Almonty's Two-Front Critical-Minerals Offensive Gains Speed as Pentagon's 2027 Deadline Looms
Published on 06/24/2026 at 11:12 | Redaktion boerse-global.de
The Pentagon's January 1, 2027, ban on Chinese tungsten in U.S. military supply chains has set off a race among Western miners, and Almonty Industries is sprinting hardest. With just over six months to go before that hard deadline, the Canadian company is simultaneously pushing two major projects across two continents — a new tungsten mine in Montana and a molybdenum expansion in South Korea — while stockpiling capital and political connections.
Almonty's "Gentung Browns Lake" project in Beaverhead County, Montana, is targeting annual production of 140,000 metric ton units of tungsten from a deposit containing 7.53 million tonnes of ore grading 0.315% tungsten trioxide. The company has secured full mineral rights to the property and plans an underground operation. It has also strengthened its Washington ties by placing former U.S. generals on the board and partnering with American Defense International. The goal: a mine ready to produce in the second half of 2026, just ahead of the Pentagon's cutoff.
Across the Pacific, Almonty's Sangdong tungsten mine in South Korea is already delivering. First-phase commissioning began in March 2026, ending a three-decade production hiatus. In the first quarter of 2026, revenue tripled to 25.4 million Canadian dollars, and adjusted EBITDA swung to 6.1 million Canadian dollars from a loss a year earlier. Analysts project annual revenue growth of 40% and expect the company to reach sustained profitability within three years.
The real surprise, however, came from the adjacent molybdenum deposit at Sangdong. On June 22, 2026, Almonty Korea Tungsten Corp. confirmed that reserves are sufficient for more than 60 years of production. A 12,000-meter drilling program across 26 sites is 37% complete, and assay results have matched historical estimates. CEO Lewis Black called the early data "very encouraging."
Should investors sell immediately? Or is it worth buying Almonty?
An offtake agreement with South Korean industrial giant SeAH M&S already locks in a buyer for the molybdenum output, sharply reducing commercial risk. That matters because South Korea currently imports over 90% of its molybdenum — a metal critical to aerospace, defense, nuclear energy, and semiconductor fabrication — from China. Almonty's project offers a domestic alternative.
To fund this two-pronged strategy, Almonty raised 800 million U.S. dollars in early June through convertible bonds due in 2031 with a 2.25% coupon. After expenses, net proceeds amount to roughly 773 million U.S. dollars. Management plans to channel a significant portion into general corporate purposes and potential acquisitions, with the rest supporting the Sangdong ramp-up.
Investors have taken note. The stock has climbed about 118% year-to-date and more than 440% over the past twelve months, trading at 26.28 Canadian dollars — still 21% below its 52-week high of 33.35 Canadian dollars. Analysts at Oppenheimer and D.A. Davidson both rate the shares a Buy with a $25 price target. D.A. Davidson points to a looming supply crisis: China still controls roughly 88% of global tungsten production and has slashed its APT exports from 782 tonnes to 243 tonnes year-over-year.
Almonty at a turning point? This analysis reveals what investors need to know now.
With global demand rising and mines outside China aging, Almonty is positioning itself as the only large producer capable of delivering new tungsten capacity before the Pentagon's deadline hits. The company has even moved its headquarters to Dillon, Montana, weaving itself deeper into the fabric of North America's critical-minerals supply chain.
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