The Los Santos Project produces tungsten concentrate from scheelite ore. The project is currently the only open pit tungsten mine in operation in the west. The open pit nature of the Los Santos Project helps Almonty control its costs as it allows for greater flexibility in mining and the planning/production process.

Almonty Industries is currently engaged in a 28,000 metre exploration campaign (7,000 metres per year over the next 4 years) with a view to extending the mine life and further delineating the resource at the Los Santos Project.

Underground mining at the Los Santos Project may be an option in the future in order to target the recovery of additional higher grade veins of ore after the open pit mining has recovered all the economically viable ore using this mining process.
 

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In the past  2010, the Los Santos Project had an annual output of approximately 225,000 tonnes of ore (at 0.25% WO3) and  the mine had an annual output of approximately 441,976 tonnes of ore (at 0.27% WO3).

Tungsten is a unique metal due to its high temperature properties and exceptional high density. The metal also has widespread uses with approximately half of all tungsten used in the production of hard materials.

Namely tungsten carbide, with the remaining major uses being in alloys, steels and chemicals. Tungsten occurs primarily as wolframite ore and scheelite ore within massive pyroxene skarns.
 

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Located in the western Iberian Peninsula in the province of Salamanca, the Los Santos Project is situated in a historical scheelite producing area and is the only open pit tungsten mine in the west.

The Project is located approximately 50 km from Salamanca, in western Spain and within 200 km of Almonty Industries’ management team’s former Panasqueira tungsten mine in Portugal and Ormonde’s past producing Barruecopardo project in Spain.
 

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On target with operational improvements, increased tungsten recovery rate to 64.8%  with an average feed grade of 0.32% during the month.

Exploration upside with a 28,000 metre drilling campaign over the next four years; Turn-key mine and processing are facility ;Only open pit Tungsten mine in operation in the west ;

Alignment of interests through significant management and insider ownership;33% increase in the quoted tungsten price as a result of China approaching a supply deficit and serious tightening of global supply;
 

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The principal business of Toronto, Canada based Almonty Industries (TSXV:AII2) is the mining, processing and shipping of tungsten concentrate from their tungsten mine at the Los Santos Project.

The Los Santos Project was acquired by Almonty in September 2011 from a gold organization that lacked the necessary experience and expertise of tungsten extraction. The mine was originally opened in 2008 and commissioned in July 2010 by its former owner.

The Project is located approximately 50 km from Salamanca in western Spain and within 200 km of Almonty Industries management team’s former Panasqueira tungsten mine in Portugal and Ormonde’s past producing Barruecopardo project in western Spain.
 

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The drill results for the Peaked Mountain target for the Dungarvon tungsten-molybdenum-tin project in New Brunswick. The completely completed six holes at Peaked Mountain, for a total of 837 meters of drilling.

Mark Fields, President and CEO of Geodex stated: “Our drill program was designed to locate the origin of the numerous tungsten-molybdenum high grade boulders ."

"Which may have been sourced from a potential greisen-quartz vein system at Dungarvon. The drilling has limited the potential size of a deposit with the character of the boulders which were our exploration focus."
 

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Vietnam ferro-tungsten market quiet.

The demand from the steel market is soft, and the downstream customers only purchase from hand to mouth.

Moreover, the European customers will leave the market for holiday, and it is expected that the trading volume will be small in the near future.

A major ferro-tungsten trader based in Vietnam expressed that they has resumed productions into producing.

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China, as the worlds largest Tungsten resource county, holds 58.95% of global tungsten reserves and supplies around 85% of tungsten ore worldwide. In 2012, China newly added 200,000 tons of tungsten(WO365%) reserves and output of 131,100 tons of tungsten concentrates (WO365%), down 3.35% from a year earlier. Exposed to the restrictive policies on control of exploitation amount and export quotas as well as new limited prospecting of resources, etc, the supply and demand in tungsten market is obviously out of balance, and it is expected that Chinas output of tungsten ore will see limited growth in the upcoming several years, and that global tungsten market will be still in tight supply.

The slowdown in downstream demand from machining, electronics, real estate markets in 2012 caused the sluggish development of China tungsten industry, with the consumption of tungsten concentrate (WO365%) decreasing by 15.6% year-on-year and the lingering price slump.

Starting from Mar.2013, the demand for tungsten products at home and abroad saw a huge surge, with the selling price on a gradual rise.

In China, major tungsten producing regions concentrate in Jiangxi, Hunan, Henan, Guangxi and Fujian, the combined tungsten concentrate (WO365%) of which occupied over 88% of Chinas total in 2012. In particular, Jiangxi came out top in terms of tungsten concentrate (WO365%) output registering 46,500 tons.


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European ferro-tungsten prices expected to stabilise.

Offering prices in the European ferro-tungsten market moved above USD50.00kg W in warehouse Rotterdam on Thursday as traders awaited the outcome of consumer tenders which should give greater indication over the pricing trend. Consumer purchase prices have yet to move above USD49.50kg W in warehouse Rotterdam.

A large Northern European located trader of ferro-tungsten revealed  that the generally soft demand from the downstream European steel industry has kept prices for the noble ferroalloy relatively stable this week.

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At the Geological Society of South Africa’s 2013 GeoForum conference in Johannesburg last week, Core Consultants MD Lara Smith pointed at three metals (or groups of metals) that will be at a high risk of supply scarcity from 2015. Smith explained that while the European Union and US Department of Defense don’t wholly agree on all the metals they consider critical, tungsten, tantalum and rare earths are without a doubt at the top of both their lists.

Smith also said that in recent years, tungsten supply has not been able to keep up with rising demand, which has necessitated the sale of tungsten stockpiles by the Chinese, Russian and American governments. “Based on China’s decision to limit exports to the rest of the world, we estimate that the primary tungsten market is in deficit and, this year, we expect the deficit to be in the order of 15 000 t,” Smith warned at the conference.

A shortage of supply, though bad for the market, can definitely be good for prices. Tungsten APT prices are currently sitting at $400 to $410 per metric ton unit. It is reported that “Chinese tungsten APT prices have kept rising as smelters try to avoid APT production costs rising higher than sales prices.” Buyers, the smelters explained, are unwilling to pay more than 215,000 renminbi per tonne. Prices for tungsten APT 88.5 percent have climbed from last week’s 212,000 to 215,000 renminbi per tonne to 215,000 to 220,000 renminbi. So far this year, prices have climbed by 22 percent.

Meanwhile, European ferro-tungsten prices have also risen sharply following an announcement from Vietnamese producer YoungSun that due to power-related issues, it is uncertain as to when shipments will return to full capacity. YoungSun has confirmed that it will only be able to meet 50 percent of its deliveries for the remainder of the year. Prices for ferrotungsten min W 75 percent have risen from $47.50 to $49.50 per kilogram to $48.50 to $50.25 per kilogram.

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