DARPA taps Almonty to reshape global tungsten supply chain — here’s why it matters

Almonty Industries Inc., a global leader in tungsten concentrate production, has officially become a member of the Critical Minerals Forum (CMF), a strategic not-for-profit consortium backed by the U.S. Defense Advanced Research Projects Agency (DARPA). The company accepted an invitation to join CMF as its primary Western tungsten supplier, reinforcing its role in the defense and technology-critical mineral ecosystem. The forum, created to build resilient and diversified supply chains for essential materials, offers Almonty an opportunity to collaborate directly with other stakeholders in the critical minerals value chain—including miners, processors, end-users, investors, and governmental institutions.

This development is more than symbolic. It represents a convergence of U.S. national security priorities with commercial-scale supply chain strategies for critical minerals. Almonty’s participation adds a reliable Western partner to a forum already working on advanced AI-driven forecasting models to anticipate and manage supply, pricing, and geopolitical disruption risks for minerals such as tungsten, lithium, and rare earths.

What is the role of the Critical Minerals Forum and DARPA’s OPEN initiative?

The Critical Minerals Forum, in partnership with DARPA’s Open Price Exploration for National Security (OPEN) initiative, is focused on creating a data-driven, forward-looking model for global mineral supply chains. With funding and analytical support from DARPA, the forum deploys artificial intelligence and machine learning to predict cost, price, supply, and demand fluctuations in critical mineral markets. These models are geography-specific and take into account real-world variables like shipping logistics, regional policies, and geopolitical tensions.

For producers like Almonty, this means actionable intelligence—not just forecasts—on tungsten’s global demand trends and pricing environments. The OPEN initiative transforms traditional pricing and procurement models by offering probabilistic and transparent scenarios that help stakeholders contract, invest, and scale up operations based on future-leaning data rather than reactive strategies. Almonty’s CEO Lewis Black underscored this benefit, stating that CMF’s forecasts empower the company to refine its production and offtake agreements with a level of precision aligned to both market needs and geopolitical developments.

Why is tungsten considered critical, and how does Almonty support Western supply resilience?

Tungsten has been classified as a critical mineral by the U.S. government due to its strategic importance in defense, aerospace, energy, and high-performance electronic sectors. Applications range from armor-piercing ammunition and missile systems to turbine engines and clean energy infrastructure. However, the global tungsten market has been dominated by China, which has historically controlled over 80% of supply. This over-concentration poses a significant risk to Western nations, particularly in times of diplomatic or military strain.

Almonty fills a crucial gap in this landscape. With operations in Portugal, Spain, and South Korea, the company provides a rare non-Chinese, conflict-free, and transparent source of tungsten oxide to the Western defense and industrial complex. Almonty’s flagship projects, including the Panasqueira mine in Portugal and the under-construction Sangdong mine in South Korea, represent a foundation for allied nations to decrease reliance on opaque or restricted sources.

By joining CMF, Almonty not only gains access to elite industry collaboration and AI forecasting tools but also amplifies its voice in shaping future supply chain policy. The company is expected to participate in strategic discussions with agencies like the U.S. Geological Survey and allied governments that are actively working to secure sustainable sources of critical minerals.

How does Almonty’s global mine portfolio align with U.S. and allied strategic interests?

Almonty Industries operates several critical mineral projects across geopolitically stable jurisdictions. The Panasqueira mine in Portugal is a long-producing site that contributes steady tungsten concentrate output. The company’s South Korean Sangdong mine—once one of the world’s largest tungsten deposits—is undergoing redevelopment and is positioned as a significant future supplier outside of China. Sangdong also holds molybdenum potential, another mineral of increasing strategic relevance.

Additionally, Almonty is advancing its Valtreixal tin-tungsten project and reviving the Los Santos Mine in Spain. These European assets not only diversify production but are located in NATO-aligned countries, reinforcing Almonty’s suitability as a supplier to the U.S. and allied defense sectors. With this global footprint, Almonty is becoming a cornerstone of the emerging multipolar supply chain architecture promoted by U.S. policy agencies and multilateral security forums.

What are the implications for investors and supply chain participants?

Almonty’s CMF membership is expected to enhance its visibility among institutional investors, defense contractors, and government procurement officers seeking secure, scalable sources of tungsten. By leveraging AI insights from DARPA’s OPEN initiative, the company could improve its revenue forecasting, optimize offtake agreements, and possibly mitigate volatility associated with pricing fluctuations or geopolitical disruptions.

Investor sentiment toward critical mineral producers has been improving in light of rising geopolitical awareness around supply chain vulnerabilities. Almonty’s transparent operations, legal compliance across jurisdictions, and strategic project pipeline position it to benefit from increased capital flows into critical mineral infrastructure. Furthermore, its collaboration with CMF may pave the way for future government-backed funding, public-private partnerships, or long-term procurement agreements with defense and aerospace OEMs.

For market participants more broadly, Almonty’s alignment with CMF signifies a growing institutional push to de-risk supply chains by anchoring production in transparent, rule-of-law jurisdictions. This mirrors U.S. legislative moves such as the Inflation Reduction Act and CHIPS Act, which link material sourcing to eligibility for federal incentives.

How does this announcement fit into broader global trends in critical mineral security?

Almonty’s announcement comes amid heightened international efforts to decouple from monopolistic or politically unreliable supply chains for minerals deemed essential for national security and technological leadership. From tungsten to lithium and rare earth elements, the race to secure upstream sources has intensified in recent years, with governments across North America, Europe, and Asia launching funding programs, diplomatic partnerships, and domestic processing mandates.

Forums like CMF represent the operationalization of these strategies, where governments, producers, and analysts collaborate under a shared framework. The inclusion of AI-based predictive modeling further signals a new era of data-informed resource diplomacy. Almonty’s early participation grants it a seat at the policy-forming table, potentially influencing the design of future sourcing, pricing, and risk management standards for tungsten and beyond.

Final Observations on Almonty’s Strategic Positioning

Almonty’s entry into the DARPA-funded Critical Minerals Forum marks a pivotal step in its evolution from a mid-tier producer to a critical node in the West’s industrial policy on supply chain resilience. The company’s diversified asset base, conflict-free certification, and regional alignment with Western allies make it an ideal participant in strategic mineral discussions. Its engagement with CMF positions it not only as a vendor but also as a thought leader in shaping the future of critical mineral economics through AI, defense collaboration, and sustainable mining.

As supply chain transparency becomes synonymous with national security, Almonty’s profile is likely to rise further. The CMF membership offers more than a platform for collaboration—it opens up new opportunities for influence, investment, and long-term offtake partnerships in a mineral category that is quietly powering the engines of both modern warfare and clean energy transition.