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Almonty Industries Inc. has started active mining at the Sangdong Tungsten Mine in South Korea, delivering the first truckload of ore in December 2025. The mine is projected to be one of the largest tungsten mines outside China.

Tungsten prices rose over 160% in 2025 due to China's export restrictions and increased demand. Almonty has secured offtake agreements for U.S. defense applications and aims for full commercial operations in 2026, with a Phase II expansion by 2027.

The company also acquired the Gentung Browns Lake Tungsten Project in Montana, targeting production readiness by late 2026. Almonty operates the Panasqueira Mine in Portugal and has a strong financial position with recent public offerings raising approximately $219.4 million.