Panasqueira Tungsten-Tin Mine Presentation
CURRENT TRENDS & NEWS
POTENTIAL NEW DOMESTIC DEMAND FOR TUNGSTEN IN SOUTH KOREA?
A ALMONTY
MULTINATIONAL
GROUP ENTERS
TUNGSTEN
MARKET
Daegu City signed an investment agreement with IMC End Mill on February 7, 2024, to construct a tungsten powder manufacturing facility
IMC End Mill, an affiliate of the Berkshire Hathaway-owned IMC Group, will lead the establishment of the facility in Gachang-myeon, Daegu, with a significant
investment of 130 billion won (approximately US$97.5 million)
IMC Group President, Ilan Gehry, underscores the commitment to economic prosperity, job creation, and industry advancement. The initiative aims to distribute high-
quality tungsten materials across diverse industries, contributing to the revitalization of the local economy
GAME CHANGER
FOR BATTERIES?
"According to the researchers at N1 Technologies, as the
next-generation battery, they had added tungsten and
carbon multi-layered nanotubes while working on anodes.
This will recharging the Nano Bolt lithium tungsten battery
faster, and stores more energy."
(BISInfotech, EV MECHANIA)
Rest of World 1,7%
Rwanda 1,3%
Bolivia 1,7%
Russia 2,7%
Vietnam 5,7%
Austria 1,1%
Spain 0,8%
Portugal 0,6%
SCARCE METAL
HIGH DEPENDANCY
ON CHINA
Total tungsten
production*
84,100t
China 84,4%
Three major Korean companies have propelled Korea to become the world's second-largest
EV battery manufacture
The Sangdong Tungsten Mine emerges as a stable and cost-effective alternative, empowering
these companies to diversify supply chains and reduce reliance on China
Tungsten, indispensable in EV battery and semiconductor production, plays a pivotal role at
the heart of EV battery technology, contributing to enhanced energy density
As a crucial battery component, tungsten not only improves energy density but also advances
battery technology, underscoring its key role in both anode and cathode manufacturing
Korea - location of the Sangdong mine - imports 94.7% of all tungsten and is the largest
per capita consumer worldwide
Declared "critical raw material" as a result of high supply risk and high economic
importance by most of the countries, e.g. Australia, US, Canada, EU & South Korea
*Source: U.S.Geological Survey, Mineral Commodity Summaries January 2023, est. production in 2022
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