Almonty Industries (ASX: AII) has entered into a strategic partnership agreement with American Defense International Inc (ADI) to support its position as a leading allied supplier of tungsten to the US defence and technology industries.
The partnership represents a significant step in strengthening Almonty’s strategic positioning within the critical metals sector and will enhance engagement in the US market by reinforcing its alignment with and support of government policies and industry priorities.
Almonty has confirmed it will redomicile its operations to the US to aid the partnership.
Government relationships
Founded in 1995 and supported by a team of former senior government officials, military officers and congressional aides, ADI assists companies in securing key government relationships, advancing strategic initiatives and facilitating global expansion.
ADI represents over 100 organisations across 11 countries, including rocket producer SpaceX, founded by Elon Musk.
Almonty expects the company’s influence and reach to be key in positioning it within secure and sustainable tungsten and molybdenum supply chains.
Keen to start
Almonty chief executive officer Lewis Black said the company was keen to start working with ADI.
“As we move to finalise our redomiciling to the US, ADI’s expertise will position us to strengthen relationships with key stakeholders in a rapidly evolving global landscape,” he said.
“We look forward to working closely with the ADI team as we strive to create sustainable, long-term value for our shareholders.”
Diversified producer
Almonty is a diversified and experienced global producer of tungsten concentrate in conflict-free regions.
The company is currently mining, processing and shipping the product from the Panasqueira mine in Portugal.
Construction activities also continue at its Sangdong tungsten mine in South Korea’s Gangwon province.
Long-life deposit
Sangdong was historically one of the largest tungsten mines in the world and is one of the few long-life, high-grade tungsten deposits outside China.
Almonty believes the project has significant additional upside potential from an underlying molybdenum deposit.
Additional development projects in the company’s portfolio include the Valtreixal tin-tungsten project in north-western Spain and the Los Santos mine in western Spain.
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