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Almonty Completes Final Technical Review Prior To Processing Plant Equipment Installation at the Sangdong Mine

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Almonty Industries Inc. (TSX: AII / ASX: AII / OTCQX: ALMTF) has successfully completed pilot plant trial production for its Sangdong Mine in South Korea. This marks the final stage of flotation processing technology development before full-scale equipment installation. The company conducted tests at two locations: Portugal and South Korea, using 1/500th scale pilot plants.

Key achievements include:

  • Production of tungsten concentrate (WO₃) with over 60% content
  • 82% recovery rate in Portugal with 0.45% WO₃ feed grade
  • 86.3% recovery rate in Sangdong despite lower-grade ore
  • Improved sulfide flotation stage, ensuring stable 60-65% WO₃ grades in future production

These results have met all design performance parameters, allowing Almonty and equipment supplier Metso Outotec to proceed with the main processing plant construction. The company anticipates stable tungsten concentrate production from Sangdong Mine during 2025.

Almonty Industries Inc. (TSX: AII / ASX: AII / OTCQX: ALMTF) ha completato con successo la produzione di prova presso l'impianto pilota per la sua Miniera di Sangdong in Corea del Sud. Questo segna la fase finale dello sviluppo della tecnologia di flottazione prima dell'installazione dell'attrezzatura su larga scala. L'azienda ha condotto test in due luoghi: Portogallo e Corea del Sud, utilizzando impianti pilota in scala 1/500.

Le principali realizzazioni includono:

  • Produzione di concentrato di tungsteno (WO₃) con contenuto superiore al 60%
  • Tasso di recupero dell'82% in Portogallo con grado di alimentazione WO₃ dello 0,45%
  • Tasso di recupero dell'86,3% a Sangdong nonostante il minerale di grado inferiore
  • Fase di flottazione del solfuro migliorata, garantendo gradi stabili di 60-65% di WO₃ nella produzione futura

Questi risultati hanno soddisfatto tutti i parametri di prestazione progettuali, permettendo ad Almonty e al fornitore di attrezzature Metso Outotec di procedere con la costruzione dell'impianto di lavorazione principale. L'azienda prevede una produzione stabile di concentrato di tungsteno dalla Miniera di Sangdong nel 2025.

Almonty Industries Inc. (TSX: AII / ASX: AII / OTCQX: ALMTF) ha completado con éxito la producción de prueba en la planta piloto para su Minería de Sangdong en Corea del Sur. Esto marca la etapa final del desarrollo de la tecnología de flotación antes de la instalación del equipo a gran escala. La empresa realizó pruebas en dos ubicaciones: Portugal y Corea del Sur, utilizando plantas piloto a escala 1/500.

Los logros clave incluyen:

  • Producción de concentrado de tungsteno (WO₃) con un contenido superior al 60%
  • Tasa de recuperación del 82% en Portugal con grado de alimentación de 0.45% de WO₃
  • Tasa de recuperación del 86.3% en Sangdong a pesar de mineral de menor grado
  • Etapa de flotación de sulfuros mejorada, asegurando grados estables de 60-65% de WO₃ en la producción futura

Estos resultados han cumplido con todos los parámetros de rendimiento del diseño, lo que permite a Almonty y al proveedor de equipos Metso Outotec proceder con la construcción de la planta de procesamiento principal. La empresa anticipa una producción estable de concentrado de tungsteno de la Minería de Sangdong durante 2025.

Almonty Industries Inc. (TSX: AII / ASX: AII / OTCQX: ALMTF)는 한국의 상돈 광산에서 파일럿 플랜트 시험 생산을 성공적으로 완료했습니다. 이는 대규모 장비 설치 전에 플로팅 처리 기술 개발의 마지막 단계임을 나타냅니다. 이 회사는 포르투갈한국 두 곳에서 1/500 비율의 파일럿 플랜트를 사용하여 테스트를 수행했습니다.

