Tungsten Parts Wyoming, Inc. (TPW)
Almonty Industries Inc., a leading global producer of tungsten concentrate, announced the execution of a binding Offtake Agreement with Tungsten Parts Wyoming, Inc. (TPW), a U.S.-based defense contractor, and Metal Tech (MT), a tungsten processor based in Israel.
Under the agreement, TPW has committed to purchase a minimum of 40 metric tons of tungsten oxide per month from Almonty. All material supplied under the agreement is to be exclusively used in U.S. defense applications, including use in missile, drone, and ordnance systems. MT, acting as the designated processor, will convert the tungsten oxide into tungsten metal powder in Israel or the United States, with all processed material intended solely for TPW’s U.S. defense production programs.
Deliveries will commence upon Almonty’s initial production of tungsten oxide in commercially saleable quantities and will be subject to a hard floor price comparable with in-place existing floor prices, subject to grade-specific adjustments in accordance with the terms of the agreement, and 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,” says Lewis Black, CEO of Almonty. “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. It reflects our broader commitment to aligning production with national security priorities while delivering sustainable value to my fellow shareholders and is another customer of Almonty who is happy to commit to our hard floor pricing terms as a condition of supply.”
This agreement further positions Almonty as a strategic supplier of critical raw materials for national security and underscores the integration of an upstream supply with allied defense manufacturing capabilities.