Elmet Group Shares Surge 40% On $150 Mln Springer Tungsten Investment

The U.S. Department of Defense is investing $450M in Elmet Group, with $150M allocated to Blue Moon Metals' Springer tungsten complex in Nevada. Blue Moon will receive $50M in tungsten concentrate prepayment and $25M in equity investment, while Elmet will invest $75M in a joint venture to restart the APT plant. Analysts view the deal positively, with shares of Blue Moon rising 6.5% to C$8.08. The Pentagon aims to secure domestic tungsten supply chains, as China controls about 85% of global suppl

Elmet (ELMT) received a $450M investment from the U.S. Department of War to expand tungsten manufacturing and supply chain. The funds will support domestic and international operations, with $165M allocated to U.S. facilities. Additionally, Elmet secured a $2B contract with the Defense Logistics Agency for tungsten supply, with a $150M initial commitment.

Blue Moon Metals, Elmet, and EQ Resources signed an agreement to develop the Springer Tungsten Complex in Nevada. The project, expected to produce tungsten concentrate by Q4 2027, includes a $150M investment and aims to secure U.S. tungsten supply. The companies plan to form a joint venture and have received support from the U.S. Department of War.

The U.S. Department of War invested $450 million in Elmet, a Nasdaq-listed company, to secure tungsten supply for defense programs. Elmet will use funds for manufacturing and processing operations in the U.S., Australia, and Spain. The investment aims to reduce U.S. reliance on China-dominated markets and strengthen domestic supply chains. Elmet is the only U.S.-owned producer of tungsten and molybdenum materials, serving defense, aerospace, and other industries.

The U.S. Department of War invested $450 million in The Elmet Group (ELMT) to expand tungsten manufacturing. The government will receive preferred equity, warrants, and board representation. Elmet plans to invest $165 million in U.S. facilities and $150 million in Nevada's Springer Tungsten Complex. The company also secured a $2 billion contract for tungsten supply, with Cantor Fitzgerald and Goldman Sachs advising.

Elmet Group's unit won a $2 billion contract from the U.S. Defense Logistics Agency to supply tungsten, with a $150 million funded commitment. The company will expand mining and processing to meet demand without disrupting existing U.S. manufacturers. Separately, Elmet secured $450 million from the U.S. Department of War for domestic manufacturing expansion, including $200 million initially.