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 operating experience and unrivalled expertise.

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. The company has completed its second turnaround and gone on to purchase its next project.


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. 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 significantly increased cash flow from operations.


Almonty completed the acquisition of the Woulfe Mining Corp in September 2015 for $30 million in equity plus assumed debt. The company issued 37,755,928 common shares at an implied value of $0.79 per share over a series of two separate transactions. Almonty believes that there is significant upside potential at Almonty Korea Tungsten that could see production from the proposed mine eclipse that of Almonty’s existing operations.


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 but it is potentially a viable deposit that can share mining and processing infrastructures with the Almonty Korea Tungsten project.


Following the optimization at Los Santos, Almonty purchased its next tungsten project – Valtreixal – located in northwestern Spain. The company intends to apply its tungsten expertise to make Valtreixal another Almonty success story. Watch this space for more exciting news!

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 completed the acquisition of the Panasqueira Tin Tungsten Mine from Sojitz Corporation in January 2016 for €1.5 (€1.0 million cash plus the issuance of €0.5 million 2-year note) plus assumed contingent liabilities. Certain members of Almonty’s Management and Board were the controlling shareholders of Primary Metal s Inc.(“PMI”), a former TSX-V listed entity that owned the Panasqueira mine prior to the acquisition of PMI by Sojitz Corporation in 2007.