Almonty Industries to Acquire Tungsten Project in Montana, US
Toronto-based Almonty Industries has agreed to acquire a tungsten project in Montana, with plans to transform it into the first US mine in ten years to produce tungsten.
The metal is essential for producing weapons and semiconductors. The project, previously managed by Union Carbide, will be purchased using a combination of stock and cash, as
reported by Bloomberg, the gold standard of business intelligence.
- Almonty could potentially resume mining operations as early as late next year.
- The company will utilise refurbished equipment sourced from its Spanish facilities.
- The necessary water rights and infrastructure are already established.
Author's summary: Almonty Industries acquires a tungsten project in Montana.