{"success":true,"data":{"pressRelease":{"id":"148321","rtpr_id":"nBw2swhdqa-20260921","ticker":"ALM","exchange":"NASDAQ","all_tickers":["ALM"],"title":"Almonty’s Sangdong Processing Plant Receives Final Operational Certification -- Phase I is Now Commercially Operational","author":"Business Wire","published_at":"2026-09-21T11:30:00.148Z","article_body":"Almonty’s Sangdong Processing Plant Receives Final Operational Certification\n-- Phase I is Now Commercially Operational\n\nMining facility inspection certificates issued September 17, 2026 authorize\nAlmonty to commercially operate the Sangdong processing plant and crushing\nfacilities and commence sales of tungsten concentrate\n\nAlmonty Industries Inc. (“Almonty” or the “Company”) (NASDAQ: ALM)\n(Frankfurt: ALI1), a leading global producer of tungsten concentrate, today\nannounced that it has received mining facility inspection certificates for the\nprocessing plant and crushing facilities at the Sangdong Mine (“Sangdong”)\nin Yeongwol, Gangwon Province, South Korea. Issued September 17, 2026, the\ncertificates authorize Almonty to commercially operate the facilities. This is\nthe final administrative requirement necessary before commercially processing\ntungsten concentrate at Sangdong for the South Korean market and export\noverseas.\n\nThe concentrate Sangdong produces is already substantially contracted. In July\n2026, Almonty amended its long-term offtake agreement with Global Tungsten\n& Powders LLC (“GTP”), a member of Austria’s Plansee Group,\nextending the term to 21 years from first delivery and increasing total\ncontracted volume to 4,410,000 metric tonne units (“MTU”) of tungsten\nconcentrate, with minimum contracted volumes of 210,000 MTU per year following\nramp-up. The agreement covers more than 90% of Phase I production from\nSangdong. Under South Korean mining regulations, facilities and equipment must\npass inspection before they can be placed into operation. Following a\nsatisfactory inspection, the certificates were issued on September 17, 2026.\nWith the certificates issued, Almonty is now able to crush and process\ntungsten ore mined at Sangdong into saleable tungsten concentrate, and to\nplace that concentrate with customers in South Korea and abroad. The\ncertification is the final step in Sangdong’s transition from facility\nconstruction, trial operation and commissioning to commercial production.\n\nManagement Commentary\n\nLewis Black, Chairman, President and Chief Executive Officer of Almonty,\ncommented: “Sangdong now has the clearance it needs to commercially operate\nits processing plant and to sell what that plant produces. That distinction\nmatters. We have been running ore through the plant since June, 2026; now we\nare permitted to turn that material into concentrate that can be invoiced,\nshipped and delivered into South Korea and into export markets.\n\n“The timing is not lost on us. Tungsten prices are at historic highs, China\nhas tightened its grip on the material the Western industrial base depends on,\nand commencing January 2027, United States defense procurement rules will look\nall the way back to where the ore was mined. Sangdong is one of very few\nassets anywhere that can answer that question with a Western address and the\nscale to matter. With more than 90% of our Phase I production already\ncontracted for 21 years from first delivery, the task in front of us is a\nsimple one: operate the plant safely, ramp it steadily and deliver.”\n\nAbout Almonty\n\nAlmonty (NASDAQ: ALM) (Frankfurt: ALI1) is a leading supplier of conflict-free\ntungsten – a strategic metal critical to the defense and advanced technology\nsectors. As geopolitical tensions heighten, tungsten has become essential for\narmor, munitions, and electronics manufacturing. Almonty’s flagship Sangdong\nTungsten Mine in South Korea, historically one of the world’s largest and\nhighest-grade tungsten deposits, is expected to be a major contributor to the\nglobal non-China tungsten supply chain upon reaching full capacity, directly\naddressing critical supply vulnerabilities highlighted by recent U.S. defense\nprocurement bans and export restrictions by China. With established operations\nin Portugal and additional projects in Spain and the United States, Almonty is\nstrategically aligned to meet rapidly rising demand from Western allies\ncommitted to supply-chain security and defense readiness. To learn more,\nplease visit https://almonty.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Falmonty.com&esheet=54607360&newsitemid=20260921853723&lan=en-US&anchor=https%3A%2F%2Falmonty.com&index=1&md5=a006ffe836a28d4c2e876e17f4bb1fc1)\n.