Finding a true long-term growth stock isn’t simple. While many companies ride short-term trends, only a handful are built to sustain momentum over time. The real winners are usually those operating in industries with rising global demand while quietly strengthening their position behind the scenes.
That’s the reason why resource-focused companies like Almonty Industries (TSX: AII) are starting to look attractive amid the ongoing market uncertainty. With geopolitical shifts and supply chain concerns becoming more important, businesses tied to critical minerals are worth considering. In this article, let me explain why this TSX growth stock could be uniquely positioned to benefit from this trend over the next three years.
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This critical minerals stock is gaining solid momentum
Almonty Industries mainly operates in the tungsten mining space – a niche but increasingly important segment of the global economy. Tungsten is widely used in defence, industrial manufacturing, and advanced technologies, making it a strategic resource for many countries.
The company’s stock currently trades at $28.84 per share with a market cap of $8.2 billion. Over the past year, it has delivered an extraordinary 681% return, reflecting growing investor interest in its long-term potential.
A major milestone recently came from its flagship Sangdong Tungsten Mine in South Korea after the company delivered its first ore to the Run-of-Mine pad, marking its transition from development to active mining. This step brings it closer to full-scale commercial production and positions it as a key supplier outside China.
Growth supported by rising demand
Almonty’s recent financial performance highlights the impact of improving market conditions. In the fourth quarter, Almonty’s revenue rose 39% year-over-year (YoY) to $8.7 million, while its full-year revenue increased 13% YoY to $32.5 million. This growth has been supported by a sharp rise in ammonium paratungstate (APT) prices, which climbed significantly to around US$2,250 per metric tonne unit.
At the same time, the company reported a net loss of $102.3 million for the quarter and $161.9 million for the full year. However, this was largely due to non-cash revaluation losses tied to derivative liabilities, meaning it had a limited impact on actual cash flow.
Building a global footprint
Beyond current operations, Almonty is actively expanding its global presence. It recently acquired the Gentung Tungsten Project in Montana, adding a potential near-term U.S. production asset to its portfolio. This move aligns with its broader strategy of building a supply chain independent of China, which currently dominates global tungsten production. With increasing geopolitical focus on resource security, this positioning could prove highly valuable.
The company has also strengthened its leadership team with key executive appointments to support operations and development. At the same time, relocating its corporate headquarters to Montana brings it closer to U.S. government agencies and industrial partners.
Why this TSX growth stock stands out
Moreover, Almonty Industries is advancing a large-scale drilling program at Panasqueira to extend the mine’s life and support higher production levels. Its Gentung project is also expected to move toward production readiness in the near term.
With tungsten prices hovering near record levels of around US$2,500 per metric tonne unit, the timing of these developments could further strengthen its revenue potential. While the stock’s recent surge may raise questions, its long-term story is tied to structural demand rather than short-term trends. Its combination of expanding production, rising commodity prices, and geopolitical relevance gives it a unique edge.
