Tungsten Miner to Resume American Supply
Almonty, a Toronto-based firm, has agreed to buy a tungsten project in Montana, planning to quickly produce metals for the U.S.
The project, formerly operated by Union Carbide Corp., will be acquired using stock and some cash, with details to be announced later.
Subject to obtaining an extraction permit, Almonty could restart mining as soon as late next year, utilizing reconditioned equipment from its facilities in Spain.
Water rights and pipes are already in place, facilitating a potential restart of operations.
Almonty is proposing state purchases of tungsten using transparent, market-based prices.
Author's summary: Almonty buys Montana tungsten project.
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