Unveiling the Marvels of Panasqueira Crystals: A Journey from Mine to Museum

Last Updated, June 1, 2023
Written by Almonty Industries Inc.

Written by Almonty Industries Inc.

Home » Market Announcements » Unveiling the Marvels of Panasqueira Crystals: A Journey from Mine to Museum

At Almonty Industries, we take immense pride in our commitment to excellence in the mining industry. Our Panasqueira Mine in Portugal has long been renowned for its exceptional mineral specimens, and we are thrilled that a number of our crystals have found a remarkable new home in both the American Museum of Natural History, and the The Natural History Museum in London

Almonty’s Chairman and  CEO, Lewis Black recently visited the natural history museums in both New York and London, where our Panasqueira Crystal specimens are on display. With 21 crystals in the New York exhibit and over 100 in London, we are proud to be the largest single source of such magnificent specimens in both locations.

A Rare Showcase of Panasqueira Crystals:

The Panasqueira Mine has earned its place as a global treasure trove of mineral specimens. Nestled in the picturesque mountains of Portugal, this mine has consistently yielded some of the world’s most extraordinary crystals. The crystals from Panasqueira exhibit a captivating range of colours, shapes, and formations, making them highly sought after by mineral collectors and museums alike.

The Natural History Museum, New York:

Lewis’ recent visit to the natural history museum in New York allowed for an exciting discovery. Our Panasqueira Crystals take centre stage in a new exhibit, showcasing the exceptional beauty and geological significance of these specimens. With 21 crystals on display, visitors can admire the intricate formations, vibrant hues, and sheer brilliance of these natural wonders. The exhibit serves as a testament to the remarkable geological processes that have shaped the Panasqueira Mine and highlights the importance of preserving our planet’s natural resources.

Ferberite with Quartz
Panasqueira Mine, Covilha, Centro Region, Portugal

Ferberite with Arsenopyrite and Muscovite
Panasqueira Mine, Covilha, Centro Region, Portugal

The Natural History Museum, London:

Crossing the Atlantic, our Panasqueira Crystals have also found a prominent place in the natural history museum in London. This prestigious institution proudly houses over 100 specimens sourced exclusively from our Panasqueira Mine, representing the largest collection from a single source in both New York and London. This remarkable feat emphasises the unparalleled richness of our mine and the global recognition it has garnered within the scientific and mineralogy communities.

Panasqueira Mine, Covilha, Centro Region, Portugal

Fluorapatite with Quartz
Panasqueira Mine, Covilha, Centro Region, Portugal

The Wonders of Panasqueira Mine:

What makes the Panasqueira Mine truly exceptional is its ability to produce mineral specimens of unrivalled quality and diversity. The geological forces at play in this region have created an environment conducive to the formation of unique crystals. From the breathtaking quartz crystals with their prismatic beauty to the captivating tourmalines in a myriad of shades, Panasqueira showcases a kaleidoscope of natural marvels.

Preserving Nature’s Treasures:

As we celebrate the presence of our Panasqueira Crystals in prestigious museums, it is crucial to emphasise the significance of responsible mining practices. Almonty Industries is deeply committed to sustainable mining operations that prioritise environmental conservation, local communities, and the wellbeing of our workforce. We have a strong Environmental, Social and Governance (ESG) program in place, and recognize the delicate balance between extracting Earth’s treasures and preserving them for future generations to appreciate and learn from.

The exhibition of Almonty’s Panasqueira Crystals in the natural history museums of New York and London is a testament to the extraordinary geological wealth found within our mine in Portugal. The exceptional quality, beauty, and diversity of our crystals have captivated audiences and solidified Panasqueira’s reputation as a world-class source of mineral specimens. As we continue our mining endeavours, we remain steadfast in our commitment to sustainable practices and the responsible preservation of our planet’s natural wonders.

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Boerse Frankfurt
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.


For further information, please contact:

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

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