Almonty Moves HQ to Montana, Acquires Gentung Tungsten Project for 2026 Restart
Almonty Industries relocated its headquarters from Toronto to Dillon, Montana and acquired the Gentung Tungsten Project, set to restart production in 2026. The move follows its July 2025 US$90 million IPO and December US$129 million financing and strengthens its non-Chinese tungsten supply chain alignment with U.S. defense and industrial partners.
1. Headquarters Relocation to Dillon, Montana
Almonty Industries has shifted its corporate headquarters from Toronto, Ontario to Dillon, Montana. The new location places the company closer to key U.S. government agencies, defense contractors and industrial partners, reflecting strategic alignment with critical mineral policy and supply chain security.
2. Gentung Tungsten Project Acquisition and 2026 Restart
The company completed the acquisition of the Gentung Tungsten Project in Montana, which is expected to resume production in 2026. This addition bolsters Almonty's asset base alongside its Sangdong Mine in South Korea, enhancing its global tungsten output.
3. Financing Milestones
Almonty raised US$90 million through its July 2025 IPO on Nasdaq and secured US$129 million in a December follow-on financing. These funds support Gentung’s restart and broader expansion of non-Chinese tungsten operations.
4. Strategic Non-Chinese Supply Chain Position
With Sangdong Phase 1 complete and Gentung on track, Almonty targets a leading role in the Western tungsten market. The company also maintains projects in Portugal and Spain as it aims to reduce reliance on Chinese exports and meet growing defense and industrial demand.