Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 69

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 69
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 five years in 2023 to protect domestic industry (European
Commission, “Commission Implementing Regulation (EU) 2023/1618 of 8 August 2023, imposing a definitive anti-dumping duty on imports of tungsten carbide, fused tungsten carbide, and tungsten carbide simply mixed with metallic powder originating in the People’s Republic of China”, Official Journal of the European Union, L 199/48, 9 August 2023).

Additional policy
measures further support the drive for independent supply chains. In March 2025, the White House issued an executive order to accelerate
U.S. mineral production by fast-tracking permitting processes, reducing regulatory barriers, and expanding financing programs (The White
House, “Executive Order on Immediate Measures to Increase American Mineral Production”, March 20, 2025). This was
followed by a further executive order under Section 232 of the Trade Expansion Act in April 2025, directing federal agencies to assess
vulnerabilities in critical mineral supply chains, reduce reliance on foreign adversaries, and strengthen domestic production capacities
(The White House, “Fact Sheet: President Donald J. Trump Ensures National Security and Economic Resilience Through Section 232 Actions on Processed Critical Minerals and Derivative Products”, April 15, 2025).

At the international
level, NATO published its Defence-Critical Supply Chain Security Roadmap in December 2024, identifying tungsten as a high supply risk
material essential for several military applications, including fighter aircraft, battle tanks, missiles, and submarines (The White House,
“Executive Order on Ensuring National Security and Economic Resilience Through Section 232 Actions on Processed Critical Minerals and Derivative Products”, April 15, 2025). NATO’s designation further underscores the strategic significance of securing
stable and reliable tungsten supplies to support allied defense capabilities.

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Tungsten was formally
included in the 2025 edition of the Global Critical Minerals Outlook (International Energy Agency (IEA) “ Global Critical Minerals Outlook 2025, May 2025”), recognizing its growing strategic and economic importance to industrialized economies. The report
highlights tungsten as one of the top 20 minerals most exposed to supply risks, noting its concentration of production and limited number
of processing facilities outside of China. Tungsten’s essential role in defense, aerospace, energy, and industrial tooling applications
was a key factor in its classification. Its listing underscores increasing global efforts to secure