Almonty signs multi-year tungsten offtake deal
Almonty secures a multi-year, take-or-pay tungsten offtake with a Sandvik subsidiary, backed by a US$3 million upfront payment tied to restarting Los Santos tailings retreatment.
Rhea-AI Filing Summary
Almonty Industries Inc. (ALM) entered into a long-term tungsten concentrate supply agreement with Wolfram Bergbau und Hütten AG, a Sandvik Group subsidiary, for the retreatment of existing tailings at the Los Santos Mine in Spain. The multi‑year, take‑or‑pay agreement covers a minimum of approximately 1,720 tonnes of contained WO₃ and includes a conditional, one‑time US$3.0 million payment for offtake rights. The deal is structured in anticipation of restarting production at Los Santos, which has been in planned care and maintenance since February 2020, and is intended to provide a committed route to market and customer capital to help reinstate the processing plant. For WBH, the agreement secures a documented non‑Chinese, European Union origin feed source ahead of January 1, 2027 changes to U.S. defense procurement rules that restrict specified tungsten materials from certain countries.
Positive
- Multi-year take-or-pay offtake with Sandvik subsidiary and US$3.0 million upfront supports the planned restart of Los Santos by providing a committed sales outlet and customer capital for processing plant reinstatement.
Negative
- None.
Filing Explained
The agreement adds an indexed price floor, while the minimum volume remains subject to restart, conditions, and possible termination before delivery.
As a Form 6-K, this filing furnishes interim information from a foreign private issuer; Almonty reports that the agreement is entered in anticipation of restarting Los Santos, before production resumes. The immediate structural change is a contracted route to market for future tailings-derived concentrate, rather than current production.
The disclosed commercial mechanics are take-or-pay and index-linked pricing with a floor beneath it. These terms define the commercial framework for future deliveries but do not establish that the plant has restarted or that concentrate has been shipped.
Although the release describes a minimum volume commitment of approximately
The material resolution points are satisfaction of the agreement’s conditions, reinstatement of the processing plant, successful tailings retreatment and the re-commencement of production.
Key Figures
Key Terms
take-or-pay financial
tailings technical
scheelite skarn technical
forward-looking statements regulatory
non-Chinese, European Union origin feed source financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Almonty Industries Inc. (ALM) announce in this Form 6-K?
How much tungsten is covered under Almonty’s new offtake agreement for Los Santos?
What upfront payment does Almonty receive under the tungsten offtake agreement?
Why is non-Chinese origin tungsten important in Almonty’s deal with WBH?
How does the agreement affect the Los Santos Mine’s operating status for ALM?
What is the strategic focus of Almonty (ALM) at Los Santos under this agreement?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For the month of September, 2026
Commission File Number: 001-42737
ALMONTY INDUSTRIES INC.
(Translation of registrant’s name into English)
8 South Idaho Street, Suite A
Dillon, Montana 59725 United States of America
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☒
DOCUMENTS FILED AS PART OF THIS FORM 6-K
| Exhibit | Description | |
| 99.1 | Press Release, dated September 17, 2026 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| ALMONTY INDUSTRIES INC. | ||
| Date: September 17, 2026 | ||
| By: | /s/ Lewis Black | |
| Name: | Lewis Black | |
| Title: | Chief Executive Officer | |
Exhibit 99.1
Almonty Signs Tungsten Offtake Agreement with Sandvik Group Subsidiary for Recycling of Existing Mine Tailings
Multi-year, take-or-pay agreement covers a minimum of approximately 1,720 tonnes of contained WO₃, recovered from retreatment of the Los Santos Mine’s existing tailings inventory with restart of processing plant
DILLON, Montana – September 17, 2026 – Almonty Industries Inc. (“Almonty” or the “Company”) (Nasdaq: ALM) (Frankfurt: ALI1), a leading global producer of tungsten concentrate, today announced that it has entered into a long-term tungsten concentrate supply agreement with Wolfram Bergbau und Hütten AG (“WBH”), a subsidiary of the Sandvik Group, covering retreatment (“recycling”) of the Company’s existing tailings stockpile at the Los Santos Mine in western Spain. The agreement is intended to create an expedited tungsten supply solution with the ability to deliver concentrate in notably less time than the development of a traditional mine.
The agreement, which includes a conditional pay to play upfront US$3.0 million one-time payment for the offtake rights, is structured on a take-or-pay basis and is entered into in anticipation of the re-commencement of production at the Los Santos Mine, an open-pit scheelite skarn operation located approximately 50 kilometres south of Salamanca that has been in planned care and maintenance since February 2020. Material supplied under the agreement will be drawn from the retreatment of the mine’s existing tailings inventory.
For Almonty, the agreement establishes a committed route to market for a restarted European Union asset before production resumes, together with customer capital to support reinstatement of the processing plant. For WBH, the agreement adds a documented non-Chinese, European Union origin feed source to a smelter that supplies the Western hard-metal and powder-metallurgy industries.
A Recycled Route to Non-Chinese Tungsten
The agreement pairs two operations built on recovering tungsten from material that has already been mined once. At Los Santos, Almonty’s restart plan is centred on retreating the tailings inventory left behind by earlier processing rather than on new primary extraction. Through continuing tests and trials, the Company has materially improved WO₃ recovery from tailings retreatment.
