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Almonty Industries ( (TSE:AII) ) just unveiled an update.
Almonty Industries has signed an exclusive offtake agreement with SeAH Group, a major player in the Korean steel industry, to supply all the molybdenum produced from its Sangdong Molybdenum Project for the mine’s entire life span. This agreement not only stabilizes financial prospects for Almonty with a set floor price but also strengthens South Korea’s domestic supply chain by reducing its reliance on foreign imports, particularly from China. This strategic partnership will enhance Almonty’s industry positioning and is expected to significantly benefit local manufacturers while supporting the country’s defense and aerospace sectors.
More about Almonty Industries
Almonty Industries Inc. operates in the critical materials sector, focusing on the development and production of resources like molybdenum and tungsten. The company is expanding its operations with projects such as the Sangdong Molybdenum Project, which aims to bolster its market position by enhancing supply chains in South Korea.
YTD Price Performance: 8.91%
Average Trading Volume: 217,297
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$292M
Learn more about AII stock on TipRanks’ Stock Analysis page.
