A Past-Producing Nevada Tungsten Mine Just Lit Up in Soil - and Western Star Is Already Expanding the Hunt

Almonty Industries Inc. (AII) commenced processing plant throughput operations at its Sangdong tungsten mine in South Korea during June 2026. The company is feeding a stockpile of approximately 139,700 tonnes of run-of-mine ore, with a blended grade of approximately 0.25% WO₃, through the newly commissioned facility. The contained tungsten in this stockpile is equivalent to approximately 2.6 months of Phase I throughput feed and carries an illustrative gross in-process value of approximately US$68 million at current tungsten prices.

The stockpile comprises 120,000 tonnes of 0.24% WO₃ material from Q1 2026 and 19,700 tonnes of 0.35% WO₃ development ore from Q2 2026. Management noted it is utilizing lower-grade throughput during the initial ramp-up phase to optimize ore blending and maintain consistent feed quality, signaling that grades will improve as operations advance. No production or cost figures are provided beyond the stockpile metrics, and revenue recognition from concentrate sales has not yet begun.

Almonty Industries Inc. (AII) has commenced processing at its Sangdong mine, a critical operational step that followed the recent commissioning ceremony and prior management comments. The announcement did not provide new financial figures or indicate a production beat.

The disclosed stockpile grade of 0.25% WO₃ is materially below the Sangdong mine’s average reserve grade of 0.42% and resource grade of 0.51%. However, management had previously warned of lower-grade feed during the ramp-up phase, meaning this is not a negative surprise.

An illustrative US$68M gross value was cited based on spot tungsten prices, but actual revenue will depend on processing recoveries and sales that have not yet been realized.

Almonty Industries Inc. (AII) is a globally diversified tungsten producer operating a portfolio that includes its flagship Sangdong mine in South Korea, which is currently under ramp-up, and the long-established Panasqueira mine in Portugal, which has been in production since 1896. The company also holds the Gentung Browns Lake development project in Montana, USA, along with other assets in Spain, including Los Santos, which is on care and maintenance, and Valtreixal, which is in the pre-feasibility stage.

The primary catalyst for the company is Sangdong, which has a Phase I capacity of 640,000 tonnes per annum of ore. This operation yields approximately 2,300 tonnes of tungsten concentrate and targets approximately 40% of the non-China tungsten supply when fully expanded.