Almonty Industries Inc. Appoints National Security Expert Alan Estevez to Board of Directors
- Almonty Industries appointed Alan Estevez to its Board, bringing national security expertise effective May 30, 2025.
- Estevez's role aims to enhance Almonty's position in the tungsten market, especially for defense applications.
- His insights will help Almonty navigate regulatory challenges and expand its operational capabilities in the defense sector.
Almonty Industries Strengthens Board with National Security Expertise
Almonty Industries Inc. (TSX: AII) announces the strategic appointment of Alan Estevez to its Board of Directors, effective May 30, 2025. Estevez, a distinguished figure in national security and defense logistics, brings a wealth of experience from his tenure as Under Secretary of Commerce for Industry and Security, where he played a pivotal role in addressing adversarial military advancements, particularly from China and Russia. His background encompasses significant leadership positions within the U.S. Department of Defense, focusing on defense acquisition and supply chain operations, as well as advisory roles in top consulting firms. Estevez's accolades include three prestigious Department of Defense Distinguished Public Service Medals and the Presidential Rank Distinguished Executive Award, underscoring his contributions to national security.
This appointment comes at a crucial juncture for Almonty as the company enhances its position within the global tungsten market. Recently, Almonty secured an exclusive offtake agreement with a U.S. defense contractor for tungsten oxide intended for defense applications, demonstrating its commitment to becoming a key supplier in this sector. Almonty’s CEO, Lewis Black, emphasizes Estevez's expertise as instrumental in navigating the complex regulatory landscape and expanding operational capabilities, particularly as the company seeks to solidify its role in supplying critical materials for defense and industrial applications. Estevez's insights are expected to bolster Almonty’s strategic initiatives, ensuring the company remains competitive while adhering to governance best practices.
As a leading global producer of tungsten concentrate, Almonty operates the Panasqueira mine in Portugal and is developing the Sangdong tungsten mine in South Korea, noted for its substantial and high-grade tungsten deposits. Additionally, the company is advancing projects in Spain, including the Valtreixal tin/tungsten project and the Los Santos Mine. The integration of Estevez into Almonty’s leadership not only signifies a commitment to robust governance but also highlights the company's focus on leveraging his national security insights to navigate upcoming challenges and opportunities. This strategic alignment positions Almonty to enhance its long-term value for shareholders while contributing to the global supply chain in defense-related tungsten production.
In summary, Estevez's appointment reflects Almonty's dedication to strengthening its governance and operational strategies in an increasingly competitive landscape. By integrating experienced professionals with a strong background in national security and logistics, the company aims to enhance its reputation and address the growing demand for tungsten in defense applications. As Almonty continues to expand its operations, the leadership of figures like Estevez will be pivotal in navigating the complexities of the mining industry and securing the company's future growth.