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July 28th, 2022 | 05:30 CEST

Almonty Industries CEO Lewis Black on the global dependence on China

  • Expert
  • Tungsten
  • Almonty
  • Mining
Photo credits: pixabay.com

Lewis Black is the CEO of Almonty Industries and has over 15 years of experience in the mining industry. The company is specialized in acquiring operations and assets in tungsten markets. Tungsten is one of the critical raw materials and with this in mind, Almonty's work is of importance to many different processing industries around the globe. In the current tense situation in connection with supply chain issues and sanctions as well as environmental protection requirements, the company is increasingly coming into focus.

time to read: 1 minutes | Author: Mario Hose
ISIN: ALMONTY INDUSTRIES INC. | CA0203981034

Table of contents:


    Dr. Thomas Gutschlag, CEO, Deutsche Rohstoff AG
    "[...] China's dominance is one of the reasons why we are so heavily involved in the tungsten market. Here, around 85% of production is in Chinese hands. [...]" Dr. Thomas Gutschlag, CEO, Deutsche Rohstoff AG

    Full interview

     

    How do you assess the global dependence of the technology industry on China and what opportunities does this present for Almonty Industries?

    'As China controls roughly 83% of the global tungsten supply, the world has felt much of the ongoing supply chain problems stemming from the country’s dominance in the technology industry. With tungsten being an integral raw material needed in the production of semiconductors, batteries, vibrators in phones, and even the electrical circuit boards for the screens in the phones, other countries, such as the U.S, have been heavily impacted by China’s recovering supply chain, in which demand and prices have increased.

    This comes after months of Chinese COVID-related disruptions, however, other tungsten miners outside of China, such as Almonty Industries, are seeing increased opportunities to diversify the supply by laying the groundwork for mines that will give manufacturers an alternative source of tungsten. For example, Almonty recently announced the reopening of its Sangdong Mine in South Korea, which gives hope that the tungsten stockpile will increase globally, breaking away from Chinese dependence.'

    Lewis Black, CEO, Almonty Industries Inc.


    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a "Transaction"). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company.

    In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.

    For this reason, there is a concrete conflict of interest.

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    Der Autor

    Mario Hose

    Born and raised in Hannover, Lower Saxony follows social and economic developments around the globe. As a passionate entrepreneur and columnist he explains and compares the most diverse business models as well as markets for interested stock traders.

    About the author



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