GTP and Almonty Industries drive reactivation of Sangdong tungsten mine
December 14, 2020
Plansee Group, Reutte, Austria, is working with Almonty Industries, a global mining company headquartered in Toronto, Ontario, Canada, to drive the reactivation of the Sangdong tungsten mine in South Korea. Acquired by Almonty in 2015, the Sangdong mine is being prepared for use with an eye towards safeguarding long-term primary supply of tungsten powder for the Plansee Group tungsten manufacturer, Global Tungsten Powders (GTP), Towanda, Pennsylvania, USA.
GTP is said to have enjoyed a close working relationship with Almonty for a number of years, having entered into long-term delivery agreements. Almonty supplies tungsten ore concentrates, which GTP processes into a variety of tungsten powders.
“The development of a mining project takes a lot of time and money,“ stated Hermann Walser, CEO and president of GTP. “Successful commissioning requires financially strong investors, long approval processes, complex production equipment, and extensive production expertise.“
Located in South Korea’s northeast, the Sangdong mine was discovered in 1916 and served as one of the world’s leading tungsten producers for forty years. Despite rich tungsten ore deposits, the mine ceased production in 1994 due to the low price of tungsten.
Currently, Almonty’s tungsten ore concentrates are mined in Spain and Portugal, with Sangdong planned to start operations in 2022.
