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Almonty Industries Inc. has completed Phase 1 of the Sangdong Tungsten Mine in Gangwon Province, South Korea, returning to production after over 30 years. The processing plant is capable of handling 640,000 tonnes of ore annually, producing roughly 2,300 tonnes of tungsten concentrate.

Phase 2, expected to start in 2027, will increase capacity to 1.2 million tonnes of ore, raising output to about 4,600 tonnes per year. The mine is projected to supply approximately 40% of global tungsten demand outside China.

Almonty has invested over $100 million since acquiring the site in 2015, with a mine life exceeding 45 years and an average ore grade of 0.51% tungsten trioxide. A commissioning ceremony is scheduled for March 17, 2026.