Almonty Industries Inc.

Description

Almonty Industries Inc explores and develops tungsten, a hard pure metal.

The portfolio of properties consists of the following:
• Almonty Korea Moly
• Panasqueira Mine
• Los Santos Mine
• Valtreixal Project

Almonty acquired the Los Santos Mine in northern Spain in September 2011. It has been focused on the exploration and mining operations at the property since its acquisition. In addition, the firm claims that the tungsten recovery rate has increased from 35-40 per cent to 50 per cent owing to several testing and trials.

Almonty Industries also aims to increase the mine life by nine years and claims to have reduced the operating costs by 35 per cent since 2011.

Through its wholly owned subsidiary, Woulfe Mining, the firm owns the Almonty Korea Tungsten Project, located in South Korea. The Korean project reportedly hosts the world’s largest tungsten resources. The company claims that the property is responsible for producing 50 per cent of the world’s tungsten demand. The exploration company owns 100 per cent interest in the Valtreixal Sn-WO3 project in Northern Spain region. The project was acquired from the same group that had previously developed the Los Santos Mine- SIEMCALSA.

The company claims to acquire underperforming assets in global tungsten markets and develop them through its in-house expertise in tungsten.

The tungsten miner claims to focus its operations on past producing mines, on-care operations, and tailings stockpiles that can enable near-term production and generate a positive cashflow.

According to the company’s findings, the global market for Tungsten is dominated by the Chinese supply and demand. The increasing demand for tungsten reportedly presents a huge opportunity to capture and meet the global demand for Tungsten, the mining firm claims. Almonty further emphasizes that the global tungsten demand will rise annually by 3 to 7 per cent and it will exceed the available supply creating a upward pressure on the prices of Tungsten.

The rising aerospace manufacturing demand also stimulates the demand for tungsten alloys, it adds.
Apart from use in aerospace in manufacturing, tungsten is also used in electrodes, lightening filaments, electronic contacts, wires, rods, sheets, etc.