Almonty Montana tungsten project strengthens US critical minerals supply

Almonty Industries

Almonty Montana tungsten project will strengthen US tungsten supply as the company acquires Gentung Browns Lake in Montana. The asset ranks among the most advanced undeveloped US tungsten projects, according to Almonty Industries. As a result, the deal positions Almonty as a key North American tungsten concentrate supplier.

Strategic acquisition terms and project timeline

Almonty Industries will acquire Gentung Browns Lake for $9.75mn in a combined cash and share transaction. The package includes $750,000 in cash and $9mn in Almonty shares, aligning seller incentives with long-term project success. However, the relatively modest entry cost underscores the value upside if tungsten prices tighten.

Almonty expects production at the Almonty Montana tungsten project could begin as early as the second half of 2026. This timing would place new US tungsten output into the market amid ongoing concerns about Chinese supply dominance. Therefore, the project fits broader US and allied efforts to diversify strategic metals sourcing.

Permits, infrastructure and processing advantages

The acquisition also includes plant permits, water rights and tungsten processing equipment from a Montana-based operator. These assets shorten the development timeline and can lower initial capital intensity for the Almonty Montana tungsten project. Meanwhile, existing permits reduce early-stage regulatory risk, always a critical factor for US mining projects.

Almonty plans to use the acquired equipment to process ore from Gentung Browns Lake once mining starts. Integrating permits, water rights and processing infrastructure allows a more streamlined ramp-up path. As a result, the project can move faster from feasibility work to cash-generating tungsten concentrate production.

The Metalnomist Commentary

This move confirms Almonty’s strategy to build a multi-asset tungsten portfolio anchored in OECD jurisdictions. For the US, incremental output from Montana will not replace Chinese supply, but it will matter for defense and high-performance alloy chains. Investors should watch how Almonty sequences capex and offtake deals as tungsten regains attention as a strategic metal.