Almonty Industries to Supply Tungsten to Sandvik from Spanish Tailings

Almonty Industries entered a long-term, take-or-pay agreement to supply tungsten to Sandvik through its Wolfram Bergbau und Hütten AG unit. The company will recover the heat-resistant metal from tailings at the shuttered Los Santos mine in Spain using specialized processing technology.

This arrangement establishes a European source of tungsten for Sandvik, reducing its reliance on the Government of China, which produces roughly 80% of the global supply and tightened export controls in 2025. Almonty Industries stated the agreement is intended to create an expedited supply solution that delivers concentrate faster than the development of a traditional mine.

The initiative aligns with the European Union's Critical Raw Materials Act of 2024. This legislation encourages internal extraction and recycling to secure supply chains for materials essential to the production of weaponry and semiconductors.