Almonty Industries (ASX:AII) has entered into a strategic partnership agreement with prominent government relations and business development firm, American Defense International.
This represents a step in strengthening Almonty’s strategic positioning within the critical metals sector to support the US Government, as well as the American defense and technology industries.
Almonty, which has a market capitalisation of $443.59 million, says the collaboration will enhance engagement in the US market by reinforcing the company’s alignment and support of government policies and industry priorities.
CEO Lewis Black says this partnership will help position Almonty as an allied supplier of tungsten and molybdenum for American interests.
“As we move to finalise our redomiciling to the US, American Defense International’s expertise and relationships, forged through working with industry-leaders such as SpaceX, will position us to strengthen relationships with key stakeholders in a rapidly evolving global landscape,” Black says.
Tungsten is a refractory metal and has the highest melting point among all elements. The metal is extremely durable and nearly impossible to scratch. It is commonly used in electrodes, heating elements, and field emitters.
Molybdenum is used in steel alloys to increase strength, hardness, electrical conductivity, and resistance to corrosion and wear.
Founded in 1995, the American Defense International assists companies in securing key government relationships, advancing strategic initiatives, and facilitating global expansion.
Almonty Industries is a diversified tungsten producer that currently mines, processes, and ships tungsten from its operations in Portugal. The company also has assets in South Korea and Spain.
Write to Aaliyah Rogan at Mining.com.au
Images: Almonty Industries
