Panasqueira Tungsten-Tin Mine Presentation
ECONOMIC I
IMPORTANCE
0
9
TUNGSTEN PRICE IN HIGHLY PROFITABLE ZONE
TUNGSTEN PRICE IN US$ PER MTU
$350
Highly Profitable Price Zone
$300
$250
$200
2020
2021
-60% rise in 1½ years
2022
2023
THE MOST IMPORTANT AMONG ALL RAW MATERIALS*
Gold
Vanadium
Lithium
Copper
Silver
Titanium
Nickel
Aluminum
Molybdenum
Cobalt
Manganese
Chromium
Iron Ore
Magnesium
PGM Palladium
PGM Rhodium
Tungsten
2024
END MARKE
RKETS
30%
13%
10%
$309
↑ t
A ALMONTY
fin
TIGHT MARKET WITH GEOPOLITICAL TENSION
➤ South Korea, the largest per capita tungsten consumer worldwide, imports 94.7%
of its tungsten supply from China
Increasing dependence on China and Russia is increasing tension in the market
given the non-transparent nature of the countries and the lack of assurance of fair
production practices
➤ EU, US, Australia, Canada & South Korea declared tungsten as a critical raw material
as a result of high supply risk and high economic importance
➤ Roskill recently designated Tungsten a technology material, a function of its high
importance in new technologies such as semi-conductors, batteries and 5G
➤ USA REEShore Act (2022) bans Chinese tungsten in military equipment by 2026,
while the European Commission extends anti-dumping duties on Chinese
tungsten carbide imports for 5 more years in 2023.
10%
8.5%
8%
6%
10%
UIU
DEFENSE
5%
OTHER
AUTOMOTIVE
MINING
INDUSTRIAL
ENERGY
CONSTRUCTION
AEROSPACE
CONSUMER
NANO TUNGSTEN OXIDE
The material to supply the battery anode &
cathode manufacturing industry
The raw material to produce tungsten
hexafluoride (WF6) gas used in the production of
all semiconductors -> maximizing Almonty's value
through higher margins
*Source: Study on the review of the list of critical raw materials, European Commission 2023View entire presentation