Rwanda, Almonty Industries for critical tungsten venture

Rwanda and Toronto-based Almonty Industries have signed an agreement to establish a joint venture focused on the exploration, processing and development of tungsten resources, strengthening the East African country’s position in the global critical minerals supply chain.

Under the agreement, Rwanda will hold a 25% stake in Almonty Rwanda Pty Ltd, while Almonty will retain 75%. Rwanda’s contribution includes the Shyorongi tungsten exploration concession and a mineral processing licence.

The partnership was introduced through the US Department of State and aligns with the 2025 US-Rwanda Framework for Shared Economic Prosperity, reflecting growing Western efforts to diversify critical mineral supply chains and reduce dependence on China.

Rwanda’s strategic importance in the tungsten market is underscored by its position as the only African country among the world’s top 10 tungsten producers, according to the US Geological Survey.

The joint venture will initially source ore, pre-concentrate and tailings from existing licence holders, including small-scale miners, for export or further upgrading. The development plan will subsequently advance towards the establishment of a centralised processing facility.

As part of the phased approach, the partners plan to deploy a mobile tailings-processing unit while undertaking exploration activities across the 32-square-kilometre Shyorongi concession.

The agreement comes as global demand grows for traceable and responsibly sourced critical minerals, particularly amid changing defence and industrial procurement requirements. New US defence procurement rules expected to take effect in January 2027 will require tungsten used in certain military supply chains to be fully traceable to its source.

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The regulatory shift is expected to increase demand for verified and conflict-free mineral supply chains while creating opportunities for African producers capable of meeting stringent traceability, governance and compliance standards.

The Rwanda-Almonty partnership also forms part of a wider expansion of US economic engagement across Africa’s critical minerals sector. Washington has been strengthening mineral partnerships with countries including the Democratic Republic of Congo, Rwanda, Guinea and Kenya as it seeks to diversify strategic industrial and defence supply chains.

For Africa’s mining, procurement and supply-chain sectors, the venture signals an emerging shift in the architecture of global commodity markets, where traceability, regulatory compliance, responsible sourcing and geopolitical alignment are becoming increasingly important factors in determining access to international markets.

Lewis Black, Chairman, President and Chief Executive Officer of Almonty, said: “The most immediate opportunity here is the material that is already being produced. Rwanda’s small-scale license holders are producing ore, pre-concentrate and panning tailings today, and this agreement allows us to collect, upgrade and export that material while we build out the collection and processing plant. We are combining that existing production base with modern processing, traceability and our own exploration program, with the Government of Rwanda participating alongside us as an equity partner.”

Alice Uwase, Chief Executive Officer of the Rwanda Mining Board, said: “Rwanda is pleased to welcome Almonty as a strategic partner in the development of our tungsten industry. This investment will help to transform our mining sector by introducing world-class processing infrastructure, international standards for environmental and social governance, and a comprehensive training program to develop Rwandan talent.”

The Rwanda-Almonty project could therefore position Rwanda to capture greater value from its tungsten resources while providing a potential model for African mineral-producing countries seeking to participate more strategically in emerging global critical-minerals supply chains.