Almonty Industries Inc.

Three-Year History 2023 On July 11, 2023, Almonty announced the collaboration between Almonty Korea Tungsten Corporation ( AKTC ), an indirect wholly-owned subsidiary of Almonty, which owns a 100% interest in the Sangdong Mine (as defined herein), and Korea Telecom ( KT ), which is introducing cutting-edge Mine Safety DX technology. Developed in partnership with KT, this innovative solution aims to enhance worker safety and promote efficient mining practices. The communication infrastructure established by KT and AKTC at the Sangdong Mine is based on Long Term Evolution technology. This infrastructure offers superior coverage and simultaneous access, surpassing the capabilities of Wi-Fi and radios traditionally used in mine communication. By utilizing leaky coaxial cables and mining designated line amplifiers, seamless communication is possible even in deep underground sections of the mine, ensuring communication and monitoring capabilities. In addition to improving safety standards, the Mine Safety DX technology also contributes to the efficient functioning of mining operations. By establishing a robust communication infrastructure, AKTC aims to enhance mining efficiency and productivity. The collaboration between AKTC and KT aligns with the South Korean Ministry of Trade, Industry and Energy’s Comprehensive Mine Safety Plan and supports the government’s goal of providing long-distance wide-area communication capabilities by 2027. 2024 On February 24, 2024, Almonty announced that it had commenced development of Level 4 ( L4 ) at the Panasqueira Mine (as defined herein).