\n\nLegal Notice\n\nThe release, publication or distribution of this announcement in certain\njurisdictions may be restricted by law, and persons in such jurisdictions into\nwhich this announcement is released, published or distributed should inform\nthemselves about and observe such restrictions.\n\nCautionary Note Regarding Forward-Looking Information\n\nThis news release contains “forward-looking statements” and\n“forward-looking information” within the meaning of applicable securities\nlaws. All statements, other than statements of present or historical facts,\nare forward-looking statements. Forward-looking statements involve known and\nunknown risks, uncertainties and assumptions and accordingly, actual results\ncould differ materially from those expressed or implied in such statements.\nYou are hence cautioned not to place undue reliance on forward-looking\nstatements. Forward-looking statements are typically identified by words such\nas “plan”, “development”, “growth”, “continued”,\n“intentions”, “expectations”, “emerging”, “evolving”,\n“strategy”, “opportunities”, “anticipated”, “trends”,\n“potential”, “outlook”, “ability”, “additional”, “on\ntrack”, “prospects”, “viability”, “estimated”, “reaches”,\n“enhancing”, “strengthen”, “target”, “believes”, “next\nsteps” or variations of such words and phrases or statements that certain\nactions, events or results “may”, “could”, “would”, “might” or\n“will” be taken, occur or be achieved.\n\nForward-looking statements in this news release include, but are not limited\nto, statements concerning the commencement and ramp-up of commercial\nproduction at the Sangdong Mine and the timing thereof, the operation of the\nSangdong processing plant and crushing facilities, the production of saleable\ntungsten concentrate and the sale and export of that concentrate, the\ncompletion of the remaining administrative procedures relating to the\noperation of the Sangdong Mine, the delivery of contracted volumes under the\nCompany’s offtake agreement with GTP and the revenue expected to be\ngenerated thereunder, future APT pricing, the expected contribution of the\nSangdong Mine to the global non-China tungsten supply chain, and the\nanticipated effects of changes to United States defense procurement rules.\nForward-looking statements are based upon certain assumptions and other\nimportant factors that, if untrue, could cause actual results to be materially\ndifferent from future results expressed or implied by such statements. There\ncan be no assurance that forward-looking statements will prove to be accurate.\nKey assumptions upon which the Company’s forward-looking information is\nbased include, without limitation, the successful and stable operation of the\nSangdong processing plant and crushing facilities, the completion of the\nremaining administrative procedures relating to the operation of the Sangdong\nMine, the availability and grade of ore feed, the ramp-up of the Sangdong Mine\ntoward full Phase I capacity, the performance by counterparties of their\nobligations under the Company’s offtake arrangement, and prevailing tungsten\nand APT pricing.\n\nForward-looking statements are also subject to risks and uncertainties facing\nthe Company’s business, including, without limitation, the risk that the\nremaining administrative procedures are not completed on the timeline\nanticipated or at all, the risk that the processing plant does not perform or\nramp as expected, commodity prices for tungsten, and the risks identified in\nthe Company’s annual information form for the year ended December 31, 2025\ndated March 18, 2026 under the heading “Risk Factors” and in the\nCompany’s management’s discussion and analysis for the three and six\nmonths ended June 30, 2026 and 2025 dated August 11, 2026 under the heading\n“Risks and Uncertainties”.\n\nAlthough Almonty has attempted to identify important factors that could cause\nactual results, level of activity, performance or achievements to differ\nmaterially from those contained in forward-looking statements, the foregoing\nlist of material factors is not exhaustive, and there may be other factors\nthat could cause results, level of activity, performance or achievements not\nto be as anticipated, estimated or intended. There can be no assurance that\nforward-looking statements will prove to be accurate, and even if events or\nresults described in the forward-looking statements are realized or\nsubstantially realized, there can be no assurance that they will have the\nexpected consequences to, or effects on, Almonty. Accordingly, readers should\nnot place undue reliance on forward-looking statements and are cautioned that\nactual outcomes may vary. When relying on Almonty’s forward-looking\nstatements and information to make decisions, investors and others should\ncarefully consider the foregoing factors and other uncertainties and potential\nevents.