- Almonty Industries Inc. (AII) has filed an updated NI 43-101 Technical Report for its Sangdong Tungsten Mine.
- The Sangdong Mine is expected to begin production in the second half of 2025 with a targeted capacity of 640,000 tons per year.
- An expansion to increase throughput capacity to 1.2 million tons is planned for 2026, contingent on positive Phase I results.
Almonty Industries Inc. (TSX: AII) announces the filing of an updated NI 43-101 Technical Report for its Sangdong Tungsten Mine in South Korea. The report, authored by independent expert Adam Wheeler, is designed to enhance public disclosure of the project's developments, including mine development advancements. This filing is not obligatory under NI 43-101 but was voluntarily prepared to update the company's previous technical report from 2016.
The Sangdong Mine's Phase I construction is set to commence operations by the second half of 2025, targeting an ore throughput capacity of approximately 640,000 tons annually. Furthermore, Almonty plans a Phase II expansion to boost throughput to 1.2 million tons, leveraging existing Phase I approvals. Phase II, which could commence as early as 2026, aims to unlock economies of scale and bolster margins, contingent on favorable operating results and market conditions.
Almonty, a global leader in tungsten concentrate production, reassesses its portfolio, concluding the Sangdong Mine as the only material project. This strategic focus underscores the project's anticipated economic significance, with other operations in Portugal and the Sangdong Molybdenum Project in South Korea continuing alongside.
For further details, stakeholders are encouraged to review the comprehensive Technical Report available on SEDAR+ and Almonty's website.
