Almonty Makes U.S. a Domestic Tungsten Producer Again
Almonty Industries has secured a transformative acquisition, making it America's first domestic tungsten producer in over a decade. The company has acquired exclusive development rights to the Gentung Browns Lake tungsten deposit in Montana for $9.75 million.
The transaction includes $750,000 in cash and $9 million in Almonty shares, with the equity component subject to regulatory restrictions and a mandatory one-year lock-up period. Almonty also acquired a Montana-based company holding crucial processing infrastructure, including plant permits, water rights, and specialized tungsten processing equipment for an additional $250,000.
The company plans to integrate proprietary tungsten processing methodologies developed across its South Korean and Portuguese operations to improve recovery rates and operational efficiency. Processing infrastructure acquired through the complementary transaction includes specialized equipment designed for tungsten concentration and purification, reducing capital requirements and accelerating commercial production timelines. Almonty targets an ambitious timeline to commence production by the second half of 2026 due to pre-existing geological databases, established infrastructure, and an available skilled workforce in the regional mining corridor.
The Montana operation contributes to supply chain diversification by adding substantial North American capacity to global tungsten markets, potentially stabilizing pricing volatility associated with international supply disruptions. The Gentung Browns Lake project addresses a fundamental vulnerability in American supply chains, as the United States currently imports virtually 100% of its tungsten requirements.
Almonty Industries plans to resume mining operations at the Montana tungsten project as early as the end of 2026, provided that all necessary permits are obtained. The project supports U.S. government initiatives to establish domestic critical minerals sources and is expected to commence production by the second half of 2026.
