Almonty Industries Appoints New CFO Jorge Beristain
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy ALM?
Source: seekingalpha
Almonty Industries Inc's stock rose by 5.69% as it crossed above the 5-day SMA, reflecting positive investor sentiment following recent leadership changes.
The company announced the appointment of Jorge Beristain as Chief Financial Officer effective June 1, 2026, aimed at supporting the expansion of the Sangdong Mine in South Korea, which is critical for the Western tungsten supply chain. This strategic move is expected to enhance Almonty's position in the market amid rising demand for tungsten due to geopolitical tensions.
The appointment of Beristain, who has extensive financial management experience, is seen as a pivotal step for Almonty as it navigates future challenges and aims for robust growth in the tungsten sector.
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Analyst Views on ALM
Wall Street analysts forecast ALM stock price to fall
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 19.680
Low
12.00
Averages
12.00
High
12.00
Current: 19.680
Low
12.00
Averages
12.00
High
12.00
About ALM
Almonty Industries Inc. is a diversified and global producer of tungsten concentrate. The Company is engaged in mining, processing and shipping tungsten concentrate from its Panasqueira Mine in Portugal. It also has a significant molybdenum resource on a separate property adjacent to the tungsten orebody at the Sangdong Mine. Its additional development projects include the Valtreixal Project in northwestern Spain and Los Santos Mine in western Spain. The Panasqueira Mine is located in Covilha, Castelo Branco, Portugal. The Sangdong Mine is located at Sangdong in the south-eastern Korean Peninsula, approximately 170 km east-southeast of Seoul, South Korea. The Valtreixal Mine is a potential open pit operation, and is located in the northwest part of the Zamora province, in the Castilla de Leon region of Spain. It also operates Woulfe, whose properties are located in Gangwon Province, Republic of Korea, and whose operations relate primarily to the development of the Sangdong Project.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Surge in Investment: At the 2026 PDAC conference, Western governments committed $12.1 billion through 30 partnerships for new mining projects, reflecting strong demand and confidence in critical mineral resources.
- Global Supply Chain Strain: The latest OECD report indicates that global export restrictions on critical raw materials have reached an all-time high, with supply concentration for cobalt, lithium, and rare earths exceeding 90%, driving capital down the entire Western mineral pipeline from early-stage exploration to commercial production.
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- Resource Potential: The Magno project spans over 37,200 hectares and contains silver, tungsten, lead, zinc, and indium, with tungsten classified as a critical mineral and no primary domestic production in Canada, highlighting the project's strategic importance in resource development.
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- Interim Management: Until Beristain's start date, Chief Development Officer Guillaume de Lamaziere will serve as interim CFO, ensuring continuity and stability in financial management, thereby mitigating potential risks associated with executive transitions.
- Rich Financial Background: Beristain most recently served as Vice President of Finance at Ryerson Holding, where he was a key advisor to the CEO, CFO, and Board, and his extensive experience in financial management is expected to bring new perspectives and strategic direction to Almonty Industries.
- Industry Influence: Having previously served as CFO of Central Steel & Wire Co. and currently as an Independent Director at Elevra Lithium, Beristain's broad industry connections and experience will enhance Almonty's competitiveness in the tungsten market.
See More
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- Executive Appointment: Almonty Industries announced the appointment of Jorge Beristain as Chief Financial Officer effective June 1, 2026, aimed at supporting the company's expansion of the Sangdong Mine in South Korea, which is expected to enhance its strategic role in the Western tungsten supply chain.
- Predecessor Departure: Former CFO Brian Fox has departed immediately, with Almonty expressing gratitude for his service, ensuring stability during the transition period as Guillaume de Lamaziere steps in as Interim CFO until the new appointee starts.
- Financial Leadership Experience: Jorge Beristain brings extensive financial management experience, having served as Vice President of Finance at Ryerson Holding Corp, where he played a key role in doubling the company's market capitalization, showcasing his exceptional capabilities in the basic materials and mining sectors.
- Strategic Growth Potential: Almonty's Sangdong Mine is considered a critical component of the global non-China tungsten supply chain, and with rising geopolitical tensions, the demand for tungsten is expected to surge, positioning the company strategically for robust future growth.
See More
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- Tungsten Supply Crisis: Due to Chinese export controls, tungsten processing prices have surged from around $300 to $1,775 per metric tonne within a year, depleting Western inventories to critically low levels, thereby impacting the production and profitability of related companies.
- Gold Project Advancement: GoldHaven Resources is conducting a 1,741-kilometre high-resolution magnetic survey over its Magno Project, expected to launch in June 2026, aimed at enhancing exploration efficiency for silver and tungsten, thereby strengthening its market competitiveness.
- Diversified Investment Strategy: GoldHaven is also advancing its Copeçal Gold Project in Brazil, where the first diamond drilling program confirmed gold and copper anomalism, with Phase 2 drilling planned for mid-Q2 2026, showcasing the company's strategic vision in multi-project development.
See More
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- Surge in Investment: At the 2026 PDAC conference, Western governments committed $12.1 billion through 30 partnerships for new mining projects, reflecting strong demand and confidence in critical mineral resources.
- Global Supply Chain Strain: The latest OECD report indicates that global export restrictions on critical raw materials have reached an all-time high, with supply concentration for cobalt, lithium, and rare earths exceeding 90%, driving capital down the entire Western mineral pipeline from early-stage exploration to commercial production.
