If I asked you to name the world’s hottest commodities, what would you say? Chances are you wouldn’t say tungsten. Yet it has quietly staged one of the most extraordinary commodity rallies in recent memory. So, let’s talk about Almonty Industries Inc. (ALM), writes Nicholas Vardy, editor of The Global Guru.
Tungsten prices surged more than 600% from early 2025 through spring 2026. And unlike Bitcoin or meme stocks, there is a very good reason for it. Tungsten has become a pawn in the escalating economic battle between China and the West.
Almonty Industries Inc. (ALM)
Tungsten isn’t sexy. But tungsten possesses one extraordinary characteristic. It has the highest melting point of any pure metal: roughly 3,422°C. It’s also exceptionally dense and hard. That combination makes tungsten indispensable in everything from industrial cutting tools and semiconductors to aerospace equipment, armor-piercing ammunition, and missile components.
In February 2025, Beijing imposed export controls on a range of tungsten-related products and technologies, explicitly noting their dual civilian and military uses. Suddenly, a metal most investors had never heard of became a strategic asset.
Enter Almonty. Its crown jewel is the Sangdong tungsten mine in South Korea. Sangdong isn’t merely another junior mining prospect accompanied by some colorful PowerPoint slides and promises about what might happen in 2035. The mine is operating.
In June, Almonty began feeding stockpiled ore through its newly commissioned processing plant to produce saleable tungsten concentrate. The company entered the ramp-up with approximately 139,700 tonnes of stockpiled ore, which management estimated contained about $68 million of gross tungsten value at then-prevailing prices.
Recommended Action: Buy ALM.
