Almonty Industries Stock Surges on Supply Shock and Strategic Mine Launch

Almonty Industries' stock surges over 2000% as China slashes tungsten exports and its flagship Sangdong mine begins production, attracting major institutional investors.

A severe and unexpected tightening in the global tungsten supply is propelling the shares of Canadian mining firm Almonty Industries to unprecedented levels. The company is bringing one of the largest tungsten mines outside of China into production at a critical moment, as the dominant market player drastically curtails exports. This powerful alignment of macroeconomic forces and operational execution is now attracting significant institutional investment.

The fundamental reassessment of Almonty is dramatically illustrated in its share price performance. Over a single year, the stock has soared from one dollar to a recent high of US$21.18. This surge is driven by a structural deficit in tungsten, a critical material for advanced semiconductors and defense applications. Historically controlling up to 80% of global supply, China substantially tightened its export quotas in late 2025. According to BMO Capital Markets, Chinese shipments temporarily ground to a complete halt. Consequently, the tungsten price skyrocketed by over 160% last year and is currently quoted above US$1,000 per metric ton unit (MTU).

A Major New Source Comes Online

Almonty is positioned to directly address this supply gap with its flagship project. The Sangdong mine, located in South Korea's Gangwon province, officially commenced production in December 2025. The recent departure of the first truckload of ore from the site marked the beginning of active mining operations. With reserves of 7.9 million tonnes, the deposit is considered one of the world's most significant tungsten resources. The facility is projected to reach full capacity by 2027 and, through a second expansion phase, could deliver up to 1.2 million tonnes annually.

This transformed landscape is clearly visible in the company's shareholder base. The number of invested funds increased by over 55% last quarter, reaching 107. Market analysts are also rapidly adjusting their models to reflect the new reality:

• Van Eck Associates: Expanded its position by over 13,000% to 11.24 million shares (approximate value: US$99 million).
• DA Davidson: Raised its price target from US$18.00 to US$25.00 while maintaining a Buy recommendation.
• Couloir Capital: Increased its fair value estimate for the stock to C$19.30.

Broader Growth Pipeline Advances

Alongside the ramp-up in South Korea, management is advancing a broader growth strategy. This includes a planned capacity expansion at the Panasqueira mine in Portugal and development of the Gentung Browns Lake project in the United States. The latter could be ready for production as early as the second half of 2026.

The next crucial milestone for Almonty arrives in just under two weeks. On March 26, 2026, the company will release its quarterly financial results. This report will provide the first concrete financial data reflecting the dual impact of historically high tungsten prices and the initial output from the Sangdong mine on its balance sheet.