Tag Archives: Sandong

Almonty aims for ‘carbon neutrality’ at Sandong molybdenum mine

Environmental, Industrial minerals, Mineral project development, Power supply for mines, Sustainable mining, , , , , , , , ,

Almonty Industries is expanding its current environmental, social and governance (ESG) program at its Panasqueira mine in Portugal and at its Sangdong project (pictured) in South Korea, with the former set to receive a solar facility in the next 12 months and the latter eying up the use of underground electric fleets.

The solar project at Panasqueira, a tungsten mine, will see a 2.52 MW installation implemented over the next 12 months to produce 4.1 million kWh/y of renewable energy, which represents 21.5% of power consumption at the mine.

At the Sangdong tungsten mine, a third-party report will be concluded over the next three months to analyse the asset’s carbon footprint and how best to minimise it. Given the energy from the grid supplied to the Sangdong project is 100% renewable, the company says it has a “unique opportunity” to push towards carbon neutrality at the Korea site. The underground mine is currently under construction.

Lewis Black, Chairman, President and CEO of Almonty, said: “As we transition into the wider financial ETF markets of Asia and Australia, and our visibility continues to increase as a significant producer of the strategic metals of tungsten and molybdenum once Sangdong and Almonty Korea Moly opens, it has become increasingly important to ensure that we are continually reviewing and developing our ESG which sits perfectly in line with the equator principles around which the Sangdong project is being built.”

He added: “The aim for carbon neutrality at Sangdong is potentially achievable once underground electric fleets can maintain a charge for an entire shift, which is estimated to be technically possible within the next 18 months, but we are extremely fortunate that 100% of our energy comes from a renewable source making the target of carbon neutrality achievable.”

Almonty starts drift development at Sangdong tungsten mine in Korea

History of mining, Industrial minerals, Mine operation news, Mineral project development, Steel and iron ore, , ,

Almonty Industries has commenced drift development at the Sangdong tungsten mine in the Republic of Korea, and is on course to start full-scale mining in early 2020.

The development of some 4,000 meters of 4.5 m x 4.5 m transportation drifts, loading points, passing bays and cross-cuts connecting to orebodies is planned to be completed in 18 months.

Gangwon Mining is the contractor undertaking the work under the mine development contract executed on April 23, 2018, with all the permits for development previously obtained and the required registration of licensed personnel for health, safety, environment, explosive treatment, mechanical and electrical supervision completed.

The official ceremony for the first blast was held at Sangdong on September 26. Promptly after, the first blasting and subsequent development work began inside the Alfonse D portal.

Almonty’s Chairman, President and Chief Executive Officer Lewis Black said: “The beginning of the mine development work is an important and meaningful step to Almonty for bringing one of the largest and lowest cost tungsten mines in the world back into production after 25 years since its closure in 1993.”

Black added: “We are particularly pleased to have engaged Gangwon Mining, the most experienced and competitive mining contractor in Korea with no record of safety incidents over 20 year.”

The official commencement of underground development work will also change the status of the Sangdong mine to an operating mine, thus allowing the mine to be eligible for diverse local governmental support and subsidies provided by the mining promotion institutions such as the Korea Resource Corporation and the Mine Reclamation Corporation.

This will widen the spectrum of government subsidies significantly, expanding from the previously announced ongoing endowment for the pilot plant which the Korea Institute for Geoscience and Mineral Resources has provided, with the target completion of the pilot plant expected by the end of December.

The completion of drift development and mining of ore in intersecting areas together with the completion of the processing plant, which is planned to be commissioned in the June quarter of 2020, are expected to enable the Sangdong mine to start producing concentrate in the middle of 2020.

The mine is expected to annually produce some 230,000-240,000 metric tonne units when fully ramped up.

The Almonty Korea Tungsten mine was the powerhouse of the economy in the post-Korean War decades, contributing more than 50% of the country’s export revenue as one of the largest global tungsten producers. This mine, along with almost all other metallic mines in South Korea, closed in the 1990s primarily due to low commodity prices, at a time when South Korea was emerging as a manufacturing powerhouse.