Almonty Industries

Almonty to Receive the US$13.7 Million Sixth Drawdown from KfW IPEX-Bank

Retrieved on: 
Tuesday, November 21, 2023
Mining, Minerals, Natural Resources, AII, KfW, TSX, KfW IPEX-Bank, Operating Industries Inc., Landfill, Cryptocurrency, Almonty Industries

Almonty Industries Inc. ("Almonty" or the "Company") (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI.F), through its wholly-owned South Korean subsidiary, Almonty Korea Tungsten Corporation (“AKTC”), is pleased to announce that it has received a fully executed Utilization Request for US$13.7 million in conjunction with the sixth drawdown on the US$75.1 million KfW IPEX-Bank (“KfW”) loan facility related to the construction of the Company’s Sangdong Mine in South Korea.

Key Points: 
  • Almonty Industries Inc. ("Almonty" or the "Company") (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI.F), through its wholly-owned South Korean subsidiary, Almonty Korea Tungsten Corporation (“AKTC”), is pleased to announce that it has received a fully executed Utilization Request for US$13.7 million in conjunction with the sixth drawdown on the US$75.1 million KfW IPEX-Bank (“KfW”) loan facility related to the construction of the Company’s Sangdong Mine in South Korea.
  • This US$13.7 million drawdown is scheduled for release on November 24, 2023.
  • “As planned and on time, Almonty will now received its sixth drawdown on its US$75.1 million loan facility with KfW, bringing the total amount of drawdowns to date to US$53.9 million,” said Lewis Black, President and CEO of Almonty.

Almonty Partners with Korea Telecom to Revolutionize Mine Safety While Also Demonstrating Commitment to ESG Compliance

Retrieved on: 
Tuesday, July 11, 2023
Technology, Mobile, Wireless, Other Technology, Telecommunications, Professional Services, Mining, Minerals, Hardware, Environmental, Social and Governance (ESG), Natural Resources, Bluetooth Low Energy, Communication, Partnership, AKTC, KT, Counties of South Sudan, KTC, AII, Korean Ministry of Culture, KT Corporation, Data analysis, Mine safety, Operating Industries Inc., Landfill, TSX, ESG, AI, Environment, Rest, Safety, Sangdong mine, Rare-earth element, Risk management, Mobile phone, Almonty Industries

Developed in partnership with KT, this innovative solution aims to enhance worker safety and promote efficient mining practices which is indicative of AKTC’s strong commitment to environmental, social, and governance (ESG) compliance.

Key Points: 
  • Developed in partnership with KT, this innovative solution aims to enhance worker safety and promote efficient mining practices which is indicative of AKTC’s strong commitment to environmental, social, and governance (ESG) compliance.
  • This AI-based mine safety system enables real-time monitoring of worker safety, emergency messaging, and data analysis allowing mine operators to take proactive safety measures.
  • In addition to improving safety standards, the Mine Safety DX technology also contributes to the efficient functioning of mining operations.
  • The implementation of Mine Safety DX at the Sangdong Mine further solidifies AKTC’s commitment to responsible and sustainable mining practices.

Construction Update at Sangdong Tungsten Mine

Retrieved on: 
Wednesday, June 7, 2023
Mining, Minerals, Natural Resources, Ball mill, Filter press, Metso Outotec, Key, AII, Tungsten, Operating Industries Inc., Landfill, TSX, Safety, Pulp and paper industry, Almonty Industries

Almonty Industries Inc. ("Almonty" or the "Company") (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI.F) is pleased to provide an update on the progress of its Sangdong Tungsten Mine.

Key Points: 
  • Almonty Industries Inc. ("Almonty" or the "Company") (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI.F) is pleased to provide an update on the progress of its Sangdong Tungsten Mine.
  • Lewis Black, Chairman, CEO & President of Almonty Industries Inc. commented:
    “We have made solid progress at the Sangdong Tungsten Project throughout May 2023.
  • Almonty remains fully committed to completing the project successfully while upholding the highest standards of safety, quality, and environmental responsibility.
  • The Pebble Crusher and Primary Jaw Crusher, essential components for the project, have successfully made their way to Sangdong.

Plans to Reopen Los Santos Mine Utilizing Our Flotation Technology Developed for Our Sangdong Tungsten Mine

Retrieved on: 
Monday, May 15, 2023
Mining, Minerals, Natural Resources, AII, Los Santos mine, Operating Industries Inc., Landfill, JORC, TSX, Maintenance, Panasqueira, Nightclub, Almonty Industries

Los Santos has been in planned care and maintenance since 2020.

