Almonty says US tungsten scrap export licensing targets sales to China, not domestic processing flows
ALM•Market context and buyback plan
Commentary cited China’s tight export-licensing regime since February 2025, with only 28 t of APT exported in H1 2026.
A market update pegged APT CIF Rotterdam/Baltimore near USD 3,000/mtu WO3, with concentrate at USD 2,400-2,600.
Almonty reiterated a USD 300 million share repurchase plan over three years to offset just over 7% potential convertible dilution.
US licensing blocks tungsten scrap exports for one year
Almonty outlined new US licensing that blocks exports of tungsten scrap for one year, keeping 100% of material domestic.
Management framed the move as closing a channel that diverted US scrap directly to China at a premium.
