Almonty Issues Shareholder Letter and Provides Corporate Update
Business Wire•29/09/2026•07:30 ET
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Key Highlights
- ➤Sangdong (ALM) produced first tungsten concentrate bags, ready for export
- ➤Phase II officially underway, with completion expected in 2027
- ➤Phase II could raise capacity to up to 1.2 million tonnes per annum
- ➤Almonty (ALM) repurchased 2,914,739 shares for approximately US$48 million
- ➤Los Santos signed take-or-pay offtake covering at least approximately 1,720 tonnes contained WO₃
Expert Statements
Lewis Black, Chairman, President & Chief Executive Officer of Almonty
“Phase II is officially a go.”
Lewis Black, Chairman, President & Chief Executive Officer of Almonty
“We expect Phase II to be completed in 2027, further ramping capacity to up to 1.2 million tonnes per annum and positioning Sangdong to potentially produce over 460,000 MTU annually, making it one of the largest tungsten mines outside of China and definitively the largest producing currently.”
Lewis Black, Chairman, President & Chief Executive Officer of Almonty
“Since launching our previously announced share repurchase program, Almonty has bought back for cancellation 2,914,739 common shares for a total of approximately US$48 million.”
Almonty Issues Shareholder Letter and Provides Corporate Update
Almonty Industries Inc. (“Almonty” or the “Company“) (NASDAQ: ALM) (Frankfurt: ALI1), a leading global producer of tungsten, today issued a letter to shareholders from Lewis Black, Chairman and Chief Executive Officer of Almonty.
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