Almonty Monetizes Spanish Mine Waste and Seals Rwandan Joint Venture as Cash Pile Swells
Published on 09/19/2026 at 22:20 | Editorial boerse-global.de
Almonty Industries is pressing ahead on two fronts at once, pairing a fresh African partnership with the reprocessing of legacy material at its Spanish operations. The tungsten producer has tied new exploration rights to long-term offtake commitments and an active capital-management agenda, putting the mechanics of global tungsten supply squarely in the spotlight for investors.
At the center of the European effort sits Los Santos, where an agreement covers the reworking of existing tailings at the Spanish mine. The contract guarantees a minimum volume of roughly 1,720 tonnes of contained tungsten trioxide, and it hands Almonty a conditional one-time payment of USD 3.0 million for granting the offtake rights. By taking this route, the company converts leftover material into revenue without building new mining infrastructure, while the fixed purchase obligation gives the project dependable sales channels and binds a key industrial partner to the Spanish asset.
Rwanda Venture Adds Exploration and Processing Rights
On the African side, Almonty signed a binding partnership with the Rwandan government last Monday. Under the arrangement, the company holds 75 percent of Almonty Rwanda Pty Ltd, with the remaining 25 percent going to the state. In return, Rwanda contributes the Shyorongi exploration concession and a mineral processing license to the joint venture, according to Reuters.
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The venture is designed to serve as a central trading and processing platform. It will acquire raw ore, pre-concentrates and processing residues from local license holders and small-scale miners, then sell or upgrade those stocks. Until a dedicated processing plant is built in the country, the agreement provides for exporting the material. For Almonty, the licensing arrangement extends its value chain from exploration through to downstream processing of the strategic metal and strengthens direct access to future tungsten reserves on the continent.
Balance Sheet Backs the Expansion
The operational build-out rests on a substantial liquidity cushion. In second-quarter 2026 figures reported more than a month ago, Almonty posted revenue of C$43.0 million and net income of C$181.8 million. As of the June 30, 2026 reporting date, cash stood at approximately C$1.23 billion. Those resources are funding the company's global raw-materials push.
Alongside the operational moves, management has been streamlining its international listing footprint. After completing its withdrawal from the Toronto Stock Exchange in Canada, the company ended its quotation on Australia's ASX roughly two weeks ago, concentrating trading activity on fewer venues. A share buyback resolution further allows the resource group to react flexibly to market swings and retire stock through the exchange, underscoring its push to actively manage the capital structure alongside mining progress.
Shares Consolidate After a Strong Run
Trading has settled into a consolidation phase. On Friday the stock slipped 1.8 percent to close at EUR 12.07. The pullback leaves the shares well below their 52-week high of EUR 20.61, yet the title still boasts a gain of 52 percent since the start of the year — a performance that reflects the recent stretch of strategic repositioning.
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