Almonty Industries Sets 2026 Target for US Tungsten Mine Launch

The strategic push to establish non-Chinese sources for critical minerals is gaining momentum, with Almonty Industries outlining a definitive operational timeline. The company's recent presentation at the International Investment Forum (IIF) moved beyond general promises, providing concrete dates for a project aimed at reducing Western reliance on Asian supply chains. The central challenge now facing the mining operator is whether it can execute this ambitious US expansion plan as scheduled.

A key signal of Almonty's transition from project developer to operator is a recent high-level appointment. The company has brought on retired Brigadier General Steven L. Allen as its new Chief Operating Officer. His primary mandate is to optimize supply chains and ensure timeline adherence for the company's major projects in South Korea and the United States. This move underscores a shift in focus toward rigorous operational execution.

For investors, the coming 18 months will be a critical test of management's discipline in turning these plans into reality.

Sangdong Mine: A Dual-Revenue Engine

While the US initiative captures headlines, the Sangdong mine in South Korea remains the foundational asset. CEO Lewis Black highlighted a significant economic advantage at the forum: the molybdenum by-product.

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The underlying strategy is straightforward yet powerful. Revenue generated from selling the extracted molybdenum is intended to offset the primary costs of tungsten mining. If successful, this model could position Sangdong among the world's lowest-cost producers. At full operational capacity, the mine has the potential to supply a substantial portion of the global tungsten supply originating outside of China.

The Strategic Pivot to US Production

The core of Almonty's new roadmap is the acquisition of the "Gentung Browns Lake" project in Montana. The company aims to establish the first commercial tungsten mine in the United States in over a decade. The production schedule is ambitious, with operations slated to commence in the second half of 2026.

This expansion carries profound strategic weight. Given that the Pentagon classifies tungsten as a critical defense material, Almonty is positioning itself as a direct strategic partner to the US defense industry. The long-term objective is to build a reliable domestic alternative to dominant Chinese suppliers.

The market is beginning to recognize this evolution from explorer to emerging producer. By locking in a 2026 production start for Montana and clarifying the cost structure in Korea, the company has established clear fundamental milestones.