\n\nTHE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE\nEXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY,\nIS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE\nIMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS\nINFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT\nUNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, WHETHER AS A\nRESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, EXCEPT AS REQUIRED IN\nACCORDANCE WITH APPLICABLE LAWS.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260921853723/en/\n(https://www.businesswire.com/news/home/20260921853723/en/)\n\nCompany Contact \n\n\n\nLewis Black\n\nChairman, President & CEO\n\n(647) 438-9766\n\ninfo@almonty.com \n(mailto:info@almonty.com) \n\n\nInvestor Relations Contact \n\n\n\nLucas A. Zimmerman\n\nManaging Director\n\nMZ Group – MZ North America\n\n(949) 259-4987\n\nALM@mzgroup.us \n(mailto:ALM@mzgroup.us) \nwww.mzgroup.us\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.mzgroup.us&esheet=54607360&newsitemid=20260921853723&lan=en-US&anchor=www.mzgroup.us&index=2&md5=392da3577530b933ecc488a1c2ab2604)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw2swhdqa-20260921","title":"Almonty’s Sangdong Processing Plant Receives Final Operational Certification -- Phase I is Now Commercially Operational","author":"Business Wire","ticker":"ALM","created":"2026-09-21T11:30:00.148Z","tickers":["ALM"],"exchange":"NASDAQ","article_body":"Almonty’s Sangdong Processing Plant Receives Final Operational Certification\n-- Phase I is Now Commercially Operational\n\nMining facility inspection certificates issued September 17, 2026 authorize\nAlmonty to commercially operate the Sangdong processing plant and crushing\nfacilities and commence sales of tungsten concentrate\n\nAlmonty Industries Inc. (“Almonty” or the “Company”) (NASDAQ: ALM)\n(Frankfurt: ALI1), a leading global producer of tungsten concentrate, today\nannounced that it has received mining facility inspection certificates for the\nprocessing plant and crushing facilities at the Sangdong Mine (“Sangdong”)\nin Yeongwol, Gangwon Province, South Korea. Issued September 17, 2026, the\ncertificates authorize Almonty to commercially operate the facilities. This is\nthe final administrative requirement necessary before commercially processing\ntungsten concentrate at Sangdong for the South Korean market and export\noverseas.\n\nThe concentrate Sangdong produces is already substantially contracted. In July\n2026, Almonty amended its long-term offtake agreement with Global Tungsten\n& Powders LLC (“GTP”), a member of Austria’s Plansee Group,\nextending the term to 21 years from first delivery and increasing total\ncontracted volume to 4,410,000 metric tonne units (“MTU”) of tungsten\nconcentrate, with minimum contracted volumes of 210,000 MTU per year following\nramp-up. The agreement covers more than 90% of Phase I production from\nSangdong. Under South Korean mining regulations, facilities and equipment must\npass inspection before they can be placed into operation. Following a\nsatisfactory inspection, the certificates were issued on September 17, 2026.\nWith the certificates issued, Almonty is now able to crush and process\ntungsten ore mined at Sangdong into saleable tungsten concentrate, and to\nplace that concentrate with customers in South Korea and abroad. The\ncertification is the final step in Sangdong’s transition from facility\nconstruction, trial operation and commissioning to commercial production.\n\nManagement Commentary\n\nLewis Black, Chairman, President and Chief Executive Officer of Almonty,\ncommented: “Sangdong now has the clearance it needs to commercially operate\nits processing plant and to sell what that plant produces. That distinction\nmatters. We have been running ore through the plant since June, 2026; now we\nare permitted to turn that material into concentrate that can be invoiced,\nshipped and delivered into South Korea and into export markets.\n\n“The timing is not lost on us. Tungsten prices are at historic highs, China\nhas tightened its grip on the material the Western industrial base depends on,\nand commencing January 2027, United States defense procurement rules will look\nall the way back to where the ore was mined. Sangdong is one of very few\nassets anywhere that can answer that question with a Western address and the\nscale to matter. With more than 90% of our Phase I production already\ncontracted for 21 years from first delivery, the task in front of us is a\nsimple one: operate the plant safely, ramp it steadily and deliver.”