Almonty Industries, a leading Canadian tungsten producer, celebrated its debut on the Nasdaq on July 14, 2025. The company raised a total of $90 million through an offering of 20 million shares at $4.50 each. The stock opened higher at around $5.02 per share, indicating strong investor interest.
A Strategic Asset: The Sangdong Tungsten Mine
A key element of Almonty’s portfolio is the Sangdong Tungsten Mine in South Korea, one of the largest tungsten deposits in the world based on indicated mineral resources. This mine is currently in a gentle commissioning phase and will represent a significant source of tungsten demand outside of China once fully operational.
With over 80% of the world’s tungsten production coming from China, Almonty’s South Korean mine could play a crucial role in diversifying supply chains and reducing dependence on Chinese exports, particularly in light of rising geopolitical tensions.
Tungsten: An Essential Metal
Tungsten is a critical raw material with high relevance for defense and industrial applications – it is used in weapons, aerospace technologies, semiconductors, batteries, radiation shielding, and hypersonic weapon systems. This strategic importance makes Almonty attractive to investors focused on critical minerals.
The proceeds from the Nasdaq IPO will primarily be used for the development of Almonty’s tungsten oxide plant at Sangdong, as well as for working capital. The company shows strong financial health, with low debt ratios and solid profitability metrics, such as a gross margin of 48%.
In summary, Almonty’s move to the Nasdaq highlights its growing role as a key player supplying this essential metal outside of Chinese dominance – an increasingly important factor amid current geopolitical changes.