Almonty Adds Rwanda Stake to Korean Production Launch and Spanish Offtake
Published on 09/23/2026 at 13:32 | Editorial boerse-global.de
Almonty Industries is stitching together a tungsten footprint that now spans three continents, pairing a long-awaited production green light in South Korea with fresh offtake arrangements in Europe and a state-level partnership in Africa.
The Toronto-listed miner's shares changed hands at EUR 12.54 at yesterday's close, putting the stock up 58 percent since the start of the year. That advance reflects mounting investor attention to a company that is converting exploration-stage assets into contracted, revenue-generating operations.
Sangdong Clears Its Final Regulatory Gate
Roughly a week ago, Almonty secured the last outstanding permits needed at its Sangdong mine in Yeongwol, Gangwon Province. South Korean authorities issued inspection certificates covering both the processing plant and the crushing facilities — the final regulatory condition standing between the project and commercial operation.
Those approvals also authorize regular operation and the sale of tungsten concentrate. With Phase I now commercially ready, the company can move from construction and commissioning into routine marketing of its output, a transition Almonty describes as proceeding on schedule.
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Spain Adds a Take-or-Pay Backstop
On the European side, Almonty signed a multi-year take-or-pay supply agreement for the Los Santos tungsten mine in western Spain with Wolfram Bergbau und Hütten AG, a subsidiary of the Sandvik group.
The contract centers on reprocessing the site's existing tailings stockpiles and carries a minimum purchase commitment of about 1,720 tonnes of contained WO?. It also provides for a conditional advance payment of US$3.0 million tied to the offtake rights — cash that arrives before any material leaves the ground.
Rwanda Takes a Quarter Stake in the African Arm
Almonty's African expansion moved forward through a partnership in which the Rwandan state acquires a 25 percent interest in Almonty Rwanda Pty Ltd. In exchange, the country contributes the Shyorongi tungsten exploration concession along with a mineral processing license. Almonty retains the remaining 75 percent of the venture.
Reuters reported that the arrangement is aimed at jointly developing Rwanda's tungsten resources, giving the company a government-backed platform on the continent rather than a wholly owned asset.
A Framework Built on Contracts and Permits
Taken together, the Korean certification, the Spanish offtake and the Rwandan joint venture give Almonty a defined structure for supplying the industrial metal: binding purchase obligations in Europe, regulatory clearance to sell in Asia, and a state partner in Africa. That combination of secured demand and licensed production capacity is what now underpins the company's positioning in the global tungsten market.
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