Mergers & Acquisitions ·
Almonty Industries Inc. entered a binding agreement with the Government of Rwanda to form Almonty Rwanda Pty Ltd, a…
ALMAlmonty Industries Inc.
Almonty Industries Inc. entered a binding agreement with the Government of Rwanda to form Almonty Rwanda Pty Ltd, a joint venture in which the government holds a 25% equity interest and Almonty holds 75%. The government contributed the Shyorongi tungsten exploration concession, covering approximately 32 square kilometers, and a mineral processing license. Almonty Rwanda will acquire ore, pre-concentrate, and panning tailings from existing small-scale license holders for export or upgrading while planning to construct a centralized collection and processing plant. This strategic partnership aims to modernize Rwanda’s tungsten sector and strengthen Western-aligned supply chains ahead of new U.S. defense procurement rules effective January 1, 2027. Almonty Industries Inc. is a leading global producer of tungsten concentrate.