Almonty Signs Tungsten Offtake Agreement with Sandvik Unit

08:06 AM EDT, 09/17/2026 (MT Newswires) -- Almonty Industries (ALM) said Thursday that it has signed a long-term deal to supply Sandvik Group's Wolfram Bergbau und Hutten unit with tungsten concentrate. The deal, which is structured on a take-or-pay basis, requires Wolfram Bergbau to pay a conditional pay-to-play upfront $3 million payment for the offtake rights under the expectation that production at the Los Santos Mine in Spain will restart, Almonty said. The agreement is intended to create an expedited tungsten supply solution that can provide concentrate a much faster than a traditional mine can, Almonty said. The material supplied under the deal will come from the retreatment of the mine's existing tailings inventory, the company added. Shares of Almonty were up 3.6% in recent Thursday premarket activity.