Almonty Industries Inc. (ASX:AII) clarification announcement

Almonty Industries Inc. (ASX:AII) has issued a clarification announcement in response to the Australian Securities Exchange's request. The company clarified the statements regarding the production of 4,000 tonnes of tungsten oxide annually and the approximate maximum expected plant capacity of the Sangdong Downstream Tungsten Oxide Plant to be developed in Yeongwol, South Korea. The construction of the plant has not yet commenced, and its specifications have been assessed in a concept study.

Executive Commentary

The 4,000 tonnes per annum production capacity is specific to the Plant and does not pertain to the production of tungsten concentrate at the Sangdong Mine or any of the Company's other mines. The Plant's capacity is independent of the production level at the Sangdong Mine. The Company will keep the market informed on the progress of the planned development of the Plant.

Summary

Almonty Industries Inc. (ASX:AII) has clarified the details regarding the development of the Sangdong Downstream Tungsten Oxide Plant in South Korea. The company has announced the signing of a memorandum of understanding (MOU) with the local South Korean authority to secure land for the plant, with an approximate maximum expected production capacity of 4,000 tonnes per annum. The construction of the plant has not yet commenced, and its specifications have been assessed in a concept study. Almonty Industries Inc. aims to keep the market informed about the progress of the planned development of the plant.