08:01 AM EDT, 05/07/2025 (MT Newswires) -- Almonty Industries ( ALMTF ) on Wednesday said it signed an offtake agreement with Tungsten Parts Wyoming (TPW), a U.S.-based defense contractor, and Metal Tech (MT), a tungsten processor in Israel.

TPW will buy at least 40 metric tons of tungsten oxide per month from Almonty with all material supplied to be solely used in U.S. defense applications. MT, as designated processor, will convert the tungsten oxide into tungsten metal powder in Israel or the United States.

Deliveries will begin when Almonty's initial production of tungsten oxide is available in commercially saleable quantities and will be subject to a hard floor price, subject to grade-specific adjustments, with no cap on the upside.

The agreement has an initial term of three years from the date of first delivery, subject to early termination, with automatic annual renewals thereafter.

"This binding offtake agreement represents a significant milestone for Almonty, securing both predictable revenue through a defined hard floor price and long-term demand tied directly to U.S. defense programs," said Chief Executive Lewis Black. "Beyond commercial certainty, the agreement ensures that our tungsten oxide will serve a strategic, high-value end-use - reinforcing Almonty's position as the key upstream supplier to the defense supply chain of the U.S. and its allies."