|Delayed - 10/23 12:12:34 pm|
News | Financial – Almonty Industries: Access To Critical Raw Materials
|09/19/2020 | 05:20am|
News | Financial - https://news.financial has published an article titled 'Developments Of Great Importance' in which Almonty Industries lists as an emerging force in its increasing ability to supply the raw material Tungsten to a resurging global manufacturing industry:
Article by Mario Hose, News|Financial:We live in a global business environment, though currently we seem detached due to the fight against the Corona Pandemic, business goes on and this too shall pass. Elon Musk is already preparing for the conquest of space with SpaceX and the fierce battle for market share in the automotive sector continues. Raw materials are a key component of the manufacturing industry. Therefore those who can secure access to rare raw materials often gain a decisive competitive advantage. These raw materials can also come in the form of gases and are of crucial importance, especially if they are irreplaceable and cannot be produced artificially.
ALMONTY INDUSTRIES INC - ACCESS TO CRITICAL RAW MATERIALS
Tungsten is one of the hardest materials on earth. The use of this metal is diverse and often significant. In the past, probably the best known use of tungsten was as a filament in light bulbs. Nowadays the raw material is very often used in the production of alloys. But tungsten is also used in the production of electronic components. Due to its special hardness, components and products made of tungsten are used in the military and aerospace industries.
The EU has classified tungsten as a critical raw material. Anyone who has access to this raw material in legally secure regions can count on state support. Almonty is one company that benefits from this advantage, because the company owns the Sangdong Mine in South Korea, where the worlds largest tungsten deposits are believed to be found. To enable the company to press ahead with the extraction of the raw material, the German Kreditanstalt für Wiederaufbau (KfW) has committed a senior project financing loan of USD 76 million. First Berlin analysts, recommend Almonty stock as a 'buy' with a target price of CAD 1.45.
Almonty Industries Inc. published this content on 19 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 September 2020 09:19:02 UTC