08:44 AM EDT, 06/09/2025 (MT Newswires) -- Almonty Industries ( ALMTF ) , a global producer of tungsten concentrate, on Monday said it received a formal letter from the chairman and ranking member of the U.S. House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party.

The company said that the committee acknowledged the significance of Almonty's Sangdong Mine in South Korea in the letter, which is expected to become "the largest tungsten producer outside of China." It also noted the company's planned redomiciling to the United States, which will enable Almonty to become "the only U.S.-based company producing tungsten concentrates at commercial scale."

The company said it is nearing completion of its processing facilities at the Sangdong Mine, with first production targeted for 2025.

The company further stated that the committee also expressed interest in ongoing engagement with Almonty, with a focus on "potential collaboration in support of the U.S. defense industrial base, including supply chain integration with American defense contractors and potential additions to the National Defense Stockpile."

"This recognition from U.S. congressional leaders affirms that Almonty's Sangdong project is far more than a commercial endeavor - it is strategic infrastructure vital to the security and resilience of U.S. and allied supply chains," said Almonty Industries' ( ALMTF ) President and Chief Executive Officer, Lewis Black.

"As we prepare to redomicile to the United States, our objective is to go beyond being a supplier," added the CEO. "We are positioning Almonty as a trusted partner in reshoring and friend-shoring critical mineral capacity at a time when geopolitical pressures demand greater transparency, reliability, and allied control. We are deeply aligned with U.S. national security priorities and remain focused on delivering long-term value to our shareholders."