Key Points: 
  • Los Santos has been in planned care and maintenance since 2020.
  • Since that time, Almonty has been undertaking studies into the re-commencement of production from Los Santos via the retreating of tailings, utilizing the Company’s flotation technology developed for our Sangdong Tungsten Mine.
  • We have now successfully established that our Sangdong process can commercially treat the Los Santos tails, and with a minimal amount of adjustment to the already existing flotation circuit at Los Santos, we will now begin to plan for bringing the Los Santos Mine back into production.
  • This re-opening will not distract us from the build in South Korea, as all key members of Los Santos are still in place.

Construction Update at Sangdong Tungsten Mine

Retrieved on: 
Monday, May 1, 2023
Mining, Minerals, Natural Resources, Semiconductor, Democracy, Ball mill, Metso Outotec, HSE, EPC, Light, Multimedia, AII, Philosophy, US, Documentation, Engineering, Operating Industries Inc., Landfill, TSX, Tungsten, Environment, Safety, Rare-earth element, Renewable energy, Oil, Almonty Industries

Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI.F) is pleased to announce a construction and financing update in relation to its Sangdong Tungsten Mine.

Key Points: 
  • Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI.F) is pleased to announce a construction and financing update in relation to its Sangdong Tungsten Mine.
  • In April 2023, engineering staff from the Sangdong Tungsten Mine team and members of the EPC consortium made a field trip to Almonty’s tungsten mines and processing plants in Portugal and Spain to better implement ideas and philosophy in the design and engineering of the main processing plant and pastefill plant at the Sangdong Tungsten Mine.
  • This is aimed at exceeding national standards and enhancing the HSE standards at the mine and at the site of the Sangdong Tungsten Mine.
  • The power supply expansion is expected to provide stable power to the Sangdong Tungsten Mine’s surface and underground infrastructure, thereby improving work efficiency and production.

Fourth Sangdong Tungsten Mine Loan Facility Drawdown

Retrieved on: 
Monday, April 3, 2023
Mining, Minerals, Natural Resources, Term Asset-Backed Securities Loan Facility, Sangdong mine, KFW, Democracy, UPDATE, ALI, Electricity, THIS, KfW, Person, Sale, AII, KfW IPEX-Bank, IS, OF, Acquisition, Risk, Engineering, Water, Operating Industries Inc., Landfill, ANY, TSX, ESG, APT, Los Santos mine, Loan, Rare-earth element, Bank, Management, Cryptocurrency, Risk management, Almonty Industries, Panasqueira

Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI) is pleased to announce that it has completed its fourth scheduled drawdown of the total US$75.1 million KfW IPEX-Bank project finance facility for its Sangdong Tungsten Mine (the Loan Facility) located in South Korea.

Key Points: 
  • Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI) is pleased to announce that it has completed its fourth scheduled drawdown of the total US$75.1 million KfW IPEX-Bank project finance facility for its Sangdong Tungsten Mine (the Loan Facility) located in South Korea.
  • The total amount drawn under the Loan Facility now stands at US$32.3 million.
  • Almonty’s Chairman, President and CEO Lewis Black commented:
    “We are pleased to have received the fourth drawdown from our financing partners, KfW IPEX-Bank, under the US$75.1 million project financing loan facility.
  • The terms of the Loan Facility are favourable to the Company and the Sangdong Mine is targeted to be in operation well before the Loan Facility matures and becomes repayable.

Successful Placement of CDI’s Raises A$3.5 Million

Retrieved on: 
Wednesday, March 22, 2023
Mining, Minerals, Natural Resources, Lead, Minority, CDI, MI, Placement, ALI, Powder, CAD, ASX, AII, Indian stock exchange, TSC Industries, Inc. v. Northway, Inc., TSX, Multilateral, Security (finance), Bank, Almonty Industries, Plansee

The Placement CDI’s and Options are expected to settle on or about Monday 27 March 2023.

Key Points: 
  • The Placement CDI’s and Options are expected to settle on or about Monday 27 March 2023.
  • The Placement CDI’s issued will rank equally with existing CDI’s and common shares of the Company (“Common Shares”) on issue.
  • The closing of the Placement is subject to receipt of all necessary regulatory approvals, including the acceptance by the TSX and ASX.
  • RM Corporate Finance Pty Ltd acted as Lead Manager to the Placement and will be paid a total fee of 6% of the gross proceeds raised in the Placement.

