Almonty Extends Tungsten Offtake Agreement with GTP, Increases Volume and Revenue Potential

Published: Jul 16, 2026 17:59

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[SMM Tungsten Express] Almonty Industries announced that its long-term offtake agreement with Global Tungsten & Powders (GTP) for tungsten concentrate from the Sangdong mine has been extended by six years, from 15 to 21 years. The total contract volume has increased by 40% to 4.41 million metric tonne units (approximately 3,230 standard tonnes). The minimum annual offtake is 210,000 MTU. The agreement covers approximately 90% of Phase I production, with improved pricing expected to increase revenue per MTU by 6.3%. GTP is a key supplier of tungsten powders to U.S. defense and industrial supply chains.

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