The Sangdong tungsten mine, known as the world's largest and the only one in South Korea, has been reopened after 32 years of closure. The reopening ceremony was held by Almonty Korea Tungsten on October 17, at the site in Yeongwol-gun, Gangwon Province. This mine was a symbol of the South Korean mining industry in the 1980s but had to cease operations in 1994 due to a sharp decline in international tungsten prices and changes in the industry structure.

Since acquiring the mine in 2015, Almonty Industries has been developing transportation tunnels and processing facilities to revitalize the site. The processing plant is designed to handle 640,000 tons of ore annually, and plans for subsequent value-added tungsten processing industries are in place. Moreover, they aim to establish a high-purity tungsten oxide production facility in the region, in collaboration with Yeongwol-gun, further enhancing South Korea's strategic mineral capabilities.

The significance of the Sangdong mine's reopening is amplified by current international dynamics, particularly the 500% increase in tungsten prices within a year due to China's trade restrictions and military demand driven by Middle Eastern conflicts. Tungsten is categorized as a critical mineral for various industries, including defense and semiconductors; thus, its strategic value is heightened, reflecting its essential role in numerous advanced technologies and military applications.