Almonty Industries has signed a binding agreement with the Government of Rwanda to form a new tungsten-focused partnership, under which Rwanda will obtain a 25% interest in a new platform, Almonty Rwanda.
The platform aims to collect and export tungsten ore, pre-concentrate and panning tailings sourced from small-scale licence holders in Rwanda.
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The agreement includes Rwanda contributing the Shyorongi exploration concession and a mineral processing licence to the project.
Almonty will retain the remaining 75% stake in the entity.
A mobile processing unit is planned to upgrade these materials, with the partnership intending to export products until a collection and processing plant is built in the country.
The Government of Rwanda will assist Almonty Rwanda in acquiring material from local mine operators, landowners and licence holders.
This initiative follows an introduction by the US Department of State under the 2025 US-Rwanda Framework for Shared Economic Prosperity.
The US has also signalled additional support for investments in critical minerals in the region through the Washington Accords for Peace and Prosperity.
The transaction is viewed by both parties as a first stage towards a broader investment framework covering future development and the construction of a centralised processing facility in Rwanda.
Almonty chairman, president and CEO Lewis Black said: “The most immediate opportunity here is the material that is already being produced. Rwanda’s small-scale license holders are producing ore, pre-concentrate and panning tailings today, and this agreement allows us to collect, upgrade and export that material while we build out the collection and processing plant.
“We are combining that existing production base with modern processing, traceability and our own exploration programme, with the Government of Rwanda participating alongside us as an equity partner.”
The block, which encompasses around 32km² at Shyorongi, is designed to access near-term production from the existing output of the sector.
Almonty’s project pipeline includes mining developments backed by government agencies in other countries such as South Korea and Germany.
The new partnership in Rwanda comes as forthcoming US defence procurement regulations will require greater traceability of tungsten ore and feedstock from 2027, placing increased emphasis on documented sources of supply.
In July 2026, Almonty started processing plant throughput operations at the Sangdong Mine in South Korea.
