Almonty Industries confirms its tungsten is excluded from US reciprocal tariffs
April 9, 2025
Almonty Industries Inc., headquartered in Toronto, Canada, has confirmed that based on current information, its operations and product exports are not affected by the recent Executive Order issued by the United States government regarding reciprocal tariffs on select imports.
The Executive Order, published on April 2, 2025, outlines new tariff measures targeting specific Harmonized Tariff Schedule (HTS) codes. Following a detailed review of Annex I and Annex II of the order titled ‘Regulating Imports with a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and Persistent Annual United States Goods Trade Deficits’, the company can confirm that Almonty’s tungsten ore, concentrates, oxide, and related materials are not subject to the newly imposed tariffs. These products, including those classified under HTS codes 2611.00.30, 2611.00.60, and 2825.90.30, are explicitly excluded from the action, as listed in Annex II.
The confirmation not only ensures the continued stability of Almonty’s trade flows but also highlights the company’s role in supporting a secure and diversified supply chain to the United States. It underscores the strategic importance of tungsten, particularly in advancing US interests in national defence, critical manufacturing, and supply chain resilience. Tungsten has long been recognised as a critical mineral by the US government, with key applications across aerospace, defence systems, high-performance electronics, and clean energy technologies.
Almonty remains firmly committed to developing and maintaining a reliable, western-based supply chain for tungsten, working in close collaboration with its partners and stakeholders to meet the growing demand for secure and sustainable access to critical minerals for the US and its allies.
Lewis Black, President & CEO of Almonty, commented, “We are thrilled with this confirmation, which reinforces Almonty’s position as a key player in the global tungsten supply chain. The explicit exclusion of our products from the new tariff measures highlights the strategic importance of tungsten in supporting the national security, industrial independence, and resilient supply chains of American industry. Almonty has been a consistent supplier of tungsten materials to the United States for many years, and we are proud to hold a long-term offtake agreement with Global Tungsten & Powders (GTP), a leading US processor headquartered in Pennsylvania.”
“This relationship further solidifies our role in strengthening domestic supply chains at a time when reducing dependence on Chinese-sourced critical minerals has become a top priority for Western governments. As we advance our fully integrated mine-to-processing operations, Almonty is on track to become one of the most important vertically integrated tungsten producers in the Western world, positioned to supply a significant portion of non-China sourced tungsten. We remain fully committed to supporting allied economies in securing long-term, stable access to this essential critical mineral, and look forward to deepening our partnerships across the defence, semiconductor, and high-tech manufacturing sectors,” Black continued.
The Executive Order can be read in full here.
