Almonty Industries Inc. (TSX: AII | OTC: ALMTF | ASX: AII) has provided a construction update for its Sangdong Tungsten Mine located in Gangwon province, approximately187km from Seoul in South Korea.
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. Almonty, through its wholly-owned subsidiary, Woulfe Mining Corp, owns a 100% interest in the Almonty Korea Tungsten Project (Sangdong Mine).
The company reports that June and July were particularly busy at its mine development project as the Metso protection screen and reclaim feeders arrived via port in Busan. This followed the arrival of the semi-autogenous grinding (SAG) mill and ball mill along with grizzly screens, UFS screens, and an apron feeder all soon to come.
The fully permitted mine has a potential life of 90 years and is being reopened at a cost of US$75M. Project commissioning will be complete by the end of 2024, followed by a 12-month ramp-up period. The first phase of production will average 2.3Mt of tungsten oxide annually. The second phase expansion will boost that to 4.8Mtpa and also includes a tungsten oxide plant.
Engineering and civil works are also advancing. Detailed plans for the crusher and stockpile were completed, with drawings of the grinding and classification sections to be finalized shortly.
The Sangdong deposits contains an estimated proven and probable reserve of 7.9Mt grading 0.45% WO3. The measured and indicated resources, including reserves, are 8.3Mt at 0.49% WO3, and the inferred resource is 52.8Mt at 0.44% WO3.
Almonty’s chairman, president and CEO, Lewis Black stated, “We are resolute in upholding the highest standards of safety, quality, and environmental responsibility, ensuring that every aspect of the project is executed with utmost care and precision.”
For further information, please visit: www.almonty.com
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