Almonty Orders Metso Equipment for Sangdong Phase II as Buyback and Legal Settlement Tighten the Story
Published on 10/05/2026 at 10:30 | Editorial boerse-global.de
Almonty Industries has moved quickly from restart to expansion planning at its South Korean tungsten operation. Barely a week after the first tungsten concentrate rolled off the line at Sangdong, management has already placed equipment orders with Metso to underpin the next stage of the build-out, targeting completion of Phase II in 2027.
Once that phase wraps up, the processing plant is expected to handle up to 1.2 million tonnes annually, with potential yearly output exceeding 460,000 MTU of tungsten. Underground development for the second stage is advancing steadily, and the Metso orders are meant to secure the technical infrastructure needed to lift throughput over the coming years.
The commercial restart itself is still fresh. Sangdong produced its first tungsten concentrate since 1993 just over a week ago, with initial transport-ready bags packed for shipment to industrial buyers abroad through Almonty Korea Tungsten. The regulatory green light for the processing facilities had already been granted on 17 September.
Mill Running 13 Hours, Full-Day Operation in Sight
CEO Lewis Black said the mill is currently operating 13 hours a day, seven days a week, with a gradual ramp toward round-the-clock production. That shift carries weight well beyond the company's balance sheet — the Yeongwol region stands to benefit economically as activity picks up.
Should investors sell immediately? Or is it worth buying Almonty?
The step from pure development to active marketing is now complete, positioning Almonty as a fresh supplier in a market where supply chains remain tight.
Buyback and an Ontario Lawsuit Put to Rest
Alongside the operational spending, Almonty is reinforcing its capital structure. The company repurchased 2,914,739 of its own common shares for cancellation, at a total volume of roughly USD 48 million. To keep buying during regular blackout windows, management also plans to introduce an automatic repurchase program.
Legal clarity arrived on the same front. On Friday, Pure Tungsten Inc. issued a corrective statement as part of a settlement, confirming that Tiger Kim never held a senior executive, board, or director role at Almonty. His work as an independent contractor had ended on 31 December 2015. The dispute had begun in 2025 in the Canadian province of Ontario.
Stifel Starts Coverage With USD 25 Target
Market reaction has been steady. The stock added 1.8% in today's session to EUR 12.12, putting the company's market capitalization at EUR 3.42 billion. On Friday, shares had risen 1.5% to EUR 11.91, and the stock has gained 4.2% since the first concentrate production was reported.
Analyst support has followed. On 25 September, Stifel initiated coverage with a buy rating and a price target of USD 25.00 — a call that, according to media reports, gave the shares a noticeable push.
Ad
Almonty Stock: New Analysis - 5 October
Fresh Almonty information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
