The Plansee Group and GTP support the reactivation of the Sangdong mine

With a finance guarantee, a long-term tungsten ore purchase agreement, and its decades-long tungsten ore concentrate processing experience, the Plansee Group has evolved into a driving force for the reactivation of the Sangdong tungsten mine in South Korea.

The Sangdong mine is being prepared for mining by Almonty, a publicly traded Canadian company. “The development of a mine project takes a lot of time and money,“ Hermann Walser stated, CEO/President of GTP. He added: “Successful commissioning requires financially strong investors, long approval processes, complex production equipment, and extensive production expertise.“

The goal of the agreement between the Plansee Group and Almonty is to safeguard the long-term primary supply of tungsten raw material. This is the objective of Global Tungsten & Powders (GTP), the tungsten powder manufacturer in the Plansee Group.

GTP has enjoyed a close working relationship with Almonty for many years and entered into long-term delivery agreements with Almonty. Almonty supplies tungsten ore concentrates, which GTP processes into a variety of tungsten powders.

The tungsten ore concentrates produced by Almonty come from existing mines in Spain and Portugal and soon will also come from the Sangdong mine in South Korea. This mine is in the process of being reactivated and, starting in 2022, is expected to supply the western world with tungsten for many decades.

The Sangdong mine located in South Korea's northeast was discovered in 1916 and served as one of the world's leading tungsten producers for 40 years. Despite rich tungsten ore deposits, the mine ceased production in 1994 as a result of the low price of tungsten. The mine was acquired in 2015 by Almonty Industries.
It is known and valued for its comparatively high tungsten content and high-grade tungsten ore concentrate. Additionally, the tungsten-containing ore is easy to mine. Sangdong is expected to extract and produce high-grade tungsten ore concentrate starting in 2022.

Pictures Copyright Almonty Industries.

Find more details on Almonty Industries' website here.

Information about the Plansee Group and its focus on tungsten and molybdenum can be found here.