주요 성과는 다음과 같습니다:

  • 60% 이상의 함량을 가진 텅스텐 농축물(WO₃) 생산
  • 포르투갈에서 0.45% WO₃ 원료 품위로 82% 회수율
  • 하급 광석에도 불구하고 상돈에서 86.3% 회수율
  • 안정된 60-65% WO₃ 등급을 보장하는 개선된 황화물 부양 단계

이러한 결과는 모든 설계 성능 매개변수를 충족하여 Almonty와 장비 공급업체 Metso Outotec가 주 처리 플랜트 건설로 나아갈 수 있게 합니다. 회사는 2025년에 상돈 광산에서 안정적인 텅스텐 농축물 생산이 이루어질 것으로 예상하고 있습니다.

Almonty Industries Inc. (TSX: AII / ASX: AII / OTCQX: ALMTF) a réussi à achever la production d'essai de l'usine pilote pour sa mine de Sangdong en Corée du Sud. Cela marque la dernière étape du développement de la technologie de flottation avant l'installation de l'équipement à grande échelle. L'entreprise a réalisé des tests à deux endroits : Portugal et Corée du Sud, en utilisant des usines pilotes à l'échelle de 1/500.

Les principales réalisations comprennent :

  • Production de concentré de tungstène (WO₃) avec un contenu supérieur à 60%
  • Taux de récupération de 82% au Portugal avec un taux de WO₃ dans l'alimentation de 0,45%
  • Taux de récupération de 86,3% à Sangdong malgré un minerai de qualité inférieure
  • Étape de flottation des sulfures améliorée, garantissant des teneurs stables de 60-65% de WO₃ dans la production future

Ces résultats ont respecté tous les paramètres de performance de conception, permettant à Almonty et au fournisseur d'équipements Metso Outotec de procéder à la construction de l'usine de traitement principale. L'entreprise prévoit une production stable de concentré de tungstène de la mine de Sangdong durant l'année 2025.

Almonty Industries Inc. (TSX: AII / ASX: AII / OTCQX: ALMTF) hat erfolgreich die Pilotanlagen-Testproduktion für seine Sangdong Mine in Südkorea abgeschlossen. Dies markiert die letzte Phase der Entwicklung der Flotationstechnik vor der Installation der Großgeräte. Das Unternehmen führte Tests an zwei Standorten durch: Portugal und Südkorea, mit 1/500 Maßstab-Pilotanlagen.

Wichtige Errungenschaften umfassen:

  • Produktion von Wolframkonzentrat (WO₃) mit über 60% Gehalt
  • 82% Rückgewinnungsquote in Portugal bei 0,45% WO₃ Futtergrad
  • 86,3% Rückgewinnungsquote in Sangdong trotz niedrigerem Erzgehalt
  • Verbesserte Sulfid-Flotationsstufe, die zukünftige stabile 60-65% WO₃ Gehalte gewährleistet

Diese Ergebnisse haben alle Entwurfsleistungsparameter erfüllt, wodurch Almonty und der Ausrüstungsanbieter Metso Outotec mit dem Bau der Hauptverarbeitungsanlage fortfahren können. Das Unternehmen rechnet damit, dass während 2025 eine stabile Produktion von Wolframkonzentrat aus der Sangdong Mine stattfinden wird.

Positive
  • Successful completion of pilot plant trials, validating the company's proprietary flotation processing technology
  • Achieved over 60% tungsten concentrate (WO₃) content in pilot tests
  • High recovery rates: 82% in Portugal and 86.3% in Sangdong
  • Improved sulfide flotation stage, ensuring future stability of 60-65% WO₃ grades in concentrate production
  • Potential to reduce reagent usage while maximizing efficiency
  • All design performance parameters met, allowing for main processing plant construction to proceed
  • Anticipation of stable tungsten concentrate production from Sangdong Mine in 2025
Negative
  • None.

