Update from DRAGAlmonty Industries The investment Almonty Industries (WKN: A1JSSD; ISIN: CA0203981034) had announced in early December that it had signed the project financing with KfW-IPEX Bank for USD 74 million for construction of the Sangdong mine in South Korea. Almonty's existing production from mines in Portugal and Spain will multiply when Sangdong comes on stream from late 2022. The buyer of the additional tungsten concentrates, the Plansee Group from Austria, will provide guarantees of around USD 30 million in connection with the financing. At the end of the year, Deutsche Rohstoff AG co-subscribed to a capital increase at Almonty. It is expected that the necessary equity contribution for project financing will be available in the 1st quarter. Work on the mine in South Korea is already underway. The Almonty share gained around 52 percent last year. Deutsche Rohstoff AG sees considerable further potential, as Sangdong not only represents the most promising tungsten mine in the world, but also has a molybdenum deposit with high grades. Both metals are considered critical for many new industrial applications, but are currently supplied mainly from China. Prices for almost all industrial metals, including tungsten, have increased in recent months. DGAP-News: Deutsche Rohstoff AG: Corporate update | wallstreet-online.de - Vollstndiger Artikel unter: https://www.wallstreet-online.de/nachricht/13354193-dgap-news-deutsche-rohstoff-ag-corporate-update/2