With tungsten mining operations spanning back for more than 120 years, Almonty’s Panasqueira Mine in Central Portugal has always been of considerable interest to resource experts, miners, investors, shareholders and other interested parties around the globe.
Almonty Industries Inc. announces that KfW IPEX-Bank has received the preliminary export credit cover from the Oesterreichische Kontrollbank AG (“OeKB”) for its project financing of the Sangdong Tungsten Mine
Almonty Industries Inc. is pleased to announce that it has now received notification that the preliminary ECA cover has been issued by OeKB which is underpinning the recently announced binding commitment for the project finance loan of US$76,000,000 from KfW IPEX-Bank.
“Set to make a New Miracle with Sangdong Tungsten”, said by Mr. KIM Yong-woo, Representative of Almonty Korea Tungsten
Mr. KIM Yong-woo, a representative of Almonty Korea Tungsten has stated that they are “Set to make a New Miracle with Sangdong Tungsten”, with secured development funding, full-scale development in April 2020, and commencement of production in April 2022.
Almonty Korea Tungsten, 30 January 2020 – The County Congressmen of Yeongwol County, Korea visits Almonty’s Panasqueira Mine in Portugal.
Almonty Industries Inc. Announces Receipt Of Binding Commitment For US$76 Million Sangdong Mine Project Financing
Almonty Industries Inc. is pleased to announce that it has received a Binding Commitment Letter for US$76,000,000 from KfW IPEX–Bank GmbH for the proposed project financing for the development and operation of Almonty’s Sangdong Mine in South Korea.
알몬티인더스트리는 국내 알몬티 상동광산의 개발 및 운영을 위한 프로젝트 파이낸싱(KfW IPEX-Bank GmbH)에 대해 KfW IPEX-Bank GmbH로부터 US$76M에 대한 구속력 있는 위임장을 받았다고 발표하게 되어 기쁘다.
Following a series of assessments; site visits; & environmental studies & analysis, OeKB has selected the Tungsten Mine in Sangdong as a Category A project. This means it may shortly receive an officially supported export guarantee.
Almonty Korea Tungsten – Participates in the Graduation Ceremony of Gurae Elementary School (Jan 08, 2020) and Sangdong Middle/High School (Jan 09, 2020).
Almonty Korea Tungsten – OeKB and KFW Bank visited our Sangdong Mine between the 13th and the14th of November 2019 followed by meetings with Mayor, Congressmen, Bureau Chiefs of County Government, Community Representatives as well as Faculty Members of Elementary, Middle & High School of the Sangdong Town.
OeKB And KFW Bank pay a visit to the Panasqueira Mine site in Portugal between the 23rd and the 25th October 2019.
Los Santos & Valtreixal Projects
Almonty Industries Inc. engages in the mining, processing, and shipping of tungsten concentrate. The company owns interests in the Los Santos mine located near Salamanca, Spain; the Panasqueira tin and tungsten mine situated in Covilha and Castelo Branco, Portugal; and the Sangdong tungsten mine situated in Gangwon Province, Republic of Korea; and the Valtre Valtreixal tin and tungsten project located in Zamora province, Western Spain. Almonty Industries Inc. is headquartered in Toronto, Canada.
Industry: Other Industrial Metals & Mining
Sector: Basic Materials
Phone: +1 (647) 438-9766