Almonty Industries reported revenue of C$43.0 million for the second quarter of 2026. This represents a 498% increase from the C$7.2 million recorded in the same period of 2025. Record tungsten pricing drove the financial turnaround.
The company achieved a net income of C$181.8 million, or C$0.64 per share. This result reverses a net loss of C$58.2 million from the prior-year quarter.
Almonty is currently commissioning and ramping up its Sangdong tungsten mine in South Korea. The company closed an oversubscribed US$800 million convertible senior notes offering during the period. Cash reserves reached C$1.2 billion at the end of the quarter.