Sangdong Mine Completion Ceremony Marks a Defining Milestone for Almonty
The completion of the Sangdong Mine marks a defining milestone for Almonty and a major step in restoring a globally significant tungsten asset to production.
Sustainability in Mining – Beralt Tin and Wolfram (Portugal)
Last Updated, October 2, 2020
Written by Lewis Black
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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.
Here are some of the BTW’s good practices in each goal:
 | 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. |
Almonty Industries Reports Fourth Quarter and Full Year 2025 Financial Results
Almonty today announced its financial results for the three and twelve months ended December 31, 2025.
Almonty Completes Phase 1 of Sangdong Tungsten Mine in South Korea
Almonty today announced the completion of Phase 1 commissioning at its Sangdong Tungsten Mine in Gangwon Province, South Korea – marking the return to production after more than 30 years.
About Almonty
Almonty (NASDAQ: ALM) (TSX: AII) (ASX: AII) (FSE: ALI1) is a leading supplier of conflict free tungsten – a strategic metal critical to the defense and advanced technology sectors. As geopolitical tensions heighten, tungsten has become essential for armor, munitions, and electronics manufacturing. Almonty’s flagship Sangdong Tungsten Mine in South Korea, historically one of the world’s largest and highest-grade tungsten deposits, is expected to supply over 80% of global non-China tungsten production upon reaching full capacity, directly addressing critical supply vulnerabilities highlighted by recent U.S. defense procurement bans and export restrictions by China. With established operations in Portugal and additional projects in Spain, Almonty is strategically aligned to meet rapidly rising demand from Western allies committed to supply-chain security and defense readiness. To learn more, please visit almonty.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.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws.
All statements, other than statements of present or historical facts, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words such as “plan”, “development”, “growth”, “continued”, “intentions”, “expectations”, “emerging”, “evolving”, “strategy”, “opportunities”, “anticipated”, “trends”, “potential”, “outlook”, “ability”, “additional”, “on track”, “prospects”, “viability”, “estimated”, “reaches”, “enhancing”, “strengthen”, “target”, “believes”, “next steps” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, but are not limited to, statements concerning the completion of the Offering, the Company’s redomiciling initiatives, the Company’s position as a leading supplier of tungsten to the U.S. and its allies, the timing of any listing of the Common Shares on the Nasdaq, the continued listing of the Common Shares on the TSX and the ASX and trading on the Frankfurt Stock Exchange, and the use of proceeds of the Offering.
Forward-looking statements are based upon certain assumptions and other important factors that, if untrue, could cause actual results to be materially different from future results expressed or implied by such statements. There can be no assurance that forward-looking statements will prove to be accurate. Key assumptions upon which the Company’s forward-looking information is based include, without limitation, the absence of market conditions that could adversely impact the Offering or the intended listing of the Common Shares on the Nasdaq; the satisfaction of all listing requirements of the Nasdaq and continued listing requirements of the TSX and ASX; the achievement of any closing conditions to the Offering; and the absence of material adverse changes in the Company’s industry or the global economy including interest rates, inflationary pressures, supply chain disruptions, and commodity market volatility.
Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, including, without limitation, the risks and uncertainties identified in the Registration Statement; risks relating to the Offering not being completed in a timely manner or at all, including due to unfavourable market or other conditions or factors; the possibility that the required approvals for or conditions to the Offering will not be received or satisfied on a timely basis or at all; changes in the anticipated timing for closing the Offering; business disruption during the pendency of or following the Offering; diversion of management time on Offering-related issues; the ability to retain members of Almonty’s management team; the impact of the Offering on relationships with customers, suppliers, employees and other business counterparties; risks related to the reaction of customers, shareholders and members of the public to the Offering; and other events that could adversely impact the completion of the Offering, including industry or economic conditions outside of Almonty’s control. Any of these risks could have a material adverse effect on the Company’s business, financial condition, results of operations and growth prospects. Readers should consider reviewing the detailed risk discussion in the Company’s Registration Statement, the most recent Annual Information Form and the amended Management Discussion and Analysis for the three months ended March 31, 2025 filed on SEDAR+, for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.
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, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, 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]