en.Wedoany.com Reported - Almonty Korea Tungsten Corp. (AKTC) announced on June 18, 2026, that it has confirmed the molybdenum resource reserves and quality at its Sangdong mine in Yeongwol County, Gangwon Province, South Korea, stating that the reserves can support mining operations for over 60 years. Currently, AKTC has completed 37% of its exploration drilling program, with data obtained from 26 boreholes consistent with historical sampling results from the area. The company plans to accelerate the pace of production startup and indicated that it will achieve molybdenum production ahead of the previously set timeline.

Almonty Korea Tungsten Corp. is a subsidiary of Canada's Almonty Industries Inc. The Sangdong mine was historically one of the world's largest and highest-grade tungsten mines, closing in 1992 due to low metal prices. In March 2026, the mine resumed tungsten production after more than 30 years of shutdown, with a designed capacity to meet approximately 40% of Western tungsten demand. Molybdenum, as a by-product of tungsten, is considered a natural extension of existing infrastructure and expertise.

According to a previously signed memorandum of understanding between AKTC and South Korea's SeAH M&S, all molybdenum ore produced at the Sangdong mine will be supplied to SeAH M&S. SeAH M&S, the world's largest molybdenum oxide smelter, is building a $110 million metal processing plant in Texas, USA, to supply products to SpaceX and the U.S. defense and civil aviation sectors.

Molybdenum and tungsten are critical materials for South Korea's aerospace, defense, nuclear power, petrochemical, and semiconductor industries. Currently, South Korea relies on imports from China for over 80% of its tungsten and over 90% of its molybdenum. The commencement of molybdenum production at the Sangdong mine will help diversify South Korea's supply chain for these two strategic minerals, reducing dependence on a single source. AKTC Chairman and CEO Lewis Black stated that molybdenum is a natural extension of the Sangdong mine's tungsten infrastructure and expertise, and advancing the development of both metals simultaneously helps create long-term value for shareholders, supports national resource security, and reduces South Korea's reliance on imports.

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