Tungsten concentrate produced in the U.S. would be processed into a powder and then into a carbide and other tungsten-bearing alloys. Photo by Peter J. Thompson/National Post/Postmedia files

Almonty Industries Inc. agreed to buy a tungsten project in Montana, with plans to quickly turn it into the first United States mine in a decade to produce a metal used in weapons and semiconductors.

The Toronto-based firm is acquiring the project formerly operated by Union Carbide Corp., paying with stock and some cash, it said Monday without giving details.

Subject to obtaining an extraction permit, Almonty could restart mining there as soon as late next year using reconditioned equipment from its facilities in Spain. Water rights and pipes are already in place.

Almonty is joining the U

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