# Almonty Industries transitions to producer; approves buyback > Live situation record from CLSTR: https://clstr.news/situations/metal-producers-gain-from-rising-commodity-prices > Updated: 2026-09-08T08:09:09.000Z. Sources: 19. Developments: 10. Almonty Industries has transitioned from a mining developer to a producer following the commencement of active operations at its Sangdong mine in South Korea in mid-2026. This operational milestone is bolstered by significant long-term supply contracts, including an expanded 21-year agreement with Global Tungsten & Powders that increases committed delivery volumes by 40%. Following the start of operations, Almonty reported a massive surge in financial performance; second-quarter revenue rose 498% year-over-year to 43 million Canadian dollars. While the company reported a net profit of 181.8 million Canadian dollars, approximately 173.1 million Canadian dollars of that figure was attributed to non-cash revaluation gains from derivatives and warrants. Investor interest has been further driven by a share buyback program announced in mid-August. The program authorizes the repurchase of up to 14.4 million common shares, valued at approximately $300 million, through August 2029. CEO Lewis Black stated the move is intended to reflect the company’s “true value,” noting that Almonty controls one of the largest tungsten deposits outside of China. Following the start of operations, Almonty completed its withdrawal from the Toronto Stock Exchange on 31 July 2026 and has delisted from the Australian Securities Exchange (ASX). The company maintains primary listings on the Nasdaq and Frankfurt Stock Exchange. In early September 2026, Almonty’s NASDAQ shares experienced a rally of approximately 8.8 percent in a single session, contributing to a year-to-date increase of over 117 percent. Analysts from Jefferies have issued a ‘Buy’ rating with a price target of $26.25, citing the importance of Phase-I production. ## Timeline ### 2026-09-08: Almonty Industries shares rally on tungsten production and buyback Almonty Industries shares have rallied following strong quarterly profits, a $300 million share buyback program, and the transition of the Sangdong Mine into operational tungsten production. 2 sources. https://clstr.news/cluster/almonty-industries-shares-rally-on-tungsten-production-and-buyback ### 2026-09-03: Almonty Industries stock faces correction after recent rally Almonty Industries faces a stock correction after hitting resistance at $19, despite high demand for tungsten in the US defense and semiconductor sectors. 2 sources. https://clstr.news/cluster/almonty-industries-stock-faces-correction-after-recent-rally ### 2026-08-31: Almonty Industries delists from ASX amid Sangdong mine production ramp-up Almonty Industries has delisted from the ASX to focus on Nasdaq and Toronto listings following a 498% revenue surge driven by its Sangdong tungsten mine in South Korea. 2 sources. https://clstr.news/cluster/almonty-industries-delists-from-asx-amid-sangdong-mine-production-ramp-up ### 2026-08-19: Almonty Industries authorizes US$300 million share buyback Almonty Industries has authorized a US$300 million share buyback as its Sangdong mine in South Korea begins commercial operations, driving a 498% revenue increase in Q2. 4 sources. https://clstr.news/cluster/almonty-industries-approves-us300-million-share-buyback ### 2026-08-14: Almonty Industries begins tungsten production at Sangdong mine Almonty Industries has begun tungsten production at its Sangdong mine in South Korea, reporting a revenue jump to $43 million and the full repayment of its KfW IPEX-Bank loan amid record tungsten prices. 2 sources. https://clstr.news/cluster/almonty-industries-begins-tungsten-production-at-sangdong-mine ### 2026-08-09: Almonty Industries shifts primary listing to Nasdaq amid exchange exits Almonty Industries is consolidating its stock listings on the Nasdaq and Frankfurt, delisting from the TSX and ASX to reduce costs. Meanwhile, SEI Investments has reduced its stake in the company by 56%. 3 sources. https://clstr.news/cluster/almonty-industries-shifts-primary-listing-to-nasdaq-amid-exchange-exits ### 2026-08-01: Almonty Industries exits TSX and ASX, consolidates trading on Nasdaq and Frankfurt Almonty Industries will leave the Toronto and Australian exchanges, keeping listings on Nasdaq and Frankfurt, while investors watch a broader shift toward critical‑minerals supply‑chain independence. 3 sources. https://clstr.news/cluster/almonty-industries-exits-tsx-and-asx-consolidates-trading-on-nasdaq-and-frankfurt ### 2026-07-27: Almonty Industries consolidates Nasdaq and Frankfurt listings as Sangdong mine starts production Almonty starts production at South Korea's Sangdong mine, exits TSX and ASX, and moves its listing to Nasdaq and Frankfurt; Deutsche Rohstoff AG reduced its stake. 2 sources. https://clstr.news/cluster/almonty-industries-consolidates-nasdaq-and-frankfurt-listings-as-sangdong-mine-starts-production ### 2026-07-19: Almonty Industries to Delist from Toronto Stock Exchange, Shift to Nasdaq After Expanding Sangdong Mine Contract Almonty Industries will delist from the Toronto Stock Exchange on 31 July 2026, moving all trading to Nasdaq after extending its Sangdong mine supply contract to 21 years, boosting volume and revenue. 3 sources. https://clstr.news/cluster/almonty-industries-to-delist-from-toronto-stock-exchange-shift-to-nasdaq-after-expanding-sangdong-mi ### 2026-07-09: Almonty Industries Shares Surge as DA Davidson Raises Price Target Almonty shares rose 9.7% after DA Davidson lifted its price target to $33 and Plansee confirmed a supply deal for the Sangdong tungsten mine, boosting its strategic position despite dilution risks from new bond 4 sources. https://clstr.news/cluster/8x8-inc-and-almonty-industries-gain-on-analyst-upgrades --- Cite as: Almonty Industries transitions to producer; approves buyback. CLSTR, https://clstr.news/situations/metal-producers-gain-from-rising-commodity-prices