In a strategic move to bolster its operational capabilities across multiple continents, tungsten producer Almonty Industries has appointed a retired US Army Brigadier General to a key executive role. Steven L. Allen, a decorated military leader, has joined the company as its new Chief Operating Officer.
A Strategic Hire for Global Operations
The appointment of Steven L. Allen brings 33 years of senior leadership experience from the United States Army to Almonty’s management team. His background includes command of the 19th Expeditionary Sustainment Command and service as the Director of Logistics for US Forces in Korea. This deep logistical and command experience is viewed as directly applicable to the company’s current phase of aggressive operational expansion.
Allen’s military honors underscore a career of high-level responsibility:
* Defense Superior Service Medal
* Legion of Merit
* Bronze Star Medal
* Combat Infantryman Badge
* Former Commander of the U.S. Army Ordnance School
CEO Lewis Black highlighted that Allen’s “extensive Korea experience” makes him uniquely qualified to optimize tungsten supply flows through the company’s global network, a critical need at this juncture.
Timing Coincides with Flagship Mine Commissioning
This leadership change comes at a pivotal moment for Almonty, as it advances the commissioning of its flagship Sangdong mine in South Korea. Historically one of the world’s largest and highest-grade tungsten deposits, Sangdong is projected to supply over 80% of global tungsten production outside of China once at full capacity.
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The new COO’s mandate extends well beyond Sangdong, encompassing oversight of several key projects:
* Optimization of tungsten deliveries from the Sangdong mine in South Korea.
* Management of the Panasqueira mine in Portugal.
* Acceleration of the Sangdong molybdenum project.
* Advancement of the Gentung Browns Lake project in Montana, USA.
US Entry and Western Supply Chain Positioning
Allen’s appointment follows Almonty’s recent acquisition of the Gentung Browns Lake tungsten project in Montana. This deal marks the company’s first operational footprint in the United States, establishing it as an integrated Western tungsten supplier with assets in Europe, Asia, and North America.
Production at the Montana site is slated to commence in the second half of 2026. Preliminary plans target an annual output of approximately 140,000 metric tonne units of WO3. The project is located within a historic tungsten district that once supplied US strategic stockpiles.
Deepening Ties to Defense Sector Supply Chains
The recruitment of a highly decorated military logistics expert reinforces Almonty’s strategic positioning within defense industry supply chains. Tungsten remains a critical material for armor, ammunition, and electronics manufacturing. Recent US procurement bans and export restrictions from China have significantly heightened the strategic importance of non-Chinese tungsten sources.
The company currently holds a market capitalization of approximately $1.59 billion. In a recent development, Sphene Capital raised its price target for Almonty from 8.40 to 13.50 Canadian dollars, citing the expanded resource base resulting from the Gentung acquisition.
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