Under the agreement, the government will receive a 25% stake in Almonty Rwanda Pty Ltd in exchange for contributing the Shyorongi tungsten exploration concession and a mineral processing licence, while Almonty will hold the remaining 75%.
The Shyorongi exploration block covers approximately 32 square kilometres in Rulindo District, Northern Province.
The partnership will initially allow Almonty Rwanda to acquire ore, pre-concentrate and panning tailings from Rwandan mining licence holders, including small-scale operators, for upgrading and sale. The company also plans to use a mobile processing unit near existing tailings dams before establishing a collection and processing plant in Rwanda.
Almonty Chairman, President and CEO Lewis Black said the arrangement would allow the company to work with material already being produced in Rwanda.
'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,' he said.
Black said the company would combine Rwanda's existing production with modern processing, traceability and exploration.
Rwanda Mining Board CEO Alice Uwase said the partnership would contribute to the transformation of the country's tungsten industry.
'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,' she said.
Almonty Industries is an international company focused on the mining, processing and trading of tungsten. It is particularly known for taking over underperforming mines or mining projects and upgrading them to improve their operations. The company has projects in South Korea, Portugal and Spain.
Almonty was previously headquartered in Toronto, Canada, but relocated its headquarters to Dillon, United States, in April 2026.
The company is also listed on the Nasdaq stock exchange, one of the world's major financial markets.
Tungsten is a mineral used to produce hard metals for applications in construction, aircraft, tanks, spacecraft, firearms and ammunition.
The Rwanda Mines, Petroleum and Gas Board (RMB) indicates that Rwanda exports at least 24 tonnes of tungsten every week.
Tungsten is one of the minerals found in significant quantities in Rwanda. The country has a geological zone known as the Tungsten Belt, which stretches from Mageragere in Kigali City through Rulindo and continues to Gifurwe and Bugarama in Burera District.
Source : https://new.igihe.com/english/rwanda-almonty-partner-on-tungsten-exploration-and-processing/
