Sustainability in Mining – Beralt Tin and Wolfram (Portugal)

Last Updated, October 2, 2020
Written by Lewis Black

Written by Lewis Black

Home » Market Announcements » Sustainability in Mining – Beralt Tin and Wolfram (Portugal)

Toronto – October 02, 2020 – Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / OTCQX: ALMTF / Frankfurt: 1MR)

At Beralt Tin and Wolfram (Portugal), S.A. (BTW) we are committed to embrace every single one of the 17 UN Sustainable Development Goals, connected to our activity and stakeholders.

As an operator in a European country, with very restricted legal framework, both communitarian and national, we have to comply with the most exigent regulations worldwide in terms of operation governance, environmental impact, social impact, energy efficiency and climate change.

The Panasqueira Mine operates under an environmental license within the scope of mining waste. In the document, all major parameters are considered, and monitoring and compulsory reports are determined. That includes: Energy, Water, Waste (mining and industrial), Noise, Air Emissions and Raw Materials and Products used.

Being located in a low density population area, most of the people are somehow related to the company and economically benefiting with it, as workers, worker’s families, small suppliers, etc.

NO POVERTY
The company has straight relation with local authorities and associations, providing financing and donations to several events in different areas. Although is not a wealthy population area, there are no known cases of severe poverty.
ZERO HUNGER
The company provides daily feeding fund for all workers, many times providing, when required, monetary help during the ongoing month as cash advance or others. No cases of hunger are known among workers or local community.
GOOD HEALTH & WELL-BEING
With a Health and Safety department, the company provides medical care for all workers, including systematic monitoring and follow up by check-up’s. The medical facilities are also available to local community for small treatments, vaccines or light medical screenings. The Safety Team is focused on preventing accidents and professional injuries.
QUALITY EDUCATION
The company provides initial training and complementary education courses in several areas, mainly safety but also technical specific areas. Every worker has the right to 40 hours of training or professional qualification per year.
GENDER EQUALITY
The company complies with European legal framework in this matter, giving equal opportunities to access for a new job and promoting equal opportunities for career progress and retributions. Also under the legal framework, the company has internal special dedicated procedure for harassment in any form.
CLEAN WATER & SANITATION
(Non Applicable. The mining site and region are served with these basic services.)
AFFORDABLE & CLEAN ENERGY
As an intensive consumer of energy, the company is requested to submit 8-year plans for energy efficiency, proposing measures to reduce consumption of electricity and diesel. From replacing old equipment for more efficient ones, to substitution of road transport for conveyor belts, and a solar photovoltaic installation project, everything is considered and implemented.
DECENT WORK & ECONOMIC GROWTH
The national and European legal framework in what the company operates regarding labor is very protective about workers and work conditions. The entry remuneration level at the company is 2.6% above minimum wage at the surface positions and 27% above minimum wage at the mine. The company workers are represented in labor negotiations by a local union affiliated of a national one. Workers are also called to intervene in all relevant issues concerning Health and Safety and other relevant issues related to work and community.
INDUSTRY, INNOVATION & INFRASTRUCTURE
With more than 100 years of ongoing activity, BTW is itself a case study of resilience, constant innovation and adaptive capacity. Introducing and promoting new technologies as well as adopting best available techniques is the key to such long mining activity, based on a world class mineral deposit.
REDUCED INEQUALITIES
(Non Applicable as Inequalities among countries.)
SUSTAINABLE CITIES & COMMUNITIES
(Not Applicable as it depends on government or municipal regulations.)
RESPONSIBLE CONSUMPTION & CONSTRUCTION
Company focus on health and safety of all workers promotes productivity, contributing for risk prevention culture and healthier life style.
CLIMATE ACTION
Efficient use of energy, with reducing targets in electricity and diesel, is an ongoing practice.
LIFE BELOW WATER
Among the facilities at the mine site, there is a state of the art water treatment plant. All the water from the mine, plant and surface spillages is treated in closed circuit and only excess is released to the river. In place there is a monitoring program with more than 10 points where monthly water samples are collected and analyzed by external and certified laboratory. The results are reported to the authorities. Collecting points are distributed from upstream of the treated water discharge up to 10 kilometers downstream, in the main river.
LIFE ON LAND
As an underground mine with more than 100 years of ongoing activity, the impact on biodiversity is stabilized. Mining waste and tailings are properly managed, with rigorous controls and monitoring. Major known spillages are conducted to water treatment plant. All parameters are sampled and analyzed and the company reports to the authorities, within the determined schedule.
PEACE, JUSTICE & STRONG INSTITUTIONS
(Not Applicable as it depends on government regulations.)
PARTNERSHIPS FOR THE GOALS
At local and regional level, the company works closely with authorities and associations in many different areas. Mainly regarding health and safety, but also in international projects for tailings recovering or reuse (REMINE, ERA-MIN, BIOCritical Metals, etc.), mine closure and rehabilitation, water treatment, and others. The Mine Closure Plan, revised every 5 years, is a process where all stakeholders are invited and allowed to propose their interest to be discussed and, eventually, considered.

