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Almonty Industries Inc. signed a multi-year, take-or-pay tungsten concentrate supply agreement with Wolfram Bergbau…
ALMAlmonty Industries Inc.
Almonty Industries Inc. signed a multi-year, take-or-pay tungsten concentrate supply agreement with Wolfram Bergbau und Hütten AG (WBH), a subsidiary of the Sandvik Group. The deal covers the retreatment of existing tailings at the Los Santos Mine in Spain to produce approximately 1,720 tonnes of contained WO₃. Almonty received a conditional one-time upfront payment of US$3.0 million for offtake rights and will share financial requirements to reactivate the processing plant. WBH gains a non-Chinese EU-origin feed source for its smelter in Austria. The agreement supports the restart of the Los Santos Mine, which has been in care and maintenance since February 2020, providing an expedited supply solution ahead of new US defense procurement restrictions effective January 1, 2027. Almonty Industries Inc. is a leading global producer of tungsten concentrate for defense and advanced technology sectors.