Sangdong mine

Almonty Announces the Filing of Its Annual Audited Consolidated Financial Statements, MD&A and AIF for the Year Ended December 31, 2023 and $2.2M in Positive EBITDA From Mining Operations(1).

Retrieved on: 
Tuesday, April 2, 2024
Mining, Minerals, Natural Resources, Partnership, Panasqueira, KfW, Sangdong mine, Safety

The remarkable construction progress achieved throughout 2023 marks a significant milestone for the Almonty Korea Tungsten Project.

Key Points: 
  • The remarkable construction progress achieved throughout 2023 marks a significant milestone for the Almonty Korea Tungsten Project.
  • With the successful arrival of over 90% of the required machinery and equipment, the project is steadily taking shape.
  • The cornerstone of Plant Construction serves as a testament to our commitment to excellence and reinforces our dedication to meeting project milestones on schedule.
  • Together, we will create a lasting legacy and set new benchmarks in the industry with the ongoing support and partnership to continue this journey towards excellence”.

Almonty Provides Sangdong Mine Construction Update

Retrieved on: 
Monday, July 31, 2023
Mining, Minerals, Natural Resources, Classification, KfW, AII, SAG, US, Tungsten, Operating Industries Inc., Landfill, TSX, Safety, KfW IPEX-Bank, Rare-earth element, Bank, Sangdong mine

Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI.F), is pleased to provide a construction progress update for its Sangdong Mine Tungsten located in South Korea.

Key Points: 
  • Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI.F), is pleased to provide a construction progress update for its Sangdong Mine Tungsten located in South Korea.
  • In late June, the protection screen and reclaim feeders arrived at the new port of Busan from Metso:Outotec and will be transported to the warehouse at Sangdong within the next week.
  • Almonty is pleased to announce that it has received a further US$9.8 million in conjunction with the fifth drawdown on the US$75.1 million KfW IPEX-Bank (“KfW”) loan facility related to the construction of the Sangdong Mine.
  • We are pleased to be drawing down funds from our lending partners KfW in-line with the project finance facility.

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.

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.

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.

Sangdong Mine Operational Update and Second KfW Drawdown received

Retrieved on: 
Wednesday, August 24, 2022
Mining, Minerals, Natural Resources, KfW IPEX-Bank, Mining, CEO, AII, ALI, Engineering, Ventilation, OF, ANY, Sale, Person, Sangdong mine, Los Santos mine, Tungsten, Forward-looking statement, Compressed air, THIS, TSX, Operating Industries Inc., Landfill, THE, Weather, APT, Risk, IS, Terminology, Acquisition, Drainage, UPDATE, Rare-earth element, Risk management, Panasqueira, Almonty Industries

Earlier this month, the Sangdong region where the Companys Sangdong Mine is located in South Korea, was hit by some of the heaviest rain in decades.

Key Points: 
  • Earlier this month, the Sangdong region where the Companys Sangdong Mine is located in South Korea, was hit by some of the heaviest rain in decades.
  • Following this significant weather event, a technical audit was undertaken on the infrastructure which concluded no issues with the infrastructure.
  • Almonty is also pleased to note that the second drawdown from the KfW-IBEX Bank US$75.1 million project financing loan facility of US$4.1 million has been received in August.
  • We are also pleased to have received the second drawdown from our financing partners, KfW-IPEX Bank, under the US$75.1 million project financing loan facility which brings the total amount received to date to US$16.9 million, as scheduled.

Almonty Announces the Filing of Its Unaudited Interim Condensed Consolidated Financial Statements and MD&A for the Six Months Ended June 30, 2021

Retrieved on: 
Tuesday, August 17, 2021
Mining, Minerals, Natural Resources, Company, Terminology, ANY, KfW IPEX-Bank, UPDATE, Los Santos mine, Acquisition, Sangdong mine, Mining, IS, THIS, APT, OF, Person, Forward-looking statement, MTU, IPO, Carbon, Risk, News, ESG, Sale, THE, TSX, Risk management

The price of Tungsten has steadily been increasing for the past 12 months and is now up over 54% to US$315 per MTU.

Key Points: 
  • The price of Tungsten has steadily been increasing for the past 12 months and is now up over 54% to US$315 per MTU.
  • As we lag copper, all expectations are that pricing will continue to firm up through the rest of this year and into 2022.
  • Almonty has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events.
  • READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE.

Almonty Industries Inc. Announces That the Maturity Dates of Long-term Debt Totalling $54.1m Have Now Been Successfully Extended to Comfortably Past the Commissioning Date of the Sangdong Tungsten Project in Korea

Retrieved on: 
Thursday, March 18, 2021
Natural Resources, Other Natural Resources, Mining, Minerals, Companies, Chemistry, Physical sciences, Electronic design, Honeywell, Korea Tungsten Company, Tungsten, Almonty Industries, Sangdong mine

The Company is also pleased to announce the appointment of JH Kim as our CFO at Almonty Korea Tungsten, the Companys wholly-owned subsidiary in South Korea.

Key Points: 
  • The Company is also pleased to announce the appointment of JH Kim as our CFO at Almonty Korea Tungsten, the Companys wholly-owned subsidiary in South Korea.
  • Mr Kim has over 16 years experience as finance manager for the global manufacturing company Honeywell Korea and Honeywell Analytics Asia Pacific.
  • Almontys Chairman, President and CEO Lewis Black commented:
    As the final step prior to the financial closing of our Sangdong project, we have now successfully extended our long-term debt.
  • I would also like to welcome JH to the Company as our newly installed CFO for Almonty Korea Tungsten.

DGAP-News: Deutsche Rohstoff AG: Almonty signs contract for project financing

Retrieved on: 
Monday, December 7, 2020
Almonty Industries, Tungsten mining, Sangdong mine, KfW, Companies, Financial services, Banking

Almonty Industries announced that the Project Finance Agreement with KfW-IPEX Bank for the construction of the Korean Sangdong Mine was definitively signed today.

Key Points: 
  • Almonty Industries announced that the Project Finance Agreement with KfW-IPEX Bank for the construction of the Korean Sangdong Mine was definitively signed today.
  • The project financing has a volume of USD 75.1 million.
  • As part of the project financing, Plansee is also issuing guarantees to banks for almost USD 30 million to cover possible cost overruns and the equity financing of the project.
  • Plansee's guarantees reduces the equity share that Almonty must raise as part of the project financing to around USD 14.1 million.

Almonty Industries Inc. Provides Update for Its Sangdong Mine in South Korea

Retrieved on: 
Wednesday, October 21, 2020
Mining, Minerals, Natural Resources, Almonty Industries, Tungsten mining, Sangdong mine, Mining, OTC Markets Group, Companies, Industries

Almonty Industries Inc. (Almonty) (TSX: AII / OTCQX: ALMTF / Frankfurt: 1MR) is pleased to provide an update for its wholly-owned Sangdong Mine located in South Korea.

Key Points: 
  • Almonty Industries Inc. (Almonty) (TSX: AII / OTCQX: ALMTF / Frankfurt: 1MR) is pleased to provide an update for its wholly-owned Sangdong Mine located in South Korea.
  • The Company reports that it has received, from the South Korean government, an extension of its Extraction Rights permit to July 1, 2031.
  • Over the coming days, the orders for the long-lead-time items such as the crushing circuit, will be placed.
  • WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.