Cantor Fitzgerald metals and mining analyst Matthew O'Keefe provided clients on Tuesday with an update on Almonty Industries, citing a corporate update from CEO Lewis Black. The miner's crown jewel tungsten mine in South Korea has begun shipping concentrate as the West's answer to conflict-free tungsten supply comes online, playing into a bigger theme we've outlined called "owning the bottlenecks."
O'Keefe says the Sangdong mine has begun shipping concentrate, is moving toward 24/7 operations, and has about 4.6 months of stockpiled ore to support its ramp-up. Phase II expansion is also already underway, with completion expected in 2027.
O'Keefe outlined why Sangdong is critical to expanding Western-aligned tungsten supply and breaking China's "quasi-monopoly" grip:
A major source ex-China: Phase II would increase throughput to 1.2 million tonnes annually, potentially supporting more than 460,000 MTU of tungsten trioxide production per year at Sangdong.
The production inflection: Cantor’s detailed model forecasts consolidated output rising from 126,287 MTU in 2026 to 444,400 MTU in 2027, while all-in sustaining costs fall from $905 to $319 per MTU
READ MORE AT SOURCE »
« Back to The Culture War
