Almonty Industries set to lead Western tungsten supply amid China export limits and strong contracts.

Almonty Industries is poised to become the largest Western-aligned tungsten producer as China tightens its export controls on tungsten. The company benefits from a global tungsten supply deficit, U.S. defense restrictions on Chinese tungsten, and long-term contracts with price floors. Its Sangdong Phase 2 expansion aims to double production by 2027, potentially generating $1.4 billion in annual revenue. Despite recent stock volatility and dilution, the company’s low costs, high profitability, and favorable geopolitical conditions make it an attractive investment.

Almonty Industries holds a market cap of $2.51 billion on Pluang as of October 31, 2026, 20:21 WIB, with a trading volume of 5,558,530 shares. The stock price is currently USD 8.69, down 6.56% in the last day, reflecting active investor interest. The enterprise value stands at $2.22 billion, indicating substantial company valuation relative to its market capitalization.