- GoldHaven Financing Expansion: GoldHaven Resources announced an upsizing of its non-brokered financing to $1.2 million due to strong investor demand, which will further support its fully funded exploration program at the Magno Project in British Columbia, expected to enhance drilling activities targeting a large-scale, multi-phase mineral system.
- Strategic Mineral Potential: The Magno project spans over 37,200 hectares and contains silver, tungsten, lead, zinc, and indium, with tungsten classified as a critical mineral, positioning GoldHaven's exploration efforts to significantly bolster its competitiveness in the critical minerals market.
See More
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- Financing Upsize: GoldHaven Resources has upsized its non-brokered financing to $1.2 million due to strong investor demand, which is expected to further bolster its fully funded 2026 exploration program at the Magno Project in British Columbia, supporting an expanded drill campaign targeting a large-scale, multi-phase mineral system.
- Resource Potential: The Magno project spans over 37,200 hectares and contains silver, tungsten, lead, zinc, and indium, with tungsten classified as a critical mineral and no primary domestic production in Canada, highlighting the project's strategic importance in resource development.
- Geological Assessment: An independent geological review of GoldHaven's Copeçal Gold Project in Brazil confirmed a large-scale, structurally controlled hydrothermal gold system, with a Phase II drill program planned for 2026 to test high-priority structural and geophysical targets, further advancing resource development.
- Market Outlook: The global critical minerals market is projected to nearly double to $715 billion by 2035, with North American investment growing rapidly, positioning GoldHaven Resources favorably to attract more institutional capital to support its mineral development initiatives.
See More
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- Executive Change: Almonty Industries announced the appointment of Jorge Beristain as Chief Financial Officer effective June 1, 2026, succeeding Brian Fox who departed immediately, indicating a strategic shift in leadership to tackle future challenges.
- Interim Management: Until Beristain's start date, Chief Development Officer Guillaume de Lamaziere will serve as interim CFO, ensuring continuity and stability in financial management, thereby mitigating potential risks associated with executive transitions.
- Rich Financial Background: Beristain most recently served as Vice President of Finance at Ryerson Holding, where he was a key advisor to the CEO, CFO, and Board, and his extensive experience in financial management is expected to bring new perspectives and strategic direction to Almonty Industries.
- Industry Influence: Having previously served as CFO of Central Steel & Wire Co. and currently as an Independent Director at Elevra Lithium, Beristain's broad industry connections and experience will enhance Almonty's competitiveness in the tungsten market.
See More
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- Executive Appointment: Almonty Industries announced the appointment of Jorge Beristain as Chief Financial Officer effective June 1, 2026, aimed at supporting the company's expansion of the Sangdong Mine in South Korea, which is expected to enhance its strategic role in the Western tungsten supply chain.
- Predecessor Departure: Former CFO Brian Fox has departed immediately, with Almonty expressing gratitude for his service, ensuring stability during the transition period as Guillaume de Lamaziere steps in as Interim CFO until the new appointee starts.
- Financial Leadership Experience: Jorge Beristain brings extensive financial management experience, having served as Vice President of Finance at Ryerson Holding Corp, where he played a key role in doubling the company's market capitalization, showcasing his exceptional capabilities in the basic materials and mining sectors.
- Strategic Growth Potential: Almonty's Sangdong Mine is considered a critical component of the global non-China tungsten supply chain, and with rising geopolitical tensions, the demand for tungsten is expected to surge, positioning the company strategically for robust future growth.
See More
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- Rapid Development Progress: The collaboration between Evotec and Almirall has successfully nominated a small molecule preclinical development candidate within just two years, significantly outperforming standard industry timelines and showcasing Evotec's efficiency in drug discovery.
- Integrated Technology Advantage: The project leverages Evotec's AI/ML-driven R&D platforms, encompassing medicinal chemistry, DMPK, and in vitro biology, ensuring a seamless data-driven workflow that accelerates the candidate identification process.
- Market Demand Alignment: This initiative focuses on developing novel therapies for immune-mediated inflammatory skin diseases, addressing the urgent need for innovative treatment options in the market, which holds significant commercial potential.
- Strategic Partnership Value: The collaboration includes potential success-based milestone payments of up to €230 million, reflecting the deep expertise and shared goals of Evotec and Almirall in medical dermatology, indicating promising future success possibilities.
See More
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- National Security Investigation: The US has confirmed that its dependence on imported critical minerals poses a direct threat to its defense and industrial base, indicating that no single Western country can resolve this issue alone, which may lead to increased market demand for related minerals.
- Tungsten Supply Crisis: Due to Chinese export controls, tungsten processing prices have surged from around $300 to $1,775 per metric tonne within a year, depleting Western inventories to critically low levels, thereby impacting the production and profitability of related companies.
- Gold Project Advancement: GoldHaven Resources is conducting a 1,741-kilometre high-resolution magnetic survey over its Magno Project, expected to launch in June 2026, aimed at enhancing exploration efficiency for silver and tungsten, thereby strengthening its market competitiveness.
- Diversified Investment Strategy: GoldHaven is also advancing its Copeçal Gold Project in Brazil, where the first diamond drilling program confirmed gold and copper anomalism, with Phase 2 drilling planned for mid-Q2 2026, showcasing the company's strategic vision in multi-project development.
See More
