Almonty Industries Joins Nasdaq in $90M Public Offering to Advance U.S. Tungsten Supply Ambitions

Key Highlights:

• Almonty raises US$90 million in an oversubscribed offering, uplists to Nasdaq under ticker “ALM”
• Capital to accelerate construction of Sangdong tungsten oxide facility in South Korea
• CEO Lewis Black emphasizes role as strategic tungsten supplier for U.S. defense and allies
• U.S. investors respond positively to critical minerals independence push
  
   

Almonty Industries Inc. (ASX: AII, Nasdaq: ALM) made headlines on Tuesday, July 15, 2025, with a transformative step in its global growth strategy — securing a US$90 million capital raise through a public offering while commencing trading on the Nasdaq Capital Market under the ticker “ALM.” The move not only marks Almonty’s entrance into one of the world’s most influential stock exchanges but also underlines the company’s expanding role as a cornerstone in the U.S. critical minerals strategy.

The announcement followed the successful pricing of 20 million common shares at US$4.50 per share, with a 30-day over-allotment option for an additional 3 million shares. The deal, led by Oppenheimer & Co. and Cantor Fitzgerald, was described as “upsized and oversubscribed,” reflecting strong investor demand and a bullish sentiment toward Almonty’s vision and strategic assets.

A Tungsten Powerhouse with Global Reach

Almonty is a diversified global producer of tungsten concentrate, currently operating the Panasqueira Mine in Portugal and constructing the Sangdong Mine in South Korea — historically one of the world’s largest and highest-grade tungsten deposits outside China.

The newly raised capital will primarily fund the Sangdong tungsten oxide facility, with the intent to strengthen Almonty’s standing as a “leading supplier of tungsten for the defense needs of the U.S. and its allies,” according to CEO Lewis Black.

“We are pleased to announce the pricing of our oversubscribed public offering, which concurrently marks our uplisting to the Nasdaq,” said Black.

“Our U.S. listing reflects our emerging status as America’s tungsten supplier, further supported by our ongoing redomiciling initiatives. The capital from this offering funds the development of our Sangdong facility, enabling Almonty to continue to rise in prominence.”

Strengthening the Critical Minerals Supply Chain

Almonty’s listing and capital raise come at a time of increasing geopolitical urgency around securing critical mineral supplies, particularly tungsten — a key metal used in defense, aerospace, semiconductors, and industrial applications.

With China’s near-monopoly on tungsten refining and export, U.S. policymakers and investors have shown renewed interest in diversifying sources. Almonty’s strategic positioning, with mining assets in non-conflict jurisdictions and advanced development projects, has made it an attractive vehicle for investment in North America’s mineral independence.

Moreover, Almonty’s intention to redomicile operations closer to the U.S. reinforces its commitment to serving Western industrial and military needs amid global tensions and supply chain fragmentation.

U.S. Markets Welcome ALM

The stock began trading on Nasdaq on July 14, 2025, replacing its prior listing on OTCQX, which was suspended at the close of markets on July 11. Shares are expected to remain dual-listed on the TSX and ASX, providing international exposure across North America, Europe, and Asia-Pacific markets.

According to company statements, net proceeds from the raise will be allocated to:

• Construction of the Sangdong tungsten oxide facility
• General working capital
• Other corporate purposes
   

The Nasdaq debut and robust offering response highlight rising investor appetite for exposure to critical mineral companies with real assets, geopolitical relevance, and scalable operations.

Analyst Commentary and Outlook

Analysts have pointed out that Almonty is entering a unique inflection point: its production ramp-up coincides with mounting U.S. defense spending and heightened legislative backing for domestic supply chains under acts like the Defense Production Act and Inflation Reduction Act.

Almonty’s Sangdong project also includes a significant molybdenum resource adjacent to its tungsten orebody, offering long-term optionality in strategic metals.

While tungsten prices remain firm, the listing provides Almonty with the visibility, liquidity, and capital access to scale swiftly — a critical factor in navigating the high capex nature of specialty mining projects.

Final Word from the CEO

“We are proud to enter into this transformational moment in our company’s journey,” Black added. “This listing validates our work over the past decade and sets the foundation for an exciting new chapter as we emerge as a major player in global tungsten supply.”

As Almonty takes its place on Nasdaq, the company is not only securing capital but also credibility. In the evolving geopolitical chessboard of resources, tungsten is proving to be a strategic lever — and Almonty, a rising force shaping the endgame.