Almonty Industries Launches Major Exploration Initiative for Critical Mineral

Almonty Industries has commenced an extensive drilling campaign at its Sangdong project in South Korea, targeting molybdenum deposits adjacent to its primary tungsten mining operations. The announcement of this accelerated exploration program coincided with downward pressure on the company’s share price.

The launch of this large-scale drilling initiative is a strategic response to domestic molybdenum shortages within South Korea. This critical metal is essential for advanced technology sectors, including semiconductor manufacturing and renewable energy systems. Almonty’s Chief Executive Officer, Lewis Black, highlighted the project’s significant potential to enhance South Korea’s resource security.

The primary objective of the program is to re-evaluate previously identified mineralized structures. A 2022 technical report had already outlined substantial resources, including an... Read more...