US mining company signs agreement for Rwandan tungsten mine project

An American mining company is collaborating with the Rwandan government to procure and process tungsten ore locally. Under a binding agreement, the Rwandan side will take a 25% stake in the local subsidiary of Almonty Industries Inc. by providing an exploration concession and a processing license. The U.S. government helped facilitate this Rwanda partnership and provided political support, but did not directly provide funding. The tungsten ore produced will be shipped to customers in the United States, Europe, Japan, and South Korea.