Almonty says Sangdong tungsten mine on track for commissioning next year 

Almonty Industries (TSX:AII; ASX:AII; OTC:ALMTF) says construction at its Sangdong tungsten mine in South Korea is about 25% complete. That puts the project on track for commissioning in 2024. The property is located about 190 km southeast of Seoul. 

Progress is being made on several fronts. Delivery of long lead-time equipment from Metso Outotec – screens, feeders, and flotation tanks – is nearing completion. Ninety-nine per cent of the equipment for the SAG and ball mills has arrived in South Korea. All engineering plans have been finalized. Lastly, surface scalping has begun to prepare the site for civil construction. 

The 4-MW permanent power system was installed in March 2023, replacing the temporary 950 kW system. The power will be provided through renewable sources. 

Almonty acquired the Sangdong project in 2015. The company has outlined proven and probable reserves of 7.9 million tonnes grading 0.45% tungsten trioxide (WO₃). Measured and indicated resources are  8.3 million tonnes at 0.49% WO₃. The inferred resource is 52.8 million tonnes at 0.44% WO₃. The project is forecast to provide a free cash flow of US$300 million annually by 2030. 

The company is also investigating a vertically integrated nano tungsten oxide downstream processing plant at Sangdong. 

Almonty operates the Los Santos tungsten mine in Spain, the Panasqueira tin-tungsten mine in Portugal, a molybdenum project on the same site as the Sangdong tungsten mine, and the Valtreixal tin-tungsten project near the Los Santos mine in Spain. 

More information is posted on www.Almonty.com.