Austrian powder metallurgy leader Plansee and tungsten miner Almonty have extended their long-term supply agreement for tungsten concentrate from the Sangdong mine in South Korea. Sangdong is one of the world's largest tungsten mines under construction and a key pillar of the Western effort to build a non-China tungsten supply chain. The agreement reinforces Plansee's vertical integration from mine to tungsten powder and cemented carbide, further strengthening its supply security for refractory metal powders (tungsten and its alloys). Tungsten is an essential feedstock for refractory metal powders used in 3D printing applications such as high-temperature molds, nuclear industry components, and military shielding. The move to lock in upstream resources reflects that competition in the refractory metal powder market is now shifting to the mining stage. Value for powder buyers: (1) China accounts for roughly 80% of global tungsten supply; increased output from Sangdong will divert overseas demand, reshaping the export competitive landscape for tungsten powder in the medium to long term. (2) Domestic tungsten powder producers should track export control policies and price spreads against overseas alternative capacity. (3) The ability to secure raw material supply is becoming a key criterion for international customers when selecting powder suppliers.