\n\nAbout Almonty\n\nAlmonty (NASDAQ: ALM) (Frankfurt: ALI1) is a leading supplier of conflict-free\ntungsten – a strategic metal critical to the defense and advanced technology\nsectors. As geopolitical tensions heighten, tungsten has become essential for\narmor, munitions, and electronics manufacturing. Almonty’s flagship Sangdong\nTungsten Mine in South Korea, historically one of the world’s largest and\nhighest-grade tungsten deposits, is expected to be a major contributor to the\nglobal non-China tungsten supply chain upon reaching full capacity, directly\naddressing critical supply vulnerabilities highlighted by recent U.S. defense\nprocurement bans and export restrictions by China. With established operations\nin Portugal and additional projects in Spain and the United States, Almonty is\nstrategically aligned to meet rapidly rising demand from Western allies\ncommitted to supply-chain security and defense readiness. To learn more,\nplease visit https://almonty.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Falmonty.com&esheet=54607360&newsitemid=20260921853723&lan=en-US&anchor=https%3A%2F%2Falmonty.com&index=1&md5=a006ffe836a28d4c2e876e17f4bb1fc1)\n.\n\nLegal Notice\n\nThe release, publication or distribution of this announcement in certain\njurisdictions may be restricted by law, and persons in such jurisdictions into\nwhich this announcement is released, published or distributed should inform\nthemselves about and observe such restrictions.\n\nCautionary Note Regarding Forward-Looking Information\n\nThis news release contains “forward-looking statements” and\n“forward-looking information” within the meaning of applicable securities\nlaws. All statements, other than statements of present or historical facts,\nare forward-looking statements. Forward-looking statements involve known and\nunknown risks, uncertainties and assumptions and accordingly, actual results\ncould differ materially from those expressed or implied in such statements.\nYou are hence cautioned not to place undue reliance on forward-looking\nstatements. Forward-looking statements are typically identified by words such\nas “plan”, “development”, “growth”, “continued”,\n“intentions”, “expectations”, “emerging”, “evolving”,\n“strategy”, “opportunities”, “anticipated”, “trends”,\n“potential”, “outlook”, “ability”, “additional”, “on\ntrack”, “prospects”, “viability”, “estimated”, “reaches”,\n“enhancing”, “strengthen”, “target”, “believes”, “next\nsteps” or variations of such words and phrases or statements that certain\nactions, events or results “may”, “could”, “would”, “might” or\n“will” be taken, occur or be achieved.\n\nForward-looking statements in this news release include, but are not limited\nto, statements concerning the commencement and ramp-up of commercial\nproduction at the Sangdong Mine and the timing thereof, the operation of the\nSangdong processing plant and crushing facilities, the production of saleable\ntungsten concentrate and the sale and export of that concentrate, the\ncompletion of the remaining administrative procedures relating to the\noperation of the Sangdong Mine, the delivery of contracted volumes under the\nCompany’s offtake agreement with GTP and the revenue expected to be\ngenerated thereunder, future APT pricing, the expected contribution of the\nSangdong Mine to the global non-China tungsten supply chain, and the\nanticipated effects of changes to United States defense procurement rules.\nForward-looking statements are based upon certain assumptions and other\nimportant factors that, if untrue, could cause actual results to be materially\ndifferent from future results expressed or implied by such statements. There\ncan be no assurance that forward-looking statements will prove to be accurate.\nKey assumptions upon which the Company’s forward-looking information is\nbased include, without limitation, the successful and stable operation of the\nSangdong processing plant and crushing facilities, the completion of the\nremaining administrative procedures relating to the operation of the Sangdong\nMine, the availability and grade of ore feed, the ramp-up of the Sangdong Mine\ntoward full Phase I capacity, the performance by counterparties of their\nobligations under the Company’s offtake arrangement, and prevailing tungsten\nand APT pricing.\n\nForward-looking statements are also subject to risks and uncertainties facing\nthe Company’s business, including, without limitation, the risk that the\nremaining administrative procedures are not completed on the timeline\nanticipated or at all, the risk that the processing plant does not perform or\nramp as expected, commodity prices for tungsten, and the risks identified in\nthe Company’s annual information form for the year ended December 31, 2025\ndated March 18, 2026 under the heading “Risk Factors” and in the\nCompany’s management’s discussion and analysis for the three and six\nmonths ended June 30, 2026 and 2025 dated August 11, 2026 under the heading\n“Risks and Uncertainties”.