Who is the new CFO of Almonty Industries (ASX:AII) and when does he start?

Almonty Industries has appointed Jorge Beristain as Chief Financial Officer, with his tenure officially beginning on 1 June 2026.

Why is Jorge Beristain’s appointment significant for Almonty Industries (ASX:AII) shareholders?

Beristain brings significant capital markets expertise, having previously served as a top-ranked Wall Street equity research analyst at Deutsche Bank. During his time at Ryerson Holding, he was credited with helping double the company’s market capitalisation.

What is the current strategic focus for Almonty Industries (ASX:AII)?

The leadership change coincides with Almonty’s push to scale its flagship Sangdong Mine in South Korea, which is one of the world's largest tungsten deposits. Additionally, the company is looking to strengthen its strategic role in the Western tungsten supply chain across the United States, Portugal, and Spain.

Who is managing the CFO duties at Almonty Industries until June 1?

Guillaume de Lamazière, Almonty’s current Chief Development Officer, has stepped in as Interim CFO following the immediate departure of Brian Fox. De Lamazière is highly experienced, with over 30 years in financial leadership roles at institutions including Goldman Sachs and AIG Asset Management.

How does this news impact the investment thesis for Almonty Industries (ASX:AII)?

The appointment of a CFO with deep experience in basic materials and mining finance suggests Almonty is preparing for more aggressive institutional engagement and potential capital market activities. For retail investors, the thesis shifts toward a "growth and execution" story focused on the Sangdong Mine.

What are the key risks for Almonty Industries (ASX:AII) after this leadership change?

The immediate departure of the former CFO, Brian Fox, creates a short-term leadership gap that must be filled by an interim officer. While Beristain has a strong track record, the primary risk remains the successful execution and scaling of the Sangdong Mine Project.

Almonty Industries appoints Jorge Beristain as new CFO

Written by Liezl GambePublished May. 7 2026Last Updated May. 7 2026

Almonty Industries (ASX:AII) announced the appointment of Jorge Beristain as CFO, effective June 1.

The leadership transition comes as the company accelerates the scaling of its flagship Sangdong Mine in South Korea and strengthens its foothold in the critical mineral supply chains of the United States, Portugal, and Spain.

Beristain, a seasoned finance executive and CFA charterholder, joins Almonty following a distinguished tenure at Ryerson Holding, where he served as vice president of finance.

During his time there, he was instrumental in doubling the firm's market capitalisation.

His extensive pedigree includes serving as CFO of Central Steel & Wire Co. and a high-ranking career in Wall Street equity research at Deutsche Bank Securities.

His deep fluency in capital markets and the basic materials sector is expected to be a primary catalyst for Almonty’s next phase of expansion.

The company also confirmed the immediate departure of former CFO Brian Fox. Guillaume de Lamazière, Almonty’s chief development officer, will serve as interim CFO.

de Lamazière brings over thirty years of senior financial leadership from institutions such as Goldman Sachs and AIG Asset Management.

At the time of reporting, Almonty Industries’ share price was $29.18.