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Almonty Industries Initiates Legal Action Against Pure Tungsten Over Alleged Misinformation
Almonty Industries Inc. has launched legal proceedings against Pure Tungsten Inc. in the Ontario Superior Court of Justice, according to an announcement made on October 10, 2025. The lawsuit targets what Almonty describes as false and misleading statements made by Pure Tungsten regarding Almonty’s operations, specifically its Sangdong Mine, and past involvement of Mr. Tiger Kim.
The legal action seeks court intervention to prevent Pure Tungsten from continuing to disseminate allegedly false information and to mandate corrective disclosures. In its filing, Almonty emphasized its dedication to maintaining market integrity and protecting shareholders from what it characterizes as harmful misinformation.
Almonty Industries holds a significant position in the global tungsten market as a leading producer of tungsten concentrate, a metal designated as strategic due to its critical applications in defense systems and advanced technologies. The company’s flagship Sangdong Mine in South Korea represents one of the world’s largest and highest-grade tungsten deposits and is projected to account for more than 80% of global tungsten production outside of China once fully operational.
The dispute comes at a time of increasing geopolitical importance for tungsten resources, as Western nations intensify efforts to secure supply chains for critical minerals independent of Chinese sources. Tungsten’s applications in armor-piercing ammunition, aerospace components, and high-temperature alloys make it particularly valuable for defense readiness.
Beyond South Korea, Almonty maintains operations in Portugal and development projects in Spain, positioning itself as a key supplier in the non-Chinese tungsten market. This geographic diversification aligns with growing concerns among Western allies regarding mineral security and resource independence.
Despite its strategic positioning in the tungsten market, Almonty’s financial performance shows some concerning indicators. According to Spark, TipRanks’ AI Analyst, the company carries high leverage and has experienced persistent losses, contributing to a “Neutral” assessment of the stock. This financial situation stands in contrast to the company’s market positioning and resource potential.
On the technical side, analysts note moderate bullish momentum for Almonty’s stock, though this is counterbalanced by negative fundamentals including a negative price-to-earnings ratio and absence of dividend yield. The most recent analyst rating on Almonty stock indicates a “Buy” with a price target of C$11.00, suggesting potential upside despite current financial challenges.
Almonty Industries currently maintains a market capitalization of approximately C$2.36 billion, with an average trading volume of 471,513 shares. The stock’s technical sentiment signals suggest a “Buy” recommendation, creating a somewhat mixed picture when combined with the fundamental analysis.
The legal dispute with Pure Tungsten represents a significant development for Almonty as it works to protect its market reputation while advancing its production capabilities. The outcome of this legal action could impact investor confidence and potentially influence the company’s ability to secure financing for ongoing development projects.
The tungsten market itself remains tightly controlled, with China historically dominating global production. Almonty’s development of non-Chinese sources comes as industrial consumers and defense contractors increasingly seek supply diversity and security. This market dynamic provides important context for understanding the significance of both the Sangdong Mine and the current legal action.
As the case proceeds through the Ontario Superior Court of Justice, market observers will be watching for potential impacts on Almonty’s share price and operational momentum in its critical mineral development strategy.
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4 Comments
This is an interesting development in the tungsten sector. As a critical mineral, it’s important that information about major producers like Almonty is accurate and transparent. I’ll be following this case closely to see how it unfolds.
The Sangdong Mine sounds like a strategically important asset for Almonty. No wonder they’re taking action to defend its reputation. Tungsten is a critical material, so these types of corporate battles can have broader implications for supply chains and national security.
Interesting development in the tungsten market. I wonder what specific claims Pure Tungsten made that Almonty considers misleading. Lawsuits like this can get messy, but it’s important for companies to protect their reputation and market position.
Almonty seems to be taking a strong stance against what it sees as harmful misinformation. As a major tungsten producer, they likely feel a responsibility to maintain transparency and integrity in the market. I’ll be curious to see how this legal dispute unfolds.