Almonty Industries added to S&P/TSX Global Mining Index amid rising global demand for tungsten

Why was Almonty Industries included in the S&P/TSX Global Mining Index and what does it signal for the global tungsten market?

Almonty Industries Inc. (TSX: AII) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI), a Canada-headquartered global producer of tungsten concentrate, has officially been included in the S&P/TSX Global Mining Index as of June 23, 2025. The index inclusion was confirmed through a company announcement issued from Toronto, positioning Almonty alongside an elite group of international mining and mineral development firms tracked for investor exposure across critical and strategic metals.

The S&P/TSX Global Mining Index acts as a key benchmark for diversified global mining equities and includes companies engaged in the production and development of precious, base, and specialty metals. Almonty’s addition reflects its growing relevance in the critical minerals sector—particularly as geopolitical events reshape global supply chains and intensify the strategic value of tungsten.

Historically, the S&P/TSX Global Mining Index has been a barometer of institutional interest in scalable mining operations, with a strong leaning toward companies contributing to Western critical material independence. Almonty’s inclusion suggests a rising institutional spotlight on its expanding role in delivering conflict-free tungsten from jurisdictions like South Korea, Portugal, and Spain.

How does Almonty Industries’ current project portfolio align with institutional demand for conflict-free tungsten production?

Almonty Industries operates a diversified portfolio of tungsten-focused mining assets spanning Europe and Asia. The Canadian-headquartered mining enterprise currently exports tungsten concentrate from its Panasqueira mine in Portugal—one of Europe’s longest-operating tungsten mines. More notably, its flagship development site, the Sangdong mine in Gangwon Province, South Korea, is expected to become one of the largest high-grade tungsten mines outside of China upon full commissioning.

The Sangdong project is considered vital not only for its tungsten output but also for the molybdenum deposit located beneath the primary ore body. Analysts note that molybdenum’s utility in strengthening alloys and its rising demand from defense and energy sectors amplify the long-term upside of Almonty’s South Korean asset.

Additionally, Almonty is advancing two other projects in Spain: the Los Santos mine and the Valtreixal tin-tungsten development in western and northwestern Spain, respectively. While both sites are in varying stages of development and rehabilitation, they contribute to Almonty’s long-term strategy of vertically integrating tungsten supply in regions underpinned by regulatory stability and ESG frameworks.

Institutional sentiment toward Almonty’s portfolio has grown more bullish in recent quarters, driven by its unique geographic positioning away from high-risk jurisdictions and its alignment with Western policy priorities around supply chain resilience and defense-oriented critical mineral sourcing.

What factors are driving renewed institutional investor interest in Almonty Industries’ tungsten supply capabilities?

The addition of Almonty Industries to the S&P/TSX Global Mining Index highlights a broader momentum shift in favor of mining companies offering geopolitical insulation and critical mineral reliability. Tungsten, which is used extensively in defense applications, electric vehicles, semiconductors, and advanced manufacturing, is currently produced in dominant volumes by China—accounting for more than 80% of global output.

As Western economies ramp up efforts to onshore or nearshore critical mineral supply chains, companies like Almonty—with conflict-free mining assets in South Korea and Europe—have become increasingly valuable to institutional portfolios. Analysts indicate that Almonty’s strategic importance stems from its alignment with U.S. and EU initiatives aimed at reducing dependency on Chinese tungsten.

Moreover, recent shifts in defense procurement priorities—particularly in the United States and allied countries—have underscored the role of tungsten in armor-piercing munitions, radar technologies, and aerospace components. Almonty’s explicit alignment with these defense supply objectives has attracted heightened investor visibility.

The presence of Almonty on the index further ensures increased liquidity, higher exposure to fund-based capital allocations, and potential interest from passive investment vehicles that benchmark their holdings against the S&P/TSX Global Mining Index.

What does the addition to the S&P/TSX Global Mining Index mean for Almonty’s financial trajectory and shareholder base?

According to institutional observers, index inclusion often catalyzes both short-term trading interest and long-term capital inflows. For Almonty Industries, this could manifest in expanded analyst coverage, improved share turnover, and stronger cross-market visibility across North American, Australian, and European bourses.

The tungsten-focused mining developer has already listed on multiple exchanges, including the TSX, ASX, OTCQX, and Frankfurt Stock Exchange—signaling a deliberate strategy to broaden shareholder participation across retail and institutional segments. The June 23 inclusion comes at a critical juncture as the company continues construction at its Sangdong project and positions itself for potential offtake expansions.

Almonty President and CEO Lewis Black remarked that the index inclusion “underscores the continued execution of our strategy and the increasing relevance of Almonty as a leading supplier of tungsten for the defense needs of the U.S. and its allies.” Analysts have interpreted this commentary as a signal of future scale-up potential and strategic partnerships.

While no specific revenue or margin forecasts were shared in the announcement, previous disclosures indicate that Sangdong is expected to produce more than 2,000 tonnes of tungsten oxide per year, with offtake agreements likely aligned with Western procurement contracts.

What is the expected future outlook for Almonty Industries following its inclusion in the global mining index?

Looking ahead, institutional investors anticipate that Almonty Industries will leverage its index inclusion to accelerate both project financing and offtake negotiations—particularly for its flagship South Korean project. With the Sangdong mine set to commence commercial production in the near term, analysts expect further capital deployment toward downstream processing capabilities and eventual molybdenum development.

Industry sentiment also suggests that Almonty may become a critical node in the North American and European tungsten strategy, given its conflict-free footprint and multi-jurisdictional asset base. Given the geopolitical backdrop and rising demand for tungsten in battery systems, aerospace alloys, and precision tools, Almonty’s inclusion is widely seen as a validation of its strategic value proposition.

Further upside potential could come from enhanced institutional research coverage, new ESG fund participation, and higher weighting in mining and materials ETFs. Analysts note that Almonty’s ESG profile, underpinned by regulatory compliance in South Korea and the EU, positions it well within the evolving investment criteria of environmentally conscious funds.

Overall, the company’s trajectory appears closely linked to the successful execution of its production timelines, offtake scalability, and geopolitical tailwinds that prioritize strategic mineral independence.