\n\nAlthough Almonty has attempted to identify important factors that could cause\nactual results, level of activity, performance or achievements to differ\nmaterially from those contained in forward-looking statements, the foregoing\nlist of material factors is not exhaustive, and there may be other factors\nthat could cause results, level of activity, performance or achievements not\nto be as anticipated, estimated or intended. There can be no assurance that\nforward-looking statements will prove to be accurate, and even if events or\nresults described in the forward-looking statements are realized or\nsubstantially realized, there can be no assurance that they will have the\nexpected consequences to, or effects on, Almonty. Accordingly, readers should\nnot place undue reliance on forward-looking statements and are cautioned that\nactual outcomes may vary. When relying on Almonty’s forward-looking\nstatements and information to make decisions, investors and others should\ncarefully consider the foregoing factors and other uncertainties and potential\nevents.\n\nTHE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE\nEXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY,\nIS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE\nIMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS\nINFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT\nUNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, WHETHER AS A\nRESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, EXCEPT AS REQUIRED IN\nACCORDANCE WITH APPLICABLE LAWS.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260921853723/en/\n(https://www.businesswire.com/news/home/20260921853723/en/)\n\nCompany Contact \n\n\n\nLewis Black\n\nChairman, President & CEO\n\n(647) 438-9766\n\ninfo@almonty.com \n(mailto:info@almonty.com) \n\n\nInvestor Relations Contact \n\n\n\nLucas A. Zimmerman\n\nManaging Director\n\nMZ Group – MZ North America\n\n(949) 259-4987\n\nALM@mzgroup.us \n(mailto:ALM@mzgroup.us) \nwww.mzgroup.us\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.mzgroup.us&esheet=54607360&newsitemid=20260921853723&lan=en-US&anchor=www.mzgroup.us&index=2&md5=392da3577530b933ecc488a1c2ab2604)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-09-21T11:30:00.1882995Z","server_sent_at_ms":1789990200188},"received_at":"2026-09-21T11:30:00.329Z","source_url":"https://www.businesswire.com/news/home/20260921853723/en/"},"analysis":{"id":"137034","press_release_id":"148321","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["More than 90% of Phase I production depends on a single offtake counterparty (Global Tungsten & Powders / Plansee Group) - concentration and counterparty-performance risk","Forward-looking statements flag that remaining administrative procedures for the broader Sangdong Mine and plant ramp-up/ore-grade risks are still outstanding","Revenue is exposed to tungsten pricing, which management itself notes is currently at historic highs - downside sensitivity if prices normalize"],"eventType":"operations_update","narrative":"Almonty Industries has received mining facility inspection certificates for the Sangdong processing plant and crushing facilities in South Korea, issued September 17, 2026, making Phase I of the tungsten mine commercially operational.\n\nThe certificates are the final administrative requirement before commercial production, meaning ore that has been running through the plant since June 2026 can now be converted into saleable tungsten concentrate and invoiced, shipped and delivered into South Korea and export markets.\n\nMore than 90% of Phase I production is already contracted under an offtake agreement with Global Tungsten & Powders, a member of Austria's Plansee Group, amended in July 2026 to run 21 years from first delivery with total contracted volume of 4,410,000 MTU and minimum annual volumes of 210,000 MTU following ramp-up.\n\nThe timing is strategically favorable: tungsten prices are at historic highs, China has tightened export restrictions, and US defense procurement rules effective January 2027 will trace ore origin back to the mine, positioning Sangdong as one of very few large-scale non-China tungsten sources with a Western address.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Almonty's Sangdong mine is now commercially operational - the last pre-revenue gate is cleared with >90% of Phase I output contracted for 21 years just as China export curbs and January 2027 US defense sourcing rules lift demand for non-China tungsten."