Almonty Industries expands tungsten production amid supply risks

Almonty Industries is seeing increased interest from major investment firms, including Goldman Sachs and Stifel, due to its strategic position in the global tungsten (wolfram) market. The company is positioning itself as a reliable alternative to China, which reportedly controlled approximately 80 percent of global mine production and 85 percent of refining capacity in 2025.

Following Chinese export controls, tungsten prices rose significantly in early 2025. Almonty is responding by expanding its production capabilities. The Sangdong mine in South Korea has entered Phase I commercial production, with plans to double annual ore throughput by 2027. Analysts suggest the Sangdong site could eventually account for roughly 40 percent of Western and allied tungsten supplies. Additionally, the company is driving capacity growth at its Panasqueira site in Portugal, aiming to become a leading Western tungsten producer by the end of 2028.

Despite the long-term strategic outlook, the company's stock has recently faced significant downward pressure. Technical analysis indicates a recent daily loss of nearly 9 percent, with the share price testing key support levels as it continues a downward trend from its September highs.