Almonty Industries Partners With Rwanda To Secure Tungsten Supply

Almonty Industries Inc. has entered into a binding agreement with the government of Rwanda to establish Almonty Rwanda Pty Ltd, a strategic partnership designed to source and process tungsten. Under the terms of the deal, the government of Rwanda holds a 25% equity stake in the local unit in exchange for a mineral processing license and the Shyorongi tungsten exploration concession in the Rulindo District. Almonty retains the remaining 75% ownership.

The venture will initially acquire ore and tailings from licensed small-scale Rwandan producers using a mobile processing unit while working toward the construction of a permanent facility. The partnership aims to modernize Rwanda's mining sector and secure a Western-aligned supply chain for customers in the United States, Europe, Japan, and South Korea. This move anticipates stricter U.S. defense procurement rules effective January 1, 2027, which will mandate documented origin for tungsten materials.

The United States Department of State introduced the partners under the 2025 U.S.-Rwanda Framework for Shared Economic Prosperity. While the U.S. government provided political support and helped structure the agreement, it is not providing direct funding. Almonty CEO Lewis Black described the initiative as a short-term solution to the widening supply deficit in the West and a method to improve traceability in Rwanda's mining industry.