WBH, which has been part of Sweden’s Sandvik Group since 2009, operates its refining and powder manufacturing complex at St. Martin in Sulmtal, Austria, where scheelite concentrate from its own Mittersill mine and concentrate purchased from around the world are processed alongside recycled secondary tungsten materials. The facility is the only integrated tungsten smelting plant outside of Asia and Russia, and the Sandvik Group’s business unit to which it belongs also operates a dedicated tungsten recycling capacity.
The agreement comes ahead of a significant change in United States defense procurement rules. Effective January 1, 2027, restrictions on specified tungsten materials originating in China, Russia, North Korea and Iran extend back through the supply chain to the mining or production of tungsten ore or feedstock, making documented non-Chinese origin increasingly important for tungsten entering covered United States defense supply chains.
Management Commentary
Lewis Black, Chairman, President and Chief Executive Officer of Almonty, said: “WBH is the only integrated tungsten smelter outside Asia and Russia, and recycling is central to how they operate which makes them a natural fit for what Almonty is doing at Los Santos, where the restart is built around recovering tungsten from material that has already been mined and processed once.
“What this agreement gives us is a take-or-pay commitment from a Sandvik Group company, index-linked pricing with a floor beneath it and a sharing of the financial requirements to reactivate the property. That combination is what allows us to bring a European Union asset back into production with a defined route to market from the first shipment. This is the first time tailings have been commercially passed in the West to our knowledge and is a culmination of technology that we have developed since we closed Los Santos in 2020 as it depleted its resource. If successful it will mean we have another tool to generate supply far quicker than opening of a mine and will continue to alleviate the supply squeeze. We would then also apply the same technology to our Panasqueira mines tailings and onwards to other abandoned European sites where we reclaim the site and at the same time recover material from the discarded tailings. Utilizing mobile tailings plants will expedite permit times significantly. This is now the second supply program we have been working on for the industrial base to sit alongside our recent announcement of small-scale miner collections in Rwanda. We have further programs that we are currently working on, and this will be announced shortly,” concluded Black.
About Wolfram Bergbau und Hütten AG
Wolfram Bergbau und Hütten AG is a vertically integrated producer of tungsten oxide, tungsten metal and tungsten carbide powders, and has been part of the global Sandvik Group since 2009. The company operates an underground scheelite mine at Mittersill, Salzburg, and a recycling, refining and powder manufacturing facility at St. Martin im Sulmtal, Styria – the only integrated tungsten smelting plant outside of Asia and Russia. To learn more, please visit https://www.wolfram.at.
About Almonty Industries Inc.
Almonty (Nasdaq: ALM) (Frankfurt: ALI1) is a leading supplier of conflict-free tungsten – a strategic metal critical to the defense and advanced technology sectors. As geopolitical tensions heighten, tungsten has become essential for armor, munitions, and electronics manufacturing. Almonty’s flagship Sangdong Mine in South Korea, historically one of the world’s largest and highest-grade tungsten deposits, is expected to be a major contributor to the global non-China tungsten supply chain upon reaching full capacity, directly addressing critical supply vulnerabilities highlighted by recent U.S. defense procurement bans and export restrictions by China. With established operations in Portugal and additional projects in the U.S. and Spain, Almonty is strategically aligned to meet rapidly rising demand from Western allies committed to supply-chain security and defense readiness. To learn more, please visit https://almonty.com.
Legal Notice
The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws. All statements, other than statements of present or historical facts, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words such as “plan”, “development”, “growth”, “continued”, “intentions”, “expectations”, “emerging”, “evolving”, “strategy”, “opportunities”, “anticipated”, “trends”, “potential”, “outlook”, “ability”, “additional”, “on track”, “prospects”, “viability”, “estimated”, “reaches”, “enhancing”, “strengthen”, “target”, “believes”, “next steps” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements in this news release include, but are not limited to, statements concerning the re-commencement of production at the Los Santos Mine and the timing thereof, the retreatment of the mine’s tailings inventory and expected recovery rates, the resumption of in-situ mining activities, the reinstatement of the Los Santos processing plant and the capital required to complete it, the satisfaction of conditions related to the agreement, and the anticipated anticipated benefits of the agreement.
Forward-looking statements are based upon certain assumptions and other important factors that, if untrue, could cause actual results to be materially different from future results expressed or implied by such statements. There can be no assurance that forward-looking statements will prove to be accurate. Key assumptions upon which the Company’s forward-looking information is based include, without limitation, the retreatment of the mine’s tailings inventory and expected recovery rates, the resumption of in-situ mining activities, the reinstatement of the Los Santos processing plant and the capital required to complete it, the satisfaction of conditions related to the agreement, and the anticipated benefits of the agreement. Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, including, without limitation, the risk that the agreement may be terminated in accordance with its terms prior to delivery of the cumulative minimum volume commitment, and the risks identified in the Company’s annual information form dated March 18, 2026 for the year ended December 31, 2025 and in the Company’s management’s discussion and analysis for the three and six months ended June 30, 2026 and 2025 dated August 11, 2026 under the heading “Risks and Uncertainties”.
Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, the foregoing list of material factors is not exhaustive, and there may be other factors that could cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary. When relying on Almonty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Company
Lewis Black
Chairman, President & Chief Executive Officer
(647) 438-9766
info@almonty.com
Investor Relations
Lucas A. Zimmerman
Managing Director MZ Group - MZ North America
(949) 259-4987
ALM@mzgroup.us
www.mzgroup.us