Almonty Industries Inc. has entered into a long-term, take-or-pay tungsten concentrate supply and recycling agreement with Wolfram Bergbau und Hütten AG, a subsidiary of the Sandvik Group, covering the retreatment of existing mine tailings at the Los Santos Mine in western Spain.

The arrangement includes a conditional, upfront US$3.0 million one-time payment for offtake rights. Material supplied under the agreement will be drawn entirely from the retreatment of the mine’s existing tailings inventory in anticipation of a production restart.

The Los Santos operation is an open-pit scheelite skarn asset located approximately 50 kilometres south of Salamanca that has been on planned care and maintenance since February 2020.

“WBH is the only integrated tungsten smelter outside Asia and Russia, and recycling is central to how they operate which makes them a natural fit for what Almonty is doing at Los Santos, where the restart is built around recovering tungsten from material that has already been mined and processed once.” — Lewis Black, Chairman, President and Chief Executive Officer

The contract establishes a committed European Union route to market featuring index-linked pricing with a price floor, alongside a sharing of financial requirements to reactivate the property.

“What this agreement gives us is a take-or-pay commitment from a Sandvik Group company, index-linked pricing with a floor beneath it and a sharing of the financial requirements to reactivate the property. That combination is what allows us to bring a European Union asset back into production with a defined route to market from the first shipment.” — Lewis Black, Chairman, President and Chief Executive Officer

Elsewhere in the regional tungsten sector, Eq Resources Limited recommenced mining operations in the southern pit at its Barruecopardo tungsten project in July 2026 following a dewatering program.

Almonty plans to re-commence production at the Los Santos operation through the retreatment of its existing tailings inventory under the offtake agreement.

Read the full announcement: Almonty Signs Tungsten Offtake Agreement with Sandvik Group Subsidiary for Recycling of Existing Mine Tailings