Update: Almonty Signs Deal With Rwanda to Source, Process Tungsten

08:33 AM EDT, 09/14/2026 (MT Newswires) -- (Updates with deal confirmation from Almonty in the first to third paragraphs.) Almonty Industries (ALM) has entered a binding agreement with the government of Rwanda to form a joint venture, the company said Monday. Under the partnership, Almonty said it will acquire ore, pre-concentrate and panning tailings from licensed Rwandan producers and small-scale miners, which can initially be sold, upgraded or exported. Rwanda will take a 25% stake in the local unit of Almonty by contributing an exploration concession and a processing license, the company said. The US government assisted in structuring the partnership and provided political support but will not offer funding, Almonty Chief Executive Lewis Black said in an interview, Bloomberg reported Monday.