08:47 AM EST, 11/17/2025 (MT Newswires) -- Almonty Industries ( ALM ) said Monday that it has acquired the Gentung Browns Lake tungsten project in Montana, marking the start of its operations in the U.S.

The project is expected to produce about 140,000 metric ton units of output per year based on initial design expectations.

Almonty said the acquisition aligns with the initiatives of the U.S. government to strengthen critical mineral independence across defense, aerospace, and advanced technology sectors.

"By entering the U.S., we are expanding into the world's most strategic market for tungsten, one that is actively rebuilding domestic supply chains and reducing reliance on China," said Lewis Black, Chairman and Chief Executive Officer of Almonty. "This acquisition establishes the foundation of a Western tungsten powerhouse with the ability to deliver secure, sustainable, and high-quality supply to the United States and its allies."

Almonty's share price fell 3.9% on Friday to C$9.25 on the Toronto Stock Exchange.