Building the West’s tungsten powerhouse

As governments scramble to secure critical minerals and defence budgets expand worldwide, tungsten has quietly become one of the most strategic metals on the planet.

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Disclaimer: This article is disseminated in partnership with Almonty Industries Ltd. It is intended to inform investors and should not be taken as a recommendation or financial advice.

In this in-depth conversation, Lewis Black, CEO of Almonty Industries (ASX:AII), shares the full story behind the redevelopment of the historic Sangdong Mine in South Korea — once the world’s largest tungsten mine — and now positioned to become a cornerstone of non-Chinese supply.

Rather than chasing headlines, Almonty spent years assembling a meaningful Western tungsten platform — with operating assets in Portugal, expansion in South Korea, and development plans in the States.

Now, with tungsten prices transitioning from decades of managed pricing into a freer market dynamic, the timing is proving critical.

In this interview, we cover:

• Why tungsten has moved from “obscure industrial metal” to geopolitical pressure point
• The strategic importance of Sangdong’s reopening
• What commercial production and commissioning mean for 2026
• Why Almonty chose to list on NASDAQ
• Montana development plans and North American expansion
• The company’s long-term cost discipline philosophy
• How Western supply chains are reshaping capital flows
• Retail shareholder engagement — including a behind-the-scenes Korea site visit initiative

With commercial production underway and formal completion ceremonies scheduled, this marks a defining chapter for one of the only meaningful non-Chinese tungsten platforms in operation.

If you want to understand where hard assets intersect with geopolitical reality – this is one to watch.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.