What is an Offtake Agreement? (Updated 2024)

Almonty Enters into Binding Offtake Agreement to Supply Tungsten Oxide Solely for U.S. Defense Applications

TORONTO -- Almonty Industries Inc. (TSX: AII) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI) (“Almonty” or the “Company”), a leading global producer of tungsten concentrate, today announced the execution of a binding Offtake Agreement with Tungsten Parts Wyoming, Inc. (“TPW”), a U.S.-based defense contractor, and Metal Tech (“MT”), a tungsten processor based in Israel.

What is an Offtake Agreement? (Updated 2024)

Offtake agreements play a critical role in obtaining project financing for high capital expenditures, such as manufacturing plants or processing facilities. From early-stage enterprises to more mature businesses, cash flow challenges can make it difficult to secure loans to finance infrastructure projects. This type of contract can go a long way to mitigate risk in the eyes of lending institutions. Offtake agreements are often employed in a wide…

Almonty to supply tungsten oxide to US defense contractor

Almonty Industries (TSX:AII), a tungsten producer in Portugal and soon to be South Korea, signed a binding three-year offtake agreement with Tungsten Parts Wyoming, a US defense contractor, and Metal Tech, a tungsten processor in Israel The company will supply 40 tons of tungsten oxide per month for US defense applications Almonty is a global provider of tungsten concentrate in conflict-free regions Almonty stock has added 262.50 per cent year-…