Almonty Korea Tungsten Corporation announced that it held a completion ceremony for the concentrator at Sangdong Mine in Yeongwol-gun, Gangwon Special Self-Governing Province, at 11:00 a.m. on the 17th. The ceremony marked the redevelopment of Sangdong Mine, which had been shut down for about 32 years, into a modern mine and signaled the imminent start of full-scale tungsten production.

The ceremony began with a video introducing the development process of Sangdong Mine, followed by a plaque of appreciation presentation to key figures who contributed to the mine’s development, a screening of a video highlighting major achievements in the project, and a media performance announcing the restart of operations at Sangdong Mine. After the official program, participants toured major facilities, including the concentrator plant.

In his congratulatory remarks, Lewis Black, Chairman of Almonty Industries, stated, “The redevelopment of Sangdong Mine is not just the restart of a mine; it is a strategic project that strengthens the stability of the critical mineral supply chain for the Republic of Korea and its allies,” adding, “By ensuring a stable supply of tungsten, which is essential for future industries such as semiconductors, defense, and advanced manufacturing, the Republic of Korea will play an important role in the global supply chain for key materials that support high-tech industries.”

He continued, “Once the planned tungsten oxide plant in Yeongwol is established, it will not only meet domestic demand but also further reinforce the domestic value chain of the critical minerals industry and play a key role in diversifying critical mineral supply chains,” and added, “Almonty Korea Tungsten Corporation will operate Sangdong Mine responsibly and develop it into a strategic asset that contributes to Yeongwol, the Republic of Korea, and the global critical mineral supply chain.”

Kim Jin-tae, Governor of Gangwon Special Self-Governing Province, said in his congratulatory address, “It is very meaningful that an advanced concentrator facility has been completed and we are holding a completion ceremony on this site, which was once an empty field,” and added, “Tungsten is a key material indispensable to advanced strategic industries such as semiconductors and the defense sector, and this completion will be the starting point for supplying raw materials that will breathe life into Gangwon Special Self-Governing Province and future industries.”

Choi Myeong-seo, Mayor of Yeongwol-gun, said, “With the creation of an advanced industry core materials complex being promoted by Yeongwol-gun and Gangwon Special Self-Governing Province, and the establishment of the tungsten oxide plant planned by Almonty in the future, we expect significant benefits for revitalizing the local economy and advancing industry.”

Also in attendance at the ceremony were key government and industry figures and about 200 local stakeholders, including Kim Hyo, head of the Mineral Resources Team at the Ministry of Trade, Industry and Energy; Hwang Young-sik, President of Korea Mine Rehabilitation and Mineral Resources Corporation; Kwon Ik-yoon, President of the Korea Institute of Geoscience and Mineral Resources; and Alexei Kral, Economic Counselor at the U.S. Embassy in Korea.

Sangdong Mine was once regarded as one of the largest tungsten mines in the world and was a symbolic asset of the Republic of Korea’s mining industry. However, operations were suspended in the early 1990s due to a decline in international tungsten prices, and the mine remained idle for about 30 years. Since acquiring Sangdong Mine in 2015, Almonty Industries has invested more than USD 100 million over about ten years and has been gradually implementing projects such as building mine infrastructure, developing underground tunnels, and constructing the concentrator plant. Through this development process, Sangdong Mine has been reborn as an advanced tungsten mine equipped with modern facilities and smart mining technology. The Sangdong Mine concentrator has been designed to process approximately 640,000 tons of ore per year and has established a responsible strategic mineral production system that meets global environmental and social standards. In particular, Sangdong Mine has been developed in line with the Equator Principles, environmental and social standards adopted by global financial institutions, and is evaluated as a mining project that meets internationally recognized ESG criteria.

Almonty Korea Tungsten Corporation plans to proceed with a second-phase expansion aimed at increasing production capacity once stable operation of the first-phase development at Sangdong Mine is achieved this year, with operations scheduled to begin in 2027. Through this large-scale expansion, ore processing capacity will increase from 640,000 tons per year to 1.2 million tons per year, and annual tungsten concentrate output is expected to double from 2,300 tons to 4,600 tons. When both Phase 1 and Phase 2 are operating at their designed production capacities, Sangdong Mine will be able to supply about 40% of global tungsten demand excluding China, significantly reducing dependence on China and contributing to strengthening the stability and resilience of critical mineral supply chains for the United States and its allies.

Based on production from Sangdong Mine, Almonty Korea Tungsten Corporation is also pursuing downstream processing industries to further enhance value added in the tungsten sector. In cooperation with Yeongwol-gun, the company is pushing ahead with the construction of a tungsten oxide production plant with an annual capacity of about 4,000 tons within the Advanced Industry Core Materials Complex in Nokjeon-ri, Sanso-myeon, a designated Opportunity Development Zone. Through this, it aims to establish a domestic tungsten industry value chain that extends from mining to materials production.

Meanwhile, the redevelopment of Sangdong Mine is also bringing positive changes to the local economy. The total number of employees at Almonty Korea Tungsten Corporation is expected to increase to around 140 this year, including staff from Yeongwol, thereby contributing to job creation in the region. In addition, Almonty Korea Tungsten Corporation has been continuing community support activities such as funding local programs including senior centers, Sangdong Senior College, and village events; operating mobility services for the elderly; and sponsoring youth and school activities. In particular, the company has been providing ongoing financial support for the operation of the baseball team at Sangdong Middle and High School and, through the acquisition and operation of a local gas station, has been helping maintain essential basic services for residents’ daily lives.

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