to tungsten metal power by MT before being used in defence applications such as missile, drone and ordnance systems.

“It positions Almonty as a strategic supplier of critical raw materials for national security and underscores the integration of an upstream supply with allied defence manufacturing capabilities,” the company said in a statement.

The initial agreement will run for three years, with automatic annual renewals thereafter.

“The agreement ensures that our tungsten oxide will serve a strategic, high value end use – reinforcing Almonty’s position as the key upstream supplier to the defence supply chain of the US and its allies,” Almonty CEO Lewis Black said.

Picture: credit Alchemist-hp