- Almonty Industries (AII) progresses activities for its Sangdong Downstream Extension project in South Korea
- The company is currently consulting with process engineering firm IAF Holding GmbH to design and construct the project’s processing facility
- Additionally, it has selected the facility’s site, which will be located at the Seok Moon Industrial Complex in South Korea
- The site was selected due to its existing environmental permitting and infrastructure, including access to sufficient water, electricity, communications, and gas
- Shares are trading 1.32 per cent lower at 75 cents at market close
Almonty Industries (AII) has progressed activities for its Sangdong Downstream Extension project in South Korea.
The company is currently consulting with process engineering firm IAF Holding GmbH to design and construct the project’s processing facility.
Additionally, it has selected the facility’s site, which will be located at the Seok Moon Industrial Complex in South Korea.
The site was selected due to its existing environmental permitting and infrastructure, including access to sufficient water, electricity, communications, and gas.
Key board and staff members plan to visit the proposed location in the fourth quarter along with KfW and its independent consultants.
CEO Lewis Black said the upcoming visit will allow the key members to view the progress so far at site.
“We are still comfortably within budget despite the inflationary pressures and we have successfully navigated these pressures by anticipating them early last year,” he said.
Shares were trading 1.32 per cent lower at 75 cents at market close.