},"keyFigures":{"customDimensions":{"offtake_term_years":21,"certificates_issued":"September 17, 2026","minimum_annual_volume_mtu":210000,"total_contracted_volume_mtu":4410000,"phase1_production_contracted":">90%","ore_processing_underway_since":"June 2026","us_defense_procurement_rules_effective":"January 2027"}},"quotedText":"Sangdong now has the clearance it needs to commercially operate its processing plant and to sell what that plant produces. That distinction matters.","namedEntities":{"people":[{"name":"Lewis Black","role":"Chairman, President & CEO of Almonty"},{"name":"Lucas A. Zimmerman","role":"Managing Director, MZ Group - MZ North America (investor relations contact)"}],"products":["tungsten concentrate"],"companies":[{"name":"Almonty Industries Inc.","ticker":"ALM","relationship":"filer - tungsten producer"},{"name":"Global Tungsten & Powders LLC (GTP)","relationship":"offtake customer"},{"name":"Plansee Group","relationship":"Austrian parent of offtake customer GTP"},{"name":"MZ Group - MZ North America","relationship":"investor relations agency"}],"dollarAmounts":[]},"materialImpact":{"score":4,"reasoning":"The flagship Sangdong mine has cleared its final regulatory hurdle and is now commercially operational, converting a development-stage asset into a revenue-generating producer with more than 90% of Phase I output already contracted for 21 years. Transformative operational inflection for the company, though not a binary market event on the order of M&A or an FDA decision."},"tickerRelevance":{"others":[{"ticker":"ALI1","relevance":"Frankfurt Stock Exchange listing of the filer (Almonty)"}],"primary":"ALM"},"globalImportance":38,"audienceRelevance":28,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small/mid-cap NASDAQ mining","eventGravity":"flagship asset reaches commercial production (development-to-revenue inflection)","sectorWeight":"strategic materials - tungsten/critical minerals for defense","macroTailwind":"China export restrictions plus US defense procurement rules effective January 2027","householdBrandBoost":false,"retailFavoriteBoost":"moderate - defense and critical-minerals supply-chain theme"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":4,"narrative":"Almonty Industries has received mining facility inspection certificates for the Sangdong processing plant and crushing facilities in South Korea, issued September 17, 2026, making Phase I of the tungsten mine commercially operational.\n\nThe certificates are the final administrative requirement before commercial production, meaning ore that has been running through the plant since June 2026 can now be converted into saleable tungsten concentrate and invoiced, shipped and delivered into South Korea and export markets.\n\nMore than 90% of Phase I production is already contracted under an offtake agreement with Global Tungsten & Powders, a member of Austria's Plansee Group, amended in July 2026 to run 21 years from first delivery with total contracted volume of 4,410,000 MTU and minimum annual volumes of 210,000 MTU following ramp-up.\n\nThe timing is strategically favorable: tungsten prices are at historic highs, China has tightened export restrictions, and US defense procurement rules effective January 2027 will trace ore origin back to the mine, positioning Sangdong as one of very few large-scale non-China tungsten sources with a Western address.","key_figures":{"customDimensions":{"offtake_term_years":21,"certificates_issued":"September 17, 2026","minimum_annual_volume_mtu":210000,"total_contracted_volume_mtu":4410000,"phase1_production_contracted":">90%","ore_processing_underway_since":"June 2026","us_defense_procurement_rules_effective":"January 2027"}},"named_entities":{"people":[{"name":"Lewis Black","role":"Chairman, President & CEO of Almonty"},{"name":"Lucas A. Zimmerman","role":"Managing Director, MZ Group - MZ North America (investor relations contact)"}],"products":["tungsten concentrate"],"companies":[{"name":"Almonty Industries Inc.","ticker":"ALM","relationship":"filer - tungsten producer"},{"name":"Global Tungsten & Powders LLC (GTP)","relationship":"offtake customer"},{"name":"Plansee Group","relationship":"Austrian parent of offtake customer GTP"},{"name":"MZ Group - MZ North America","relationship":"investor relations agency"}],"dollarAmounts":[]},"model_name":"glm-5.3-flash","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-21T11:39:09.865Z","global_importance":38,"audience_relevance":28,"importance_components":{"tickerTier":"small/mid-cap NASDAQ mining","eventGravity":"flagship asset reaches commercial production (development-to-revenue inflection)","sectorWeight":"strategic materials - tungsten/critical minerals for defense","macroTailwind":"China export restrictions plus US defense procurement rules effective January 2027","householdBrandBoost":false,"retailFavoriteBoost":"moderate - defense and critical-minerals supply-chain theme"}},"durationMs":123209,"modelName":"glm-5.3-flash"}}