AII
Live News • Jul 16
Almonty Industries Locks In $490 Million Sangdong Tungsten Offtake Over 21 Years Almonty Industries has amended and expanded its tungsten concentrate offtake agreement with Global Tungsten & Powders LLC, extending the term from 15 to 21 years, increasing contracted volumes by 40%, and taking total contracted revenue to US$490 million at current APT pricing.
The deal includes roughly 6.3% higher pricing on all Sangdong Mine concentrate and is described as a key milestone for Phase I production, while also securing a long-term, conflict-free supply of tungsten for U.S. defense and industrial customers.
Almonty Industries shares last traded at CA$19.68, with the stock down 36.9% over the past 90 days.
The extended offtake provides Almonty with long-duration revenue visibility but also ties a large portion of future Sangdong output to a single buyer, so concentration risk and contract execution will be important to monitor. Recent Insider Transactions • Jul 06
Independent Lead Director recently sold CA$4.8m worth of stock On the 2nd of July, Mark Trachuk sold around 200k shares on-market at roughly CA$24.07 per share. This transaction amounted to 7.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$8.9m more than they bought in the last 12 months. Announcement • Jul 01
Almonty Industries Commences Processing Operations At Sangdong Mine Marking Transition to Saleable Tungsten Concentrate Production Almonty Industries Inc. announced the commencement of processing plant throughput operations at its Sangdong Mine in Gangwon Province, South Korea. During June 2026, the Company began feeding stockpiled run-of-mine ore through its newly commissioned processing plant to produce saleable tungsten concentrate — a pivotal milestone marking Sangdong’s transition from mine development into active, revenue-generating operations. Almonty exited the first quarter of 2026 with approximately 120,000 tonnes of ore stockpiled at an average grade of 0.24% tungsten trioxide (“WO3”). During the second quarter of 2026, the Company mined an additional approximately 19,700 tonnes of development ore at an average grade of 0.35% WO3, while advancing 214.6 meters of underground development, primarily along the Main Vein. Together, this brings total stockpiled ore to approximately 139,700 tonnes at a blended grade of approximately 0.25% WO3 ahead of the plant’s commissioning. They are utilizing lower-grade throughput during the initial ramp-up phase and anticipate higher grades as the process advances, with Sangdong's low-grade ore approximately three times higher than that of their Panasqueira mine in Portugal. With throughput now underway, stockpiled ore is being introduced during the initial commissioning phase to optimize ore blending and maintain the consistent feed quality the plant requires as the operation ramps up. The Sangdong Mine processing plant is designed to upgrade run-of-mine ore into a high-purity tungsten concentrate. At prevailing tungsten prices, the contained tungsten in the current stockpile represents approximately 2.6 months of Phase I throughput feed with an illustrative gross in-process value of approximately USD 68 million. 
