Almonty secures tungsten oxide supply deal for US defense

Almonty Industries has secured a binding three-year offtake agreement with US defense contractor Tungsten Parts Wyoming (TPW) and Israeli processor Metal Tech to supply a minimum of 40 tonnes of tungsten oxide per month for exclusive use in US defense applications, including missile, drone, and ordnance systems. Metal Tech will convert the tungsten oxide into tungsten metal powder in either Israel or the US, with all processed material dedicated to TPW's defense production programs. Deliveries will commence once Almonty achieves commercial production of tungsten oxide, with pricing based on a hard floor price aligned with current market rates and subject to grade adjustments, without a cap on maximum price. The agreement includes automatic annual renewals after the initial three-year term and represents a strategic milestone for Almonty, providing predictable revenue and reinforcing its role as a key upstream supplier to the US and allied defense supply chains. CEO Lewis Black emphasized that the deal aligns Almonty's production with national security priorities, delivering value to shareholders while supporting high-value defense applications. This partnership underscores Almonty's positioning as a critical raw materials supplier integrating upstream supply with allied defense manufacturing capabilities.