DealsJul 14, 2026, 08:41 AM
Almonty Expands Tungsten Offtake to $490M Annual Revenue
AI Summary
Almonty Industries Inc. announced an amendment to its long-term offtake agreement with Global Tungsten & Powders LLC for tungsten concentrate from its Sangdong Mine. The amendment extends the agreement term from 15 to 21 years, increasing total contracted volumes by 40% to 4.41 million metric tonne units (MTU). Additionally, pricing for all contracted volumes improved by approximately 6.3%, boosting expected annual contract revenue by at least US$30 million and bringing the total annual revenue to US$490 million over the contract's life at current pricing.
Key Highlights
- Offtake agreement term extended from 15 to 21 years, into the late 2040s.
- Total contracted quantity increased by 40% from 3.15 million to 4.41 million MTU.
- Minimum contracted volumes are 210,000 MTU per year following ramp-up.
- Pricing improved by approximately 6.3% on all contracted volumes.
- Expected annual contract revenue increased by at least US$30 million per annum.
- Total annual revenue now projected to reach US$490 million over the 21-year contract at current pricing.
- The amendment adds approximately US$630 million in additional revenue over the life of the agreement.
Price Impact
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