Almonty Couples Sangdong's Commercial Green Light With a $300 Million Buyback Plan
Published on 09/22/2026 at 16:31 | Editorial boerse-global.de
Almonty Industries has moved on two fronts at once, pairing the long-awaited operational clearance of its flagship tungsten asset with a capital-return program that management says is meant to underpin the share price and reinforce confidence in the group's longer-term trajectory.
Buyback Mandate Covers Up to 14.4 Million Shares
Directors signed off on the repurchase authorization on August 17, clearing the company to acquire as many as 14,400,000 common shares — a figure equal to roughly 5 percent of the shares outstanding as of the August 14 record date. The program carries a total envelope of up to USD 300,000,000 and will run across a multi-year window that got underway in late August. Regulatory filings indicate the mandate hands management extra room to maneuver, letting the company time its purchases flexibly and respond to swings in the market.
Sangdong Clears Its Final Regulatory Hurdle
The operational headline came from South Korea, where the Sangdong mine secured final operating certification for its processing and crushing circuits. The approval, granted the previous Thursday, opens the door to full commercial output of tungsten concentrate at the site and marks the close of a decisive development phase. Market participants had treated the sign-off as the precondition for shifting the operation into regular production and, eventually, delivering larger volumes of the strategically vital industrial metal to global buyers.
Investors greeted the news warmly: the stock advanced 5.9 percent on Monday and finished the session at EUR 12.75. The lift followed a softer stretch for the shares, which nonetheless remain up 61 percent since the start of the year.
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Spanish Tailings Deal and Rwandan Expansion
Running alongside the Korean milestone, Almonty has been broadening its supply base elsewhere. A multi-year take-or-pay contract with Wolfram Bergbau und Hütten AG, a subsidiary of the Sandvik group, targets the reprocessing of existing tailings. The agreement includes a conditional advance payment of USD 3.0 million for offtake rights and covers at least roughly 1,720 tonnes of contained tungsten trioxide (WO?). The arrangement is structured to purchase ore, pre-concentrates and tailings material from local licensees for further processing, with mobile treatment units stationed near the tailings among the planned infrastructure.
On the African continent, the group deepened its footprint as the state of Rwanda took over the remaining 25 percent stake. In exchange, the joint venture received the Shyorongi exploration concession together with a minerals processing license.
Valuation Still in Flux
The combination of partnerships and operating permits has visibly strengthened the miner's foundation, leaving it with a geographically diversified portfolio in a commodity segment defined by supply bottlenecks. For market participants, the focus now shifts to how efficiently Almonty converts the approved volumes into actual output — above all at Sangdong, the company's central project and the yardstick by which its industrial-scale concentrate processing will be judged.
Trading in the shares remains choppy. In today's session the stock slipped 1.4 percent to EUR 12.57, putting the group's market capitalization at EUR 2.74 billion.
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