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Almonty Industries Completes Phase 1 of Sangdong Tungsten Mine in South Korea
Sangdong Returns to Production After More Than 30 Years, Designed to Supply Approximately 40% of Western Tungsten Demand at Full Capacity TORONTO / Mar 16, 2026
About this update from Almonty Industries Inc.
[{"type":"text","content":"Sangdong Returns to Production After More Than 30 Years, Designed to Supply Approximately 40% of Western Tungsten Demand at Full Capacity TORONTO / Mar 16, 2026 / Business Wire / Almonty Industries Inc. (“Almonty” or the “Company”) (NASDAQ: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1), a leading global producer of tungsten concentrate, today announced the completion of Phase 1 commissioning at its Sangdong Tungsten Mine in Gangwon Province, South Korea –marking the return to production after more than 30 years. Phase 1 of the Sangdong Mine is now commissioned and producing, with the processing plant designed to handle approximately 640,000 tonnes of ore annually, yielding roughly 2,300 tonnes of tungsten concentrate per year. A planned Phase 2 expansion, expected to come online in 2027, is designed to increase processing capacity to approximately 1.2 million tonnes of ore annually, doubling tungsten output to roughly 4,600 tonnes per year. At full capacity, Sangdong is expected to supply ~40% of global tungsten demand outside China. On March 17, 2026, at 10:00 a.m. local South Korean time, Lewis Black, President and CEO of Almonty, will host a formal commissioning ceremony at the Company’s Sangdong Tungsten Mine marking the completion of development and the transition of the project toward commercial operation. The Company is expecting the ceremony to be attended by over 200 political figures from all branches of the South Korean Government as well as various representatives from the U.S. embassy in Seoul. The Sangdong Mine was historically one of the world’s largest tungsten producers before operations were suspended in the early 1990s following a prolonged downturn in commodity prices. Since acquiring the project in 2015, Almonty has invested more than $100 million to redevelop the site as a modern underground mining operation with a newly constructed processing plant. The redevelopment includes approximately four kilometers of underground tunnel development, a mineral processing plant equipped with SAG and ball mills supplied by Metso, and advanced operational monitoring systems. Sangdong has an expected mine life exceeding 45 years and an average ore grade of approximately 0.51% tungsten trioxide (WO₃), roughly three times the global average. The project was developed in accordance with the Equator Principles and is located ...