Almonty Industries Inc. (ALM)

Almonty Industries Inc. is a mining company focused on tungsten, a metal valued for its hardness and high melting point and used in cutting tools, defense applications, electronics and industrial alloys. The company mines and processes tungsten concentrate for sale to industrial customers.

Its key asset is the Sangdong tungsten project in South Korea, one of the most significant tungsten deposits outside China, which also contains molybdenum. Almonty also operates the Panasqueira tungsten mine in Portugal and holds development projects in Spain, including Valtreixal.

Originally organized in Canada, Almonty redomiciled to the United States and listed its common shares on Nasdaq, positioning itself as a Western source of a critical mineral that is largely supplied by China.