[99.95% fine tungsten]
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Almonty Industries (NASDAQ:ALM [https://seekingalpha.com/symbol/ALM]) agreed to acquire [https://www.bloomberg.com/news/articles/2025-10-27/tungsten-miner-buys-us-project-in-bid-to-resume-american-supply] a tungsten project in Montana for an unspecified amount of cash and stock, with plans to quickly turn it into the first U.S. mine in a decade to produce the metal, Bloomberg reported Monday.
The company said it is acquiring the Gentung-Browns Lake project, which was formerly operated by Union Carbide, but it did not identify the seller.
Subject to obtaining an extraction permit, Almonty (NASDAQ:ALM [https://seekingalpha.com/symbol/ALM]) said it could restart mining at Gentung-Browns Lake as soon as late 2026 using reconditioned equipment from its facilities in Spain, adding that water rights and pipes already are in place.
The company is holding supply talks with the U.S. Department of Defense, CEO Lewis Black told Bloomberg.
China is the world's top supplier of tungsten, while the U.S. produces zero.
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* Financial information for Almonty Industries [https://seekingalpha.com/symbol/AII:CA/income-statement]
Almonty buys U.S. tungsten project in attempt to resume local supply
Published 1 week ago
Oct 27, 2025 at 11:51 PM
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