Almonty Industries to Acquire Tungsten Project in Montana

Almonty Industries Expands Tungsten Portfolio with Montana Acquisition

=”noopener”>Almonty Industries has announced the acquisition of a tungsten project in Montana, marking a major milestone for the US mining sector. The Toronto-based miner plans to restart tungsten production by late next year. This site could become the first active tungsten mine in the United States in over ten years. The move supports efforts to reduce US dependence on Chinese tungsten supplies, a key issue in defense and semiconductor manufacturing.

The Montana project, once operated by Union Carbide, will be purchased using a mix of stock and cash, according to Bloomberg. Almonty Industries will use refurbished equipment from its Spanish facilities to fast-track operational readiness after securing permits. With water rights and infrastructure already in place, the company expects a smooth and efficient development process.

Almonty CEO Lewis Black confirmed ongoing talks with the US Department of Defence. He emphasized that the company seeks transparent, market-based purchase agreements rather than direct government funding. This approach highlights Almonty’s plan to build a sustainable and geopolitically secure tungsten supply chain.

Strategic Impact on the US Tungsten Market

The Montana acquisition is more than an expansion for Almonty Industries. It signals a turning point for America’s critical mineral independence. Tungsten is vital for armor-piercing ammunition and semiconductor production. As a result, renewed US mining could strengthen industrial resilience amid trade tensions with China.

Almonty’s diversified portfolio also enhances its global presence. Beyond Montana, the company runs a tungsten mine in Portugal and is advancing production at its Sangdong Molybdenum Project in South Korea. Earlier this year, it signed an exclusive offtake deal with SeAH Group to supply molybdenum from Sangdong. This partnership further cements Almonty’s position in the battery and specialty metals markets.

Tungsten concentrate from the Montana project could go to Global Tungsten & Powders, Kennametal, and Buffalo Tungsten. These partnerships will support domestic carbide and alloy production. They will also strengthen local value chains and reduce reliance on imports.

SuperMetalPrice Commentary:

Almonty Industries’ acquisition of the Montana tungsten project marks a bold move in the race for critical mineral security. The US government’s push to secure domestic tungsten supply adds strategic depth to the initiative. With demand for high-performance materials rising in defense and semiconductors, Almonty is well positioned to lead tungsten’s global revival. Investors should watch permit progress closely, as this project could reshape North America’s tungsten industry by 2026.