Almonty’s Sangdong Mine Begins Production, Joins Russell 1000 in Landmark Month
Published on 07/01/2026 at 15:32 | Redaktion boerse-global.de
Almonty Industries has delivered a one-two punch that marks its evolution from explorer to revenue-generating producer. The company’s flagship Sangdong operation in South Korea began processing ore in June, while a separate milestone — inclusion in the Russell 1000 Index on June 29 — has thrust the stock into the crosshairs of passive fund managers overseeing roughly $12.2 trillion in assets.
The production ramp at Sangdong is now official, following a regulatory filing with the US Securities and Exchange Commission. Some 139,700 tonnes of run-of-mine ore are already stockpiled at the site, grading 0.25% tungsten trioxide. At current market prices, Almonty values that inventory at approximately $68 million. The start of processing means that for the first time, the company is booking operating revenue from the South Korean project.
“This is a massive step forward,” said CEO Lewis Black. “We are now generating real cash flow from Sangdong.”
Should investors sell immediately? Or is it worth buying Almonty?
The Russell inclusion adds an institutional tailwind. Passive funds tracking the index must adjust their portfolios to include Almonty, providing a structural buyer for the shares. Black described the move as market recognition of Almonty’s scale as a Western-focused tungsten supplier. The company is also eyeing a seat on the S&P/TSX Global Mining Index and has flagged plans to list on the Nasdaq, moves that would broaden its shareholder base and deepen liquidity in North American trading.
The market has already rewarded the story handsomely. Almonty shares closed at C$23.67 on Tuesday, delivering a 264% gain over the past twelve months and roughly doubling since the start of the year. Still, the stock has pulled back about 29% from its April high, and the Relative Strength Index currently points to neutral momentum. The shares maintain a comfortable 30% cushion above their 200-day moving average.
The strategic backdrop for Sangdong is equally supportive. Western industries are scrambling to secure tungsten supply outside China, where the state tightens export controls. The Plansee Group, a European refractory metals giant, recently warned that the West must urgently shore up its raw material access. Sangdong is poised to become one of the largest new tungsten sources outside China in years, offering a more stable link in the supply chain.
For the remainder of the year, management’s focus will be on fine-tuning the processing plant. The priority is proving consistent recovery rates and delivering a uniform tungsten concentrate. If that phase succeeds, Almonty can lock in its long-term production targets and cement its status as a primary global supplier of the critical metal. With the Russell mandate now in place and the first ore running through the mill, the narrative has shifted from promise to execution.
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