Elmet Group Secures $450 Million US Government Investment to Expand Tungsten Supply Chain

Corporate ActionCommodityGeopolitics Impact 4
โดย Yahoo Finance·US·Read original
Summary · why it matters

The Elmet Group Co. said on September 14, 2026, that the US Department of War has committed to invest $450 million in the company to expand domestic tungsten manufacturing and international mining capacity. The investment will begin with an initial $200 million drawdown at closing, followed by additional drawdowns, and in return the department will receive redeemable preferred equity and warrants representing up to 19.9% of Elmet's common stock, plus the right to appoint one independent director and one non-voting observer to Elmet's board. More than $165 million of the investment is allocated to Elmet's existing US facilities in Lewiston, Maine; Coldwater, Michigan; and Euclid, Ohio, while approximately $150 million is expected to fund development of the Blue Moon Springer Tungsten Complex in Imlay, Nevada, a project being developed through a majority-owned joint venture involving Elmet, Blue Moon Metals and Australia's EQ Resources. The company also plans to establish a new division called Elmet Refining & Trading to coordinate sourcing, processing and delivery of materials across its supply network in the US, Australia and Spain. Separately, Elmet subsidiary Elmet Technologies has received an indefinite delivery/indefinite quantity contract from the Defense Logistics Agency to supply tungsten ores, concentrates and sodium tungstate to the US National Defense Stockpile, with a ceiling value of up to $2 billion and a guaranteed funded commitment of $150 million, running through August 2031 with an option to extend through August 2033.

Impact on stocks 2

Defense & Geopolitical Fragmentation▲ · 1 stocks
The Elmet Group Co. Common Stock
ELMT
▲ PositiveCapitalDemandrelevance

US Department of War commits $450M investment in Elmet via redeemable preferred equity and warrants for up to 19.9% of common stock.

Materials▲ · 1 stocks

Theme Impact 3

Off-coverage companies 2

Elmet TechnologiesPrivate▲ Positive
Demandrelevance

Elmet Technologies received the DLA IDIQ contract to supply tungsten ores, concentrates and sodium tungstate to the US National Defense Stockpile, ceiling up to $2B.

EQ Resources LimitedPrivate▲ Positive
Capitalrelevance

EQ Resources is part of the majority-owned JV developing the Blue Moon Springer Tungsten Complex, which is slated to receive ~$150M of the investment.

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