Almonty Industries Transitions to Production, Driving Share Gains

Shares of Almonty Industries surged across multiple exchanges following a pivotal operational update, shifting the narrative from development promises to tangible production results. The company's confirmation of active mining in South Korea and its strategic positioning against Chinese market dominance have fueled significant investor optimism.

The financial markets responded swiftly to the January 20 announcement. On the NASDAQ, Almonty's stock advanced to $9.44, marking a single-day gain of 8.88%. Trading in Toronto concluded with an even stronger performance, where shares closed at C$13.05, up more than 11%. The positive momentum continued into Frankfurt trading, with the equity price rising to €8.14, an increase of 4.36%.

This rally is rooted in a fundamental corporate milestone: the official confirmation that the Sangdong mine in South Korea commenced production in December 2025. This achievement marks Almonty's successful transition from a project developer to an active mining producer, moving beyond the critical construction phase.

Strategic Roadmap and Capacity Goals

Management has outlined a clear scaling strategy. With the initial phase now operational, the full expansion of the Sangdong facility is scheduled for completion by 2027. The company is targeting an annual production capacity of 1.2 million tonnes of ore, which is expected to yield approximately 460,000 Metric Tonne Units (MTU) of tungsten concentrate.

Almonty's ambitious plan is to supply 40% of the non-Chinese tungsten market. This goal carries substantial geopolitical weight, given that China currently controls over 80% of global supply and has implemented export restrictions. These constraints have already impacted the market, with the tungsten price soaring by more than 160% in 2025.

Should investors sell immediately? Or is it worth buying Almonty?

Fortifying the US Supply Chain

Concurrently, Almonty is bolstering its North American presence through the full acquisition of the Gentung Browns Lake project in Montana. Market participants anticipate this site could be ready for production as early as the second half of 2026. With a planned capacity of 140,000 MTU, this project is strategically aimed at supplying the U.S. defense industrial base, which will be prohibited from using Chinese tungsten imports starting in 2027.

Financial Backing and Analyst Outlook

The company's aggressive expansion appears to be well-funded. In 2025, Almonty raised approximately $219 million through its public listing and a subsequent capital increase. This robust liquidity position allows the leadership team to concentrate fully on operational execution without immediate concerns over financing.

Analysts have updated their valuations in light of these developments. Oppenheimer set a price target of $12.00, suggesting a potential upside of roughly 27% from recent levels. Cantor Fitzgerald reaffirmed its assessment with a target of $10.00 per share.

The recent share appreciation is fundamentally supported by operational progress. With Sangdong coming online and a strengthened balance sheet, Almonty is positioned to benefit directly from the ongoing geopolitical realignment of critical supply chains. The true test of its ambition to become a key Western alternative will come by 2027, when U.S. sanctions take full effect.