ALMONTY INDUSTRIES - ON THE WAY TO BECOMING A BIG PLAYER Almonty Industries specializes in the mining, processing and distribution of tungsten concentrate and operates globally. Despite a difficult 2020 with Corona-related mine closures in Spain and Portugal, it can ultimately be chalked up as a success. Last December, the Company received credit approval to build the world's largest tungsten mine, Sangdong, in South Korea. Parallel work was done on the ASX listing, as that is the largest stock exchange for the Asia-Pacific region.
Another advantage for the Company is the strained relations between China and the United States. Tungsten is considered a strategic metal because of its military applications. Similar to rare earths, China owns a good 80% of the world's resources. Tungsten prices continue to rise. Almonty will benefit enormously from this with the completion of the mine in South Korea. The Sangdong mine alone can supply about 30% of the tungsten not produced in China.
In addition, the tin and tungsten project in Valtreixal in northwestern Spain is gaining momentum. There, the permitting process can be completed after a land-use reclassification occurred. This will significantly increase the value of the project. At Sangdong, a drilling program is planned to further define the molybdenum contained in the mine. If drilling results are successful, this would be another leg up for Almonty.
Those who want to profit from a rising tungsten price can still buy relatively cheaply now from a future big player in the tungsten market. Since the figures for 2020 were only announced on Saturday, one should see if some selling pressure comes up and then take hold. In the long term, the Company is developing into a good investment.
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