Almonty Industries Inc. Achieves Key Milestone with Sangdong Project

Almonty Industries Inc. has reached a significant milestone with the Sangdong project in South Korea, moving from a construction phase to production as of July 2026. This shift reduces the initial risks and positions Almonty as a major non-Chinese tungsten supplier.

The global market conditions remain supportive, with APT prices significantly higher than those at the beginning of 2025. China's dominance in tungsten supply still stands, making Sangdong strategically important for allied supply chains.

Almonty's commercial prospects have improved with a revised agreement with Global Tungsten & Powders extending the contract term and increasing volumes. Revenue projections include US$365.9m in 2026, rising to US$1.49bn in 2028, driven by strong tungsten pricing and Sangdong's production scale.