Almonty Industries (Almonty) has agreed to purchase the Gentung-Browns Lake project from Union Carbide.

Almonty, a Canadian primary tungsten producer, currently redomiciling to the USA, has announced an agreement to acquire the Gentung Browns Lake project in Montana from US chemical company, Union Carbide.

The asset, a former tungsten operation historically operated by Union Carbide, has been inactive for several decades. Under the terms of the agreement, Almonty will purchase the project through a cash and stock transaction, with financial details undisclosed.

Almonty currently operates the Panasqueira Mine in Portugal and holds an idled asset in Spain (Los Santos), alongside two development-stage projects, Sangdong in South Korea and Valtreixal in Portugal.

The acquisition of Gentung Browns Lake adds another strategic project to Almonty’s pipeline, complementing the near-term development of Sangdong and early-stage work at Valtreixal.

Production at Gentung Browns Lake is targeted to commence by late 2026. To accelerate construction, Almonty intends to leverage existing site infrastructure and redeploy refurbished mining equipment from its Spanish operation.

The USA has not produced primary tungsten since 2015, relying instead on imports and secondary supply to meet its requirements. Project Blue estimates that the USA consumed about 13kt W in 2024. In September 2025, tungsten was subsequently exempt from the US country-based tariffs due to its reliance on imports.

Almonty’s acquisition aligns with the company’s strategy to become a key tungsten supplier to the US market. It also supports broader US objectives to strengthen and reshore domestic supply chains for critical minerals and reduce reliance on China.