07 May – announced the execution of a binding Offtake Agreement with Tungsten Parts Wyoming, Inc., a U.S.-based defense contractor, and Metal Tech, a tungsten processor based in Israel. Under the agreement, TPW has committed to purchase a minimum of 40 metric tons of tungsten oxide per month from Almonty. All material supplied under the agreement is to be exclusively used in U.S. defense applications, including use in missile, drone, and ordnance systems. MT, acting as the designated processor, will convert the tungsten oxide into tungsten metal powder in Israel or the United States, with all processed material intended solely for TPW’s U.S. defense production programs.
Deliveries will commence upon Almonty’s initial production of tungsten oxide in commercial quantities.
10 June – announced the receipt of a formal letter [availab from the Chairman and Ranking Member of the U.S. House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party. The letter underscores Almonty’s strategic importance to the United States as it seeks to secure critical mineral supply chains amid rising geopolitical tensions. Specifically, the Committee acknowledged:
• The significance of Almonty’s Sangdong Mine in South Korea, which is expected to become the largest tungsten producer outside of China.
• The Company’s planned redomiciling to the United States, positioning Almonty to become the only U.S.-based company producing tungsten concentrates at commercial scale.