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Almonty Receives Further and Final Commitments Under Previously Announced Placement

Almonty Receives Further and Final Commitments Under Previously Announced Placement

Almonty is pleased to announce that in conjunction with its March 2024 Placement, the Company has closed a fourth tranche through the sale of the previously-announced firm commitment of 3,000,000 Placement Chess Depository Interests Units (“CDIs”) at A$0.62 per unit and is scheduled to close on an additional 1,090,909 common share units at Cdn$0.55 per unit on May 23, 2024.

About Almonty

The principal business of Toronto, Canada-based Almonty Industries Inc. is the mining, processing and shipping of tungsten concentrate from its Los Santos Mine in western Spain and its Panasqueira mine in Portugal as well as the development of its Sangdong tungsten mine in Gangwon Province, South Korea and the development of the Valtreixal tin/tungsten project in north western Spain.

The Los Santos Mine was acquired by Almonty in September 2011 and is located approximately 50 kilometres from Salamanca in western Spain and produces tungsten concentrate. The Panasqueira mine, which has been in production since 1896, is located approximately 260 kilometres northeast of Lisbon, Portugal, was acquired in January 2016 and produces tungsten concentrate.

The Sangdong mine, which was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, was acquired in September 2015 through the acquisition of a 100% interest in Woulfe Mining Corp.

Almonty owns 100% of the Valtreixal tin-tungsten project in north-western Spain.

Further information about Almonty’s activities may be found at www.almonty.com and under Almonty’s profile at www.sedar.com.

Legal Notice
The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Statements
When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. These statements and information are based on management’s beliefs, estimates and opinions on the date that statements are made and reflect Almonty’s current expectations.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Almonty to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: any specific risks relating to fluctuations in the price of ammonium para tungstate (“APT”) from which the sale price of Almonty’s tungsten concentrate is derived, actual results of mining and exploration activities, environmental, economic and political risks of the jurisdictions in which Almonty’s operations are located and changes in project parameters as plans continue to be refined, forecasts and assessments relating to Almonty’s business, credit and liquidity risks, hedging risk, competition in the mining industry, risks related to the market price of Almonty’s shares, the ability of Almonty to retain key management employees or procure the services of skilled and experienced personnel, risks related to claims and legal proceedings against Almonty and any of its operating mines, risks relating to unknown defects and impairments, risks related to the adequacy of internal control over financial reporting, risks related to governmental regulations, including environmental regulations, risks related to international operations of Almonty, risks relating to exploration, development and operations at Almonty’s tungsten mines, the ability of Almonty to obtain and maintain necessary permits, the ability of Almonty to comply with applicable laws, regulations and permitting requirements, lack of suitable infrastructure and employees to support Almonty’s mining operations, uncertainty in the accuracy of mineral reserves and mineral resources estimates, production estimates from Almonty’s mining operations, inability to replace and expand mineral reserves, uncertainties related to title and indigenous rights with respect to mineral properties owned directly or indirectly by Almonty, the ability of Almonty to obtain adequate financing, the ability of Almonty to complete permitting, construction, development and expansion, challenges related to global financial conditions, risks related to future sales or issuance of equity securities, differences in the interpretation or application of tax laws and regulations or accounting policies and rules and acceptance of the TSX of the listing of Almonty shares on the TSX.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to, no material adverse change in the market price of ammonium para tungstate (APT), the continuing ability to fund or obtain funding for outstanding commitments, expectations regarding the resolution of legal and tax matters, no negative change to applicable laws, the ability to secure local contractors, employees and assistance as and when required and on reasonable terms, and such other assumptions and factors as are set out herein. Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary.

Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing list of material factors is not exhaustive. When relying on Almonty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

Almonty has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

For further information, please contact:

Lewis Black
Chairman, President and CEO
Telephone: +1 647-438-9766
Email: [email protected]

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