The West Waited Too Long On Tungsten: Is Almonty Now Holding The Advantage?

Almonty Industries' CEO on breaking China's tungsten grip, Sangdong production & Western supply chain shift. Register for free for the International Investment Forum: https://ii-forum.com/ The ‘International Investment Forum’ – (‘IIF’) provides information on investment trends and ideas, covering all aspects of various industries, from top executives and managers around the world. Join host Lyndsay Malchuk on Market Frontlines for a no-holds-barred interview with Lewis Black, Chairman, CEO and President of Almonty Industries (NASDAQ: ALM, TSX: AII, Frankfurt: ALI1). For decades, the West outsourced its tungsten supply to China – and barely questioned it. Now that complacency is breaking. With Sangdong, one of the world’s highest-grade tungsten mines, back in production after 30 years, and a strategic relocation to Dillon, Montana, Almonty is positioning itself at the centre of the Western supply chain shift. Lewis Black discusses the brutal reality of mine building in democracies, why tungsten is now a defence and AI metal, how China’s pricing grip is finally loosening, and what investors should look for in a tungsten company. If you want straight talk on critical minerals, this is the episode. Almonty Industries, tungsten mining, critical minerals, Lewis Black, Sangdong mine, tungsten supply chain, US defense metals, NASDAQ ALM, TSX AII, Frankfurt ALI1, China tungsten dominance, Montana mining, tungsten processing, resource nationalism, strategic metals, metal recycling, tungsten price, democracy vs totalitarian mining, Korea downstream, APT, tungsten oxide If you enjoyed this interview, please like, subscribe, and hit the notification bell for more market-moving conversations. Share your thoughts or questions in the comments below! https://almonty.com   / almonty   https://apaton.com   / apaton-finance-gmbh     / internationalinvestmentforum      / @internationalinvestmentforum   Video Chapters: 00:00:00 - China Always Controlled the Price – Now It Trades Freely 00:00:57 - Welcome: The West’s Tungsten Wake-Up Call 00:02:00 - Sangdong Is Back – Commissioning Halfway Done 00:03:14 - Grinding Circuit Signed Off: A Major Relief 00:04:30 - Five Generations of Tungsten Experience 00:05:45 - Surviving a Low-Price Environment Through Leanness 00:06:32 - Human Capital: The Real Friction Point 00:07:37 - Democracies vs Totalitarian States – The Nimbleness Gap 00:08:28 - What Is Tungsten Actually Worth? We Don’t Know Yet 00:09:39 - Execution Reality: The Mind-Numbing Slog of Bureaucracy 00:10:32 - “It Took Me 10 Years in Korea” 00:11:36 - Safe & Loving Jurisdictions – The Medium-Term Fix 00:13:04 - Redomicile to the US: Moving to NASDAQ and Montana 00:14:19 - Upgrading the Bullpen: New CFO with Deep Mining Knowledge 00:16:46 - Stay in Your Lane: Only Tungsten & Molybdenum 00:18:19 - US Defence & Global Western Security – Not Just America 00:20:00 - Downstreaming in Korea & Creative “Band-Aid” Solutions 00:21:00 - Consolidating Domination for 75% of the Market 00:22:24 - Tungsten Is Now Defence, Semiconductors & AI – All at Once 00:23:21 - More Downstream Consolidation Coming 00:24:40 - Price Will Never Drop Below $1,000 Again 00:26:00 - Sangdong Update: Fewer Wrinkles, Better Sleep 00:28:00 - Launching at a Price Not Seen Since the 1950s 00:29:00 - Shareholder Value & the Tungsten Super Cycle 00:31:40 - Investor Advice: Skin in the Game, Track Record, “Why Isn’t Almonty Involved?” 00:34:00 - Outro & Closing Thoughts Host: Lyndsay Malchuk (Apaton Media). Guest: Lewis Black, President, CEO & Director of Almonty Industries. Music and graphics licensed via Apaton Finance GmbH. Special thanks to the Almonty team for their transparency and insights. #TungstenMining #CriticalMinerals #AlmontyIndustries #LewisBlack #SangdongMine #USDefenseMetals #NASDAQALM #TSXAII #FrankfurtALI1 #ChinaTungsten #ResourceSecurity #StrategicMetals #MiningInvestment #TungstenSupply #WesternSupplyChain #MetalRecycling #DefenseIndustry #AerospaceMetals #SemiconductorMaterials #TungstenPrice Notes: This video is for informational purposes only and does not constitute a recommendation to buy or sell securities. The statements reflect the views of the interviewed company. Please consult a professional advisor before making investment decisions. Some links may be affiliate or sponsored. Investments in securities involve risks. Conflicts of interest exist. Further details are provided at the end of the video. Interviewed Company: Almonty Industries Inc. 8 S Idaho St, Suite A Dillon, MT 59725 United States The interview was first published on May 17, 2026 at approximately 9:50am CET. For business inquiries, contact: office@apaton.com