Highlights:

  • Completion of pilot plant test works for trial tungsten concentrate production across two locations: South Korea and Portugal
  • Clears path for processing plant equipment installation at Sangdong by Metso.

TORONTO--(BUSINESS WIRE)-- Almonty Industries Inc. ("Almonty" or the "Company") (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI.F), is pleased to announce the successful completion of its pilot plant trial production, which marks the final stage of flotation processing technology development ahead of processing plant equipment installation at the Company’s Sangdong Mine in South Korea.

Pilot Processing Plant Testwork at Almonty’s Pilot Plant (Photo: Business Wire)

Pilot Processing Plant Testwork at Almonty’s Pilot Plant (Photo: Business Wire)

The Company has developed a specialized flotation technique tailored to the unique properties of Sangdong’s tungsten ore through a tireless number of lab-scale and continuous process tests at the Korea Institute of Geoscience and Mineral Resources (“KIGAM”). Scaling up this process required further verification on a larger scale. The pilot plant trial production was crucial not only for identifying potential challenges in the main plant but also for acquiring operational expertise prior to full-scale production.

Therefore, prior to the processing plant's construction, tungsten ore from the Sangdong Mine was processed at two pilot plants, each representing 1/500th the size of the actual plant. The pilot plant trial production was conducted at two locations—Portugal during September, 2023 and the Sangdong mine during July and August, 2024 —validating the stability of the Company’s proprietary flotation processing technology.

These tests were carried out at the National Laboratory for Energy and Geology (“LNEG”) in Portugal, and at Sangdong, using equipment commissioned by the Korea Energy Technology Evaluation and Planning (“KETEP”) under the Ministry of Trade, Industry, and Energy. As a result, the Company successfully produced tungsten concentrate (“WO₃”) with a content of over 60%.

In Portugal, the pilot plant mirrored most of the future industrial plant in Sangdong. The feed grade was around 0.45% WO₃, and the concentrates consistently exceeded 60% of contained WO₃, achieving recoveries around 82%.

In Sangdong, although equipment limitations and lower-grade ore (below the 0.15% WO₃ cutoff) presented challenges, a recovery of 86.3% was achieved thanks to an improved flotation process and optimized reagent adjustment. In particular, during the sulfide flotation stage, which removes impurities, the tungsten grade improved. This indicates that the concentration of sulfide impurities, which are typical contaminants in tungsten concentrate, can be reduced, ensuring the future stability of 60% to 65% WO₃ grades in concentrate production.

Based on these results, the Company and its equipment supplier Metso Outotec are now comfortable to sign off on the processing having met all the design performance parameters. Additionally, the tests at Sangdong Mine confirmed the potential to reduce reagent usage while maximizing efficiency.

Mr Lewis Black, Chairman, President and CEO commented: “With the successful completion of the pilot plant phase, all preliminary preparations related to process technology development and equipment performance validation have been finalized. With minor adjustments to the equipment and reagents at the processing plant currently under construction, we anticipate stable production of tungsten concentrate from our Sangdong Mine during 2025. The time we have spent building and operating two pilot plants in Korea and Portugal has been essential to ensure the main plant works out the gate. We have been operating the two pilot plants for almost three years, so we have been able to refine and perfect the processing which will ensure a quick and smooth processing commissioning. We are a go.”

About Almonty

The principal business of Toronto, Canada-based Almonty Industries Inc. is the mining, processing and shipping of tungsten concentrate from its Los Santos Mine in western Spain and its Panasqueira mine in Portugal as well as the development of its Sangdong tungsten mine in Gangwon Province, South Korea and the development of the Valtreixal tin/tungsten project in northwestern Spain. The Los Santos Mine was acquired by Almonty in September 2011 and is located approximately 50 kilometres from Salamanca in western Spain and produces tungsten concentrate. The Panasqueira mine, which has been in production since 1896, is located approximately 260 kilometres northeast of Lisbon, Portugal, was acquired in January 2016 and produces tungsten concentrate. The Sangdong mine, which was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, was acquired in September 2015 through the acquisition of a 100% interest in Woulfe Mining Corp. Almonty owns 100% of the Valtreixal tin-tungsten project in north-western Spain. Further information about Almonty’s activities may be found at www.almonty.com and under Almonty’s profile at www.sedarplus.ca.

