Almonty Advances Key Exploration Initiative Amid Growing Molybdenum Demand

Almonty Industries is launching a significant exploration campaign at its Sangdong molybdenum project in South Korea, responding to a critical domestic shortage of the strategic metal. The initiative underscores the company’s operational progress following recent market recognition of its growth trajectory.

The company has commenced an extensive drilling program consisting of 26 boreholes spanning approximately 11,700 meters. This campaign is designed to gather critical data to confirm mineral resources for future production. The work involves re-evaluating mineralized structures identified in historical drilling data. This accelerated exploration phase coincides with a notable 15.1% increase in the molybdenum spot price since the start of the year.

Molybdenum is essential for several key industries, including aerospace, defense, and renewable energy. The Sangdong project aims to... Read more...