6% Drop in Tungsten Core Stocks... Investment Sentiment Shaken Despite Positive News from South Dong Mine

Today on Nasdaq, Almonty Industries Inc. (ALM) closed at $19.37, down 5.97%. Trading volume was 3,182,833 shares, and market capitalization stood at approximately $5.4 billion—about ₩7 trillion—erasing roughly $300 million, or ₩400 billion, in a single day.

On March 16, Almonty Industries announced the completion of Phase 1 commissioning and the resumption of production at the Sangdong tungsten mine in Gangwon Province, South Korea, after a 30-year hiatus, positioning itself as a key hub for non-Chinese tungsten supply in Western markets (almonty.com).

At the end of March, Diamond Equity Research highlighted Almonty’s mid- to long-term growth story, assigning a valuation of around $27 per share by reflecting the Sangdong mine’s Phase 2 expansion and record-high tungsten prices (globenewswire.com).

Headquartered in Toronto, Canada, Almonty Industries focuses on tungsten mining, operating the Panasqueira mine in Portugal, the Los Santos and Valtreixal mines in Spain, and the Sangdong mine in Korea, aiming to diversify non-Chinese tungsten supply (en.wikipedia.org).

By restarting operations at Sangdong—the world’s largest mine that once led Korea’s exports—Almonty aims to become the leading tungsten producer outside China over the long term, attracting attention amid Western governments’ critical mineral security concerns (en.wikipedia.org).