Almonty Industries (ASX:AII) has completed Phase 1 commissioning of the Sangdong Tungsten Mine in Gangwon Province, South Korea.
The milestone marks the historic return to production for a site that was once among the world’s most prolific tungsten sources before operations were mothballed over 30 years ago due to depressed commodity prices.
Since acquiring the project in 2015, Almonty has invested upwards of CAD$100 million to transform the site into a state-of-the-art underground operation.
The redeveloped facility features 4km of new tunnels and a high-capacity processing plant equipped with advanced Metso grinding technology.
The plant is designed to process 640,000 tonnes of ore annually, yielding approximately 2,300 tonnes of tungsten concentrate.
However, the company is already eyeing a Phase 2 expansion for 2027, which aims to double annual output to 4,600 tonnes.
Beyond industrial output, the reopening carries significant geopolitical weight.
CEO Lewis Black emphasised that the project is a pivotal step for the West to diversify supply chains and reduce reliance on Chinese mineral dominance.
The importance of the event was underscored by a commissioning ceremony attended by over 200 South Korean government officials and representatives from the US embassy.
At the time of reporting, Almonty's share price was $27.09.