- A team of geologists from around the world visited Almonty Industries’ (TSX:AII) Sangdong Tungsten mine in South Korea this week
- During their visit, the geologists expressed interest in the redevelopment progress of the mine, a major tungsten resource and one of the largest in the world
- The visiting team, which included geologists and geochemists, used UV lamps to inspect the tungsten and molybdenum mineralization zones within the mine galleries, which are rare on a global scale
- Almonty Industries Inc. (TSX:AII) opened trading at $0.83 per share
A team of geologists from around the world visited Almonty Industries’ (TSX:AII) Sangdong tungsten mine in South Korea this week.
The group of geologists were attending the 2024 International Geological Congress, organized by the International Union of Geological Sciences (IUGS) in Busan. The IUGS engages in various activities through specialized commissions, task groups, and initiatives, as well as joint programs with other organizations, focusing on a broad spectrum of geological research relevant to governments, industry, and academic groups in the Earth sciences. During their visit to the mine site, the geologists expressed interest in the redevelopment progress of the Sangdong mine, a major tungsten resource and one of the largest in the world.
Led by professor Seo Jeong-hoon from the Department of Geology at Seoul National University, the visiting team, which included geologists and geochemists, used UV lamps to inspect the tungsten and molybdenum mineralization zones within the mine galleries, which are rare on a global scale.
“The redevelopment of the Sangdong mine plays a crucial role in stabilizing and diversifying the global mineral resource supply, and we will continue to support academic research and the advancement of mining technology,” Almonty’s CEO, Lewis Black, said in a news release about the visit.
Located in Yeongwol, Gangwon Province, the Sangdong mine 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. It was acquired nine years ago.
The main business of Toronto-based Almonty Industries 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 mine and the Valtreixal tin/tungsten project in northwestern Spain.
Almonty Industries Inc. (TSX:AII) opened trading down more than 1 per cent at $0.83 per share.
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