As global tungsten prices soar, US mining company Almonty Industries (ALM.US) swiftly secures a Rwandan tungsten mine to ease supply tightness.

Zhitong Finance APP has learned that against the backdrop of a historic surge in global tungsten prices and continuously tightening Chinese export controls, U.S. mining company Almonty Industries (ALM.US) has reached a landmark cooperation agreement with the Rwandan government. According to the binding agreement disclosed on September 14, Rwanda will provide exploration concessions and processing licenses in exchange for a 25% equity stake in Almonty's local subsidiary, while Almonty retains ownership of the remaining 75%. This deal is not only a key step in Almonty's global expansion strategy, but also marks the first time that the West has systematically extended its reach deep into the African continent in the process of building a "de-China-fied" tungsten supply chain.