Almonty produces first tungsten concentrate. Almonty Industries stock gains 3.60 percent

Published on 10/02/2026 at 16:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Sangdong's first output in 33 years starts the ramp-up. Almonty Industries stock costs EUR 12.08 on October 2, 2026 versus EUR 11.66.

Schwarz-Weiß-Reportage: Bergmann mit Helm und Stirnlampe im dunklen Minentunnel — Almonty Industries Inc dokumentiert CA0203987072 durch Bergmann mit Helm und Lampe im Minentunnel, Illustration mit AI erstellt.

Almonty Industries (ISIN CA0203987072) was trading at EUR 12.08 at Lang & Schwarz on October 2, 2026 at 4:42 p.m. CEST, up 3.60 percent versus the EUR 11.66 prior close. On September 29, Business Wire reported that Almonty had produced its first bags of tungsten concentrate at Sangdong, South Korea, ready for export.

Sangdong moves into production

The milestone ended a 33-year gap since tungsten was last produced at Sangdong. The mill was running 13 hours per day, seven days per week, while Almonty planned to increase operations to 24 hours per day, seven days per week, according to the September 29 shareholder letter.

Almonty Industries said on September 23 that the first tungsten produced at Sangdong since 1993 marked a major development milestone. The operating shift matters because the company is moving from construction and commissioning toward concentrate sales and shipment execution.

Contract coverage supports the ramp

More than 90.00 percent of Sangdong Phase I production is contracted for 21 years from first delivery. The amended offtake agreement covers 4,410,000 metric tonne units, with minimum contracted volumes of 210,000 metric tonne units per year after ramp-up, according to the company's certification release.

The production milestone follows a strong second quarter. InvestorNews reported that second-quarter 2026 revenue rose 498.00 percent year over year to CAD 43.0 million, while adjusted EBITDA improved to CAD 17.6 million from negative CAD 4.8 million a year earlier. Gross margin was 60.7 percent in that quarter.

Execution now drives valuation

Almonty's market capitalization was USD 3.9 billion on October 2, 2026, while its Nasdaq 52-week range was USD 5.43 to USD 24.41. The current story is therefore less about another construction milestone and more about whether operating hours, shipments and contracted volumes translate into repeatable cash generation.

Almonty Industries stock was trading at EUR 12.08 at Lang & Schwarz on October 2, 2026 at 4:42 p.m. CEST, plus 3.60 percent versus the Lang & Schwarz prior close of EUR 11.66 on October 1, 2026. The further course of trading is shown by the continuously updated real-time quote of Almonty Industries stock.