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Almonty Industries Inc., a leading global producer of tungsten concentrate, announced that, upon being invited to join, it has attained membership in the Critical Minerals Forum (CMF), a US Defense Advanced Research Projects Agency (DARPA)-funded not-for-profit trade association dedicated to building resilient and diversified critical minerals supply chains.
Almonty was invited to join the CMF as the main Western tungsten producer and accepted membership into this U.S. DoD-sponsored policy think tank.
The Critical Minerals Forum facilitates the collaboration needed for increased and reliable production of critical minerals by convening leading critical mineral miners, processors, and end-users across the minerals supply chain as well as investors and government institutions. In partnership with DARPA's Open Price Exploration for National Security (OPEN) initiative, CMF provides input to create and refine AI-driven analytic models that forecast cost, price, supply and demand for critical minerals. These predictions are geography-specific and customizable to real-life variables, such as geopolitical scenarios, generating transparent and probabilistic outputs. CMF enables market participants to act on these forecasts, make investment decisions, contract for offtake, and provides a clearinghouse for critical minerals supply chain projects.
Lewis Black, Chief Executive Officer of Almonty Industries, commented: “We are privileged to be a part of CMF and to leverage its AI-driven forecasts providing transparent and credible pricing, supply, and demand data for critical minerals. The geography-specific forecasts and data from CMF will empower us to make informed decisions for our tungsten production, pricing and offtake agreements.
“CMF also facilitates collaboration needed for increased and reliable production of critical minerals by convening leading companies in the supply chain, investors, and government institutions. As a member, we hope to provide a strong voice in these discussions as the key upstream supplier of tungsten oxide to the defense supply chain of the U.S. and its allies, and one of the only transparent, non-restricted, conflict-free western sources for tungsten to the United States from a friendly country. Tungsten has long been recognized as a critical mineral by the U.S. government, with key applications across aerospace, defense systems, high-performance electronics, and clean energy technologies. We look forward to meeting with the members of CMF, DARPA, the U.S. Geological Survey, and allied governments to help build resilient and diversified supply chains for critical minerals,” concluded Black.
