About Almonty Industries

Almonty specializes in acquiring distressed and underperforming operations and assets in tungsten markets. These then benefit from the company’s in-house operational experience and unrivalled expertise in the tungsten market.

Highly regarded as a hands-on, turnaround investor-operator, Almonty is an expert at overseeing projects regarded as too complex or difficult for the average, pure ‘financial investor’.

To date, the results of its acquisitions have been fast and very profitable turnarounds. Almonty is actively pursuing other growth opportunities via acquisitions where it can apply its tungsten expertise to create additional value for all stakeholders.

Research as a Service (RaaS) Report – Almonty Industries (Aug 2021)

Research as a Service (RaaS) Update – Almonty Industries (Nov 2021)

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The ‘International Investment Forum’ – (‘IIF’) is an online event and provides information on investment trends and ideas, covering all aspects of various industries, from top executives around the world.

Almonty Industries’ CEO and President – Lewis Black presents for the online 2021 forum in the following video.


Almonty has completed its second optimization, at its Los Santos mine in northern Spain. Almonty acquired the project in September 2011 and has been focused on utilizing its expertise in order to improve operations, reduce costs and raise the tungsten recovery rate.

To date Almonty has achieved an approximate 50% recovery rate of WO3 from its tailings retreatment as a result of continuing tests and trials, a substantial improvement from the 35-40% recovery rate attained in the initial stage of tailings retreatment.This has been a very successful project, with the company enhancing the production profile of the milling operations and extending the mine life to more than nine years. In turn, Almonty has reduced cash operating costs by over 35% and has significantly increased cash flow from its operations.

Almonty continues to improve and increase its knowledge in the area of tailings reprocessing which further demonstrates our commitment to invest in tungsten technologies which is paramount to remaining competitive.


Almonty, through its wholly-owned subsidiary, Woulfe Mining Corp, owns a 100% interest in the Almonty Korea Tungsten Project (AKT) located in South Korea. 

The Almonty Korea Tungsten deposit (Sangdong Mine) hosts one of the largest tungsten resources in the world. AKT was the leading global tungsten producer for more than 40 years and it has the potential to produce 50% of the world’s Tungsten supply (ex-China output). Almonty’s Sangdong Mine Project is becoming a hot topic for resource experts, miners, investors, shareholders and other interested parties around the globe. Almonty recently completed its Pilot Plant at Sangdong Mine and site construction of production facilities is underway. Almonty’s commitment to economic and community development will surely contribute to guiding the “Pride of Korea” back on track.


Almonty Korea Moly (AKM) is a large molybdenite-quartz vein stockwork deposit in the Sangdong area and close to the Sangdong tungsten project of AKT. Reserve estimations shows a higher grade zone of 16 M tonnes grading 0.4% MoS2 or a global resource of 120 Mt grading 0.13% MoS2.

Due to the size of this deposit further exploration will be conducted and it is potentially a viable deposit that can share mining and processing infrastructures with the Almonty Korea Tungsten project.


Almonty Industries Inc. currently owns 100% of the Valtreixal Sn-WO3 project in North Western Spain (approximately 250km from its Los Santos tungsten project).  Almonty acquired the project from SIEMCALSA, the same group that were involved in the historical development of the Los Santos Mine.

Almonty is pursuing other growth opportunities via acquisitions, where it can apply its knowledge and strength in depth to create additional value for all stakeholders. The company’s focus remains on past producing mines, operations that are on care and maintenance, tailings stockpiles and other situations where near-term production and positive cash flow can be achieved.


Almonty, through its indirect wholly-owned subsidiary, Beralt Tin and Wolfram (Portugal) SA (“Beralt”), owns a 100% interest in the Panasqueira Tin Tungsten mine located in Covilhã (Village of Panasqueira), Portugal.

To date, a second tailings dam at Panasqueira has been completed which will enable Panasqueira to process and store tailings for another 6 years at the rate of 800,000 ton mining per annum. In addition to the application of stringent safety standards in the engineering, the new tailings dam is designed for the second phase expansion for an additional 4 years by placing a surrounding 10 meter height retaining wall. A further phase three is now planned to increase capacity by a further 10 years. Thus, a total of 20 years additional capacity is anticipated after the completion of all three phases.

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