Third Sangdong Loan Facility Drawdown & Project Update

Retrieved on: 
Tuesday, November 15, 2022
Mining, Minerals, Natural Resources, ALI, Sale, Consultant, Los Santos mine, Sangdong mine, Term Asset-Backed Securities Loan Facility, Mining, KfW IPEX-Bank, TSX, ANY, THIS, TSC Industries, Inc. v. Northway, Inc., Acquisition, Person, Tungsten, KfW, Loan, OF, APT, AII, Risk, Hatch, IS, UPDATE, Bank, Management, Cryptocurrency, Risk management, Panasqueira, Almonty Industries

Almonty Industries Inc. (Almonty or the Company) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI), is pleased to announce it has completed its third scheduled drawdown of the total US$75.1 million KfW IPEX-Bank project finance facility for its Sangdong Tungsten Mine (the Loan Facility), and to provide a project update from the Chairman of the Company.

Key Points: 
  • Almonty Industries Inc. (Almonty or the Company) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI), is pleased to announce it has completed its third scheduled drawdown of the total US$75.1 million KfW IPEX-Bank project finance facility for its Sangdong Tungsten Mine (the Loan Facility), and to provide a project update from the Chairman of the Company.
  • The Company is pleased to report that the drawdowns are being completed on schedule as per the project drawdown agreement.
  • Almontys Chairman, President and CEO Lewis Black commented:
    We are pleased to have received the third drawdown from our financing partners, KfW IPEX-Bank, under the US$75.1 million project financing loan facility which are occurring in-line with the drawdown schedule which is occurring on time as planned.
  • The terms of the Loan Facility are favourable to the Company and the Sangdong Mine is targeted to be in operation well before the Loan Facility matures and becomes repayable.

Almonty Announces the Filing of Its Unaudited Interim Condensed Consolidated Financial Statements and MD&A for the Three and Nine Months Ended September 30, 2022 and Another Quarter of Positive EBITDA From Mining Operations(1).

Retrieved on: 
Tuesday, November 15, 2022
Mining, Minerals, Natural Resources, Sale, Los Santos mine, Mining, TSX, ANY, USD, THIS, Acquisition, Person, Tungsten, CAD, KfW, OF, APT, Risk, IS, UPDATE, Audit, Risk management, Panasqueira, Almonty Industries

Further information about Almontys activities may be found at www.almonty.com and under Almontys profile at www.sedar.com .

Key Points: 
  • Further information about Almontys activities may be found at www.almonty.com and under Almontys profile at www.sedar.com .
  • These statements and information are based on managements beliefs, estimates and opinions on the date that statements are made and reflect Almontys current expectations.
  • Almonty believes that securities analysts, investors and other interested parties frequently use non-GAAP financial measures in the evaluation of issuers.
  • Almontys management also uses non-GAAP financial measures in order to facilitate operating performance comparisons from period to period.

Sangdong Downstream Extension Project Progressing

Retrieved on: 
Wednesday, September 21, 2022
Engineering, Chemicals, Plastics, Mining, Minerals, Manufacturing, Natural Resources, Other Manufacturing, KfW IPEX-Bank, KfW, Hatch, ALI, Engineering, TSX, Risk, ANY, Sale, Â, THE, AII, Company, Consultant, Acquisition, Los Santos mine, Operating Industries Inc., Landfill, KFW, Industry, Mining, Tungsten, Person, OF, Letter, Forward-looking statement, EPC, Electricity, LOI, APT, Terminology, IS, UPDATE, EV, THIS, Water, Rare-earth element, Cryptocurrency, Risk management, Almonty Industries, Panasqueira

As announced on March 30, 2022, Almonty is investigating the construction of a vertically integrated nano tungsten oxide downstream processing plant (Sangdong Downstream Extension Project) to supply the South Korean battery anode and cathode manufacturing industry.

Key Points: 
  • As announced on March 30, 2022, Almonty is investigating the construction of a vertically integrated nano tungsten oxide downstream processing plant (Sangdong Downstream Extension Project) to supply the South Korean battery anode and cathode manufacturing industry.
  • Almonty is also pleased to advise that it has determined that the Sangdong Downstream Extension Project processing facility should be located at the Seok Moon Industrial Complex in South Korea.
  • In Q4 of this year, key board and staff members will visit the proposed location of the Sangdong Downstream Extension Project, along with KfW and its independent consultants, Hatch, to progress the LOI to more definitive agreements.
  • The Company looks forward to keeping shareholders informed as the Sangdong Downstream Extension Project progresses.