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.
Almonty Industries Inc. ("Almonty") (TSX:AII, OTCQX:ALMTF) is pleased to announce that it has now scheduled a start date of the week of April 12th, 2021 to .
Almonty Industries Inc. Announces the Expansion of Its ESG Program
Almonty Industries Inc. ( Almonty ) (TSX:AII OTCQX:ALMTF Frankfurt:1MR) is pleased to announce the expansion of its current Environmental, Social and Governance (ESG) program at its Panasqueira mine in Portugal and at its Sangdong project in South Korea. At Panasqueira, a solar project is being implemented over the next 12 months, building a 2.52 MW facility to produce 4.1 million KWH per year which represents 21.5 of our consumption at the mine. At Sangdong, a third-party report will be concluded over the next 3 months, analyzing the carbon footprint and how best to minimize that footprint. Given the energy from the grid supplied to the Sangdong project is 100% renewable, the Company has a unique opportunity to push towards carbon neutrality at our Korean site.
European tungsten producer Almonty advances Korean Sangdong project
A cement truck exits the Almonty Korea tungsten mine. Credit: Almonty.
Almonty Industries (TSX: AII; US-OTC: ALMTF) has two mines in Europe producing tungsten concentrate – the Los Santos mine in western Spain and the Panasqueira mine in Portugal – but it’s the Sangdong tungsten project in South Korea that has become the junior’s main focus in recent years.
Sangdong – once one of the world’s largest tungsten mines in production and still one of the few high grade tungsten deposits outside of China came into its portfolio in September 2015 when Almonty acquired its former owners, a Canadian company called Woulfe Mining, after a persistent courtship.