The Plansee Group, headquartered in Reutte, Austria, has extended its long-term off-take agreement with Almonty Industries for tungsten concentrate from the Sangdong mine in South Korea by a further six years, taking the total term of the agreement to twenty-one years.
The agreement, announced ahead of schedule, is intended to strengthen long-term tungsten supply for Europe and the USA. The companies stated that it also reflects their ongoing collaboration to develop a supply chain outside China.
Tungsten is recognised as a critical raw material for a wide range of industrial applications, including cutting tools, high-technology products, energy systems, mobility and defence. As geopolitical uncertainty and supply chain pressures continue, manufacturers are increasingly seeking alternative sources of tungsten outside China.
Original article: https://www.pim-international.com/plansee-and-almonty-extend-sangdong-tungsten-supply-agreement/
Author: Andy Cormack
