Almonty appoints Estevez to board
Toronto-listed tungsten producer Almonty Industries has appointed Alan Estevez to its board with effect from May 30.
CEO Lewis Black said that Estevez' deep expertise in national security strategy, defence logistics, and export controls – gained through decades of public service and leadership within the US government – brings significant strategic value.
"Alan’s firsthand experience in acquisition, contracting, and supply chain operations will be especially relevant as we advance our position as a key allied supplier of tungsten. His appointment aligns with our recently signed offtake agreement with a US defence contractor to supply tungsten oxide exclusively for American defence applications.
"We look forward to benefiting from his insights as we continue building long-term, sustainable value for our shareholders," said Black.
Almonty Industries is currently mining, processing and shipping tungsten concentrate from its Panasqueira mine in Portugal. Its Sangdong tungsten mine in South Korea, is currently under construction. The Sangdong mine was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, and has significant upside potential from an underlying molybdenum deposit.
Other development projects under way include the Valtreixal tin/tungsten project in north-western Spain and Los Santos Mine in western Spain.
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