Legal Notice

The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. These statements and information are based on management’s beliefs, estimates and opinions on the date that statements are made and reflect Almonty’s current expectations.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Almonty to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: any specific risks relating to fluctuations in the price of ammonium para tungstate (“APT”) from which the sale price of Almonty’s tungsten concentrate is derived, actual results of mining and exploration activities, environmental, economic and political risks of the jurisdictions in which Almonty’s operations are located and changes in project parameters as plans continue to be refined, forecasts and assessments relating to Almonty’s business, credit and liquidity risks, hedging risk, competition in the mining industry, risks related to the market price of Almonty’s shares, the ability of Almonty to retain key management employees or procure the services of skilled and experienced personnel, risks related to claims and legal proceedings against Almonty and any of its operating mines, risks relating to unknown defects and impairments, risks related to the adequacy of internal control over financial reporting, risks related to governmental regulations, including environmental regulations, risks related to international operations of Almonty, risks relating to exploration, development and operations at Almonty’s tungsten mines, the ability of Almonty to obtain and maintain necessary permits, the ability of Almonty to comply with applicable laws, regulations and permitting requirements, lack of suitable infrastructure and employees to support Almonty’s mining operations, uncertainty in the accuracy of mineral reserves and mineral resources estimates, production estimates from Almonty’s mining operations, inability to replace and expand mineral reserves, uncertainties related to title and indigenous rights with respect to mineral properties owned directly or indirectly by Almonty, the ability of Almonty to obtain adequate financing, the ability of Almonty to complete permitting, construction, development and expansion, challenges related to global financial conditions, risks related to future sales or issuance of equity securities, differences in the interpretation or application of tax laws and regulations or accounting policies and rules and acceptance of the TSX of the listing of Almonty shares on the TSX.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to, no material adverse change in the market price of ammonium para tungstate (APT), the continuing ability to fund or obtain funding for outstanding commitments, expectations regarding the resolution of legal and tax matters, no negative change to applicable laws, the ability to secure local contractors, employees and assistance as and when required and on reasonable terms, and such other assumptions and factors as are set out herein. Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary.

Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing list of material factors is not exhaustive. When relying on Almonty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

Almonty has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD- LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. 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.

For further information, please contact:

Lewis Black

Chairman, President and CEO

Telephone: +1 647 438-9766

Email: info@almonty.com

Source: Almonty Industries Inc.

FAQ

What were the results of Almonty's pilot plant trials for the Sangdong Mine?

Almonty's pilot plant trials for the Sangdong Mine successfully produced tungsten concentrate (WO₃) with over 60% content. In Portugal, they achieved 82% recovery with 0.45% WO₃ feed grade, while in Sangdong, they reached 86.3% recovery despite lower-grade ore.

When does Almonty (ALMTF) expect to start stable production at the Sangdong Mine?

Almonty (ALMTF) anticipates stable production of tungsten concentrate from the Sangdong Mine during 2025, following the successful completion of pilot plant trials and planned installation of the main processing plant.

What improvements were made during Almonty's pilot plant tests for the Sangdong project?

During the pilot plant tests, Almonty improved the sulfide flotation stage, which removes impurities and ensures stable 60-65% WO₃ grades in future concentrate production. They also identified potential to reduce reagent usage while maximizing efficiency.

How do the pilot plant results impact Almonty's (ALMTF) processing plant construction plans?

The successful pilot plant results have met all design performance parameters, allowing Almonty (ALMTF) and equipment supplier Metso Outotec to proceed with the construction of the main processing plant at the Sangdong Mine.

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