Almonty and Rwanda form tungsten venture with state taking 25 percent stake

Almonty Industries has entered a binding joint venture with Rwanda’s government to develop tungsten production, with Rwanda receiving a 25% stake in Almonty Rwanda in exchange for the 32-square-kilometer Shyorongi exploration concession and a mineral-processing license. Almonty will retain 75% and initially source, upgrade and export ore, pre-concentrates and tailings from licensed Rwandan producers, including small-scale miners, while deploying a mobile processing unit ahead of a planned permanent facility. The partnership is intended to provide near-term supply and create a traceable, conflict-free tungsten chain for Western customers seeking alternatives to China’s dominant market position. The venture was facilitated through U.S.-Rwanda economic cooperation and is part of Almonty’s broader effort to address Western tungsten shortages through existing production and new exploration.