Almonty Industries Inc. said Tuesday that it is accelerating a large-scale drilling program at the Sangdong Molybdenum Project in South Korea [1].

The move comes as South Korea faces a molybdenum supply crisis. By confirming the ore grade potential of the site, Almonty aims to stabilize the local market and strengthen Western supply chains for the critical mineral [3].

The drilling operations are located in Yeongwol, Gangwon Province, adjacent to the company's existing Sangdong Mine [1]. According to the update released June 16, 2026, the drilling grades remain consistent with historical results [1].

Almonty Industries is a global producer of tungsten concentrate and is positioning the Sangdong project as a strategic pillar for the region [1], [3]. The company is speeding up its campaign to ensure the project can meet the urgent demand for molybdenum, a metal essential for various industrial applications and steel alloys.

The acceleration of the program is intended to provide a clearer picture of the mineral reserves available at the site. This data is critical for the project's progression and its ability to mitigate the current supply shortages affecting South Korean industry [1], [2].

“Almonty Industries is accelerating a large-scale drilling program at the Sangdong Molybdenum Project.”

The acceleration of the Sangdong Molybdenum Project highlights the growing urgency for Western-aligned nations to secure critical mineral supplies. As South Korea experiences a supply crisis, Almonty's ability to verify historical ore grades suggests that the project could become a primary domestic source, reducing reliance on volatile international imports and enhancing regional industrial security.