Almonty(ASX:AII) has executed a binding offtake agreement with Tungsten Parts Wyoming (TPW), a U.S.-based defense contractor, and Metal Tech (MT), a tungsten processor based in Israel, according to a Wednesday Australian bourse filing.
Under the agreement, TPW will buy a minimum of 40 metric tons of tungsten oxide per month from the company, to be exclusively used in U.S. defense applications.
"This binding offtake agreement represents a significant milestone for Almonty, securing both predictable revenue through a defined hard floor price and long-term demand tied directly to U.S. defense programs." Chief Executive Officer Lewis Black said.
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