Almonty Signs New Offtake Deal, Amends Existing Offtake Agreement

Almonty Industries Inc. (TSXV:AII) announced that it’s signed a new five-year offtake agreement for its Panasqueira mine. It’s also signed an amendment to the existing supply agreement for its Los Santos mine; the amendment extends the offtake term for a further five years.
Lewis Black, CEO of Almonty, commented:

We are pleased to have been able to negotiate a favourable supply agreement for our recently acquired Panasqueira mine for a 5-year term. This, in addition to the distribution agreement signed with the former owner of the mine at acquisition, now accounts for 100% of the output from the mine. The 5-year extension to our Los Santos mine supply agreement validates our initial assumptions about this mine when we originally acquired it – namely that it would be a substantial long life stable supply of tungsten concentrate. Furthermore, as our Wolfram Camp mine supply agreement still has 4 years to run we are now assured of 100% off-take of our material from all of our producing projects for the foreseeable future.

Click here to read the full Almonty Industries Inc. (TSXV:AII) press release.