Almonty Reaches Key Milestone with Commencement of Mining Operations

Almonty CA0203981034

Almonty Industries Inc. has initiated active mining at its flagship Sangdong tungsten project in South Korea, marking a pivotal operational transition from construction to the ramp-up phase. This critical step moves the company closer to achieving full-scale commercial production, with market attention now focused on the timeline for Phase 1 to reach steady-state operations.

The commencement at Sangdong occurs against a backdrop of significant change in the global tungsten market. China currently dominates worldwide supply, while demand from sectors including defense, aerospace, and electric mobility continues to rise. This dynamic elevates the strategic importance of new, non-Chinese sources of the critical metal.

Positioned to become one of the largest tungsten mines outside of China, the Sangdong project is expected to contribute to a stable, long-term supply for the United States and its allies. The move from development to active extraction is therefore a closely watched event for industry participants and investors.

Operational Progress and Timeline

A tangible sign of advancement was the delivery of the first truckload of ore to the run-of-mine pad. This material is now being prepared for subsequent processing stages, which include crushing, milling, and concentration.

The company's immediate focus is advancing Phase 1 toward large-scale commercial production throughout 2026. Looking further ahead, plans outlined in January target the completion of a Phase 2 expansion by 2027.

Key Developments:
* Active extraction is now underway at the Sangdong mine.
* Initial ore has been delivered to the processing circuit's run-of-mine facility.
* The objective for 2026 is to progress Phase 1 toward full operational capacity.
* A second expansion phase is scheduled for completion in 2027.

Parallel Development Projects

Alongside the Sangdong ramp-up, Almonty is advancing other strategic assets. In Montana, USA, development continues at the Gentung Browns Lake Tungsten Project, with a goal of achieving production readiness in the second half of 2026. Work also remains ongoing at the company's Panasqueira mine in Portugal.

The outlined schedule provides a clear roadmap: 2026 will be defined by the operational ramp-up of Sangdong's Phase 1, while the subsequent year is slated for the project's planned expansion.