Almonty says China export curbs leave West short of tungsten intermediates, APT near USD 3,000/mtu WO3
ALM•Almonty said China’s export restrictions have tightened Western tungsten supply, with Western APT assessed near USD 3,000/mtu WO3 on Sept. 25, 2026. The company also reported agreements to buy Rwandan miners’ output and take at least 1,720 metric tons of contained WO3 from Spain’s Los Santos tailings, while its Sangdong plant ramps up.
1. Supply and operations
Almonty management flagged a sharp tightening in Western tungsten supply as China restricted exports of APT and oxide, with China still exporting minimal intermediates. The company formed a partnership to buy output from small-scale miners in Rwanda, which produces about 1,200 metric tons a year, and signed a take-or-pay offtake with Sandvik’s Wolfram for at least 1,720 metric tons of contained WO3 from Spain’s Los Santos tailings; Almonty said its Sangdong processing plant is commercially operational and ramping up on a 12-hour-a-day, seven-day-a-week schedule.
