Almonty Industries Enters Commercial Production at Sangdong Mine

Almonty Industries has marked a significant milestone with the start of commercial tungsten production at its Sangdong mine in South Korea. The operation began roughly a week ago, following final certification of the plant.

The launch of analyst coverage from Stifel and Goldman Sachs coincided with this development. Stifel initiated on the stock with a Buy rating and a US$25 price target, while Goldman Sachs assigned a Neutral rating with a US$13 target.

According to Stifel's analysis, Almonty is well-positioned in Western supply chains due to its strategic expansion plans at Sangdong and Panasqueira. The analyst estimates that Sangdong could cover around 40% of Western and allied tungsten supply once both phases are complete.