TORONTO Almonty Industries Inc. (“ Almonty ” or the “ Company ”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI) today announced the filing of its…
Almonty collaborates with South Korean government to strengthen rare earth supply pm-review.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pm-review.com Daily Mail and Mail on Sunday newspapers.
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By Lewis Black, CEO of Almonty Industries
From cars and construction equipment to cell phones and military weapons, rare earth materials are critical to manufacturing many important things businesses and consumers use on a daily basis. While people around the world rely on these minerals in their everyday lives, China produces 80% of the U.S. rare earth and has been doing so for quite some time (1. What’s made things even worse over the past 12 to 18 months is a global pandemic. Many consumers stuck at home decided that their current cell phone or computer needed to be replaced, which ultimately caused a shortage of these materials that is affecting various other sectors including the automotive and electronic industries.
Why New Production Sources of Tungsten Are Critical for Increased Global Supply altenergymag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from altenergymag.com Daily Mail and Mail on Sunday newspapers.
Why New Production Sources of Tungsten Are Critical for Increased Global Supply
by Lewis Black, CEO of Almonty Industries
In the last year, there has been an explosive need for EV batteries. All car manufacturers seem to be following in the same footsteps as Tesla. In fact, Jaguar plans to become an “all-electric luxury brand” by 2025
[1] as mentioned on ABCNews. This shift is also taking place in other motorized segments including trucks and mining machinery. With the COVID pandemic wreaking havoc on the U.S. and global economies with businesses and manufacturers having to close doors and furlough employees, the global trade markets plummeted to an 11-year low of 41.5% in the April report for the Institute for Supply Management’s Manufacturing Index.