Almonty Industries, a tungsten concentrate producer, has received a formal letter from the US House Select Committee on the strategic competition between the US and the Chinese Communist Party.
The move highlights the company’s critical role in strengthening the US critical mineral supply chain amid growing geopolitical uncertainity.
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Almonty’s Sangdong Mine in South Korea has been acknowledged by the Committee for its potential to become the largest tungsten producer outside of China.
The company is in the final stages of completing its processing facilities at the mine, with first production anticipated in 2025.
This move is set to significantly enhance the resilience of the US supply chain for tungsten, which is vital for defence applications including munitions and aerospace, especially since there has been no commercial production of tungsten in the US since 2015.
The Committee has expressed a strong interest in ongoing engagement with Almonty, focusing on potential collaboration to support the US defence industrial base.
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By GlobalDataThis includes integrating supply chains with US defence contractors and considering potential contributions to the National Defense Stockpile.
Almonty has responded to all inquiries from the Chairman and Ranking Member of the US House Select Committee.
The significance of this development is heightened by the company’s plans to redomicile to the US, which would make Almonty the only US-based company producing tungsten concentrates at a commercial scale.
Almonty president and CEO Lewis Black said: “This recognition from US congressional leaders affirms that Almonty’s Sangdong project is far more than a commercial endeavour – it is strategic infrastructure vital to the security and resilience of US and allied supply chains.
“As we prepare to redomicile to the United States, our objective is to go beyond being a supplier. We are positioning Almonty as a trusted partner in reshoring and friend-shoring critical mineral capacity at a time when geopolitical pressures demand greater transparency, reliability and allied control. We are deeply aligned with US national security priorities and remain focused on delivering long-term value to our shareholders.”
Last month, the company executed a binding offtake agreement with Tungsten Parts Wyoming, a US-based defence contractor, and Metal Tech, an Israel-based tungsten processor, to supply tungsten oxide.
