We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • ProMat 2023
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • ProMat 2023
    • Upload Your Video
Home » Survey Illustrates Dangers of China-Controlled Strategic Metals Supply Dominance
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

Survey Illustrates Dangers of China-Controlled Strategic Metals Supply Dominance

July 7, 2020
No Comments

TORONTO--(JULY 7, 2020)--Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / OTCQX: ALMTF / Frankfurt: 1MR) today announced results of an industry survey that show the significant challenges U.S.-based manufacturers face as a result of China’s dominance of the supply of strategic metals used in a number of critical products and business uses.

Almonty commissioned an online survey during the last week of June 2020, asking a series of raw material supply chain questions in front of roughly 150 business executives across industries such as construction, automotive, technology manufacturing, building products and electrical components. Click here for complete results.

According to the USGS1, China controls the market for nearly 35 precious minerals and metals that are important to the U.S. for production and manufacturing, and strategic metals like tungsten are among them. Manufacturing executives are growing concerned that China has limited the amount of tungsten exports that can be shipped to the U.S., and this has caused business challenges from the supply of these metals.

According to the recent survey, 26% of executives have had to source their strategic metals from Vietnam/Pan Asia, while 20% are sourcing from China, Mexico and South America. However, China remains a significant sourcing location for many executives. One out of five polled said they are sourcing as much as 40% of all their strategic metals from China.

“It’s a perilous time for U.S. manufacturers to be facing a constrained supply chain of precious and strategic metals that are so important to industry, business and consumer uses today,” said Lewis Black, CEO of Almonty Industries. “COVID-19 has placed unwanted economic pressure on many U.S. manufacturers, on top of the China/U.S. trade war that was already placing difficult price and financial strains on U.S. industries.”

When asked about the greatest challenges with their raw materials supply chain, most respondents (63%) said it is detrimental to their business that China controls too much of the supply.

Another 74% said the greatest threat to their manufacturing business over the next 12 months would be supply chain disruptions and constraints.

Raw materials like tungsten are used to make items such as drill bits, mining equipment, construction tools, lamps, transistors and alloys. It is one of the most durable, heat-resistant metals on earth.

Click here for the complete survey results.

About Almonty

The principal business of Toronto, Canada-based Almonty Industries Inc. is the mining, processing and shipping of tungsten concentrate from its Los Santos Mine in western Spain and its Panasqueira mine in Portugal as well as the development of its Sangdong tungsten mine in Gangwon Province, South Korea and the development of the Valtreixal tin/tungsten project in north western Spain. The Los Santos Mine was acquired by Almonty in September 2011 and is located approximately 50 kilometres from Salamanca in western Spain and produces tungsten concentrate. The Panasqueira mine, which has been in production since 1896, is located approximately 260 kilometres northeast of Lisbon, Portugal, was acquired in January 2016 and produces tungsten concentrate. The Sangdong mine, which was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, was acquired in September 2015 through the acquisition of a 100% interest in Woulfe Mining Corp. Almonty owns 100% of the Valtreixal tin-tungsten project in north-western Spain. Further information about Almonty’s activities may be found at www.almonty.com and under Almonty’s profile at www.sedar.com.

# # #

1: https://pubs.er.usgs.gov/publication/70202434

Submit your logistics, material handling, or supply chain related company news in DC VELOCITY's Industry Press Room section or New Products section
    • Related Articles

      New Report Illustrates Severity of COVID-19 Impact on Global Supply Chains

      AXIS GLOBAL LOGISTICS AND IMPERIAL LOGISTICS INTERNATIONAL FORM A STRATEGIC PARTNERSHIP PROVIDING WORLDWIDE SEAMLESS INTEGRATION OF SUPPLY CHAIN SOLUTIONS FOR GLOBAL RETAILERS

      Averitt Releases 2021 “State of the North American Supply Chain” Survey Results

    You must login or register in order to post a comment.

    Report Abusive Comment

    Most Popular Articles

    • Logistics pay remains high, but job satisfaction dips

    • Schneider National opens innovation center at Wisconsin headquarters

    • FedEx trims costs again with plan to shut 29 locations in its less-than-truckload division

    • DHL Supply Chain will expand Locus Robotics fleet to 5,000 AMRs

    • Ocado plans to grow automation beyond grocery sector with 6 River Systems acquisition

    Now Playing on DCV-TV

    4cd1b546 9bdb 4b5e 9eaa 10bc1c4f367d

    The Robotize GoPal Autonomous Mobile Robot (AMR) Solution at Kärcher

    DCV-TV 4: Viewer Contributed
    Kärcher is a German global leader within cleaning products for both professional and home use. The company recently expanded its production capacity in Europe with the construction of a second factory in Romania. With two large factories in operation and a looming labor shortage, Kärcher began looking for a way to...

    FEATURED WHITE PAPERS

    • Exploring Customized Forklift Solutions

    • Exploring the Future of Labor Management With Capacity Planning

    • Three layers of forklift safety: Promoting operating best practices

    • The Complete Guide to Automated Packaging

    View More

    Subscribe to DC Velocity Magazine

    GET YOUR FREE SUBSCRIPTION
    • SUBSCRIBE
    • NEWSLETTERS
    • ADVERTISING
    • CUSTOMER CARE
    • CONTACT
    • ABOUT
    • STAFF
    • PRIVACY POLICY

    Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing