Almonty Industries (TSE:AII) has released an update.
Almonty Industries is set to receive the final two drawdowns totaling $10.6 million from KfW IPEX-Bank for the Sangdong Tungsten Mine, amid U.S. concerns over tungsten supply chain security. The U.S. Senate’s National Defense Authorization Act for Fiscal Year 2025 underscores the strategic importance of tungsten and the need for domestic or allied sources as alternatives to Chinese and Russian supplies.
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