Almonty Industries (ASX:AII) has announced plans to reopen its Los Santos mine in Spain, utilising the company's flotation technology from its Sangdong Tungsten Mine.

The mine has been in planned care and maintenance since 2020 and Almonty Industries has been undertaking studies to recommence production since. 

The tungsten-focussed company estimates that reopening will be effective from Q3 2023, depending on the delivery times of certain plant items.

It said it's expected that earnings from reopening the Los Santos mine will be similar to the earnings at Almonty's existing Panasqueira production mine in Portugal.