Core Viewpoint - Almonty Industries Inc. is experiencing significant stock performance due to the imminent start of commercial operations at its Sangdong Tungsten Mine in South Korea, which is crucial for diversifying the tungsten supply chain away from China [1][3]. Group 1: Company Developments - Almonty Industries' stock rose by 6.64% to close at $8.35 as investors anticipate the start of commercial operations at its mine [1]. - The company has successfully delivered its first truckload of ore to the Run-of-Mine pad at the Sangdong Tungsten Mine, marking a critical step before official commercial operations begin [2]. - The first ore placement is seen as a strategic inflection point for Almonty, aiming to strengthen the global tungsten supply chain and reduce reliance on China, which currently supplies over 80% of the world's tungsten [3]. Group 2: Strategic Importance - The resumption of production at the Sangdong Mine is essential for securing a reliable, non-China tungsten supply for key sectors, including defense, semiconductors, AI hardware, and aerospace [4]. - Almonty acquired the Sangdong mine after the US halted its mining operations in 2015 and has since focused on bringing the site back into production [4]. - Preparatory works such as geological assessments, ground stabilization, load testing, and equipment installation have been completed to advance the project [5].
Almonty Industries (ALM) Rallies 6.6% as Firm Nears Commercial Ops in Korea Mine