Elmet Group to Invest $450 Million in Tungsten Supply Chain

PORTLAND, Maine, Sept. 14, 2026 /CourierPR/ -- The Elmet Group, a U.S.-based provider of critical materials and advanced high-energy systems, has announced plans to deploy $450 million in strategic capital to strengthen the U.S. and allied tungsten supply chain. The company aims to expand domestic manufacturing, secure long-term access to critical raw materials, and establish an integrated network of sourcing, processing, and refining assets.

According to Peter V. Anania, CEO and Chairman of The Elmet Group, the funding from the United States Department of War will enable the company to advance a series of transformative initiatives. These initiatives include expanding the capacity of U.S. manufacturing operations, establishing long-term partnerships with Blue Moon Metals and EQ Resources, and restarting and expanding the Springer Tungsten Complex in Nevada.

Anania stated, "Through these initiatives, we are seeking to expand the capacity of our U.S. manufacturing operations while establishing long-term partnerships with Blue Moon Metals and EQ Resources to secure critical feedstock, processing expertise, and downstream manufacturing capabilities. Together, these efforts represent a significant step toward establishing a secure, vertically integrated tungsten supply chain and creating a more resilient allied platform."

Tungsten, valued for its ability to withstand extreme heat, pressure, and wear, is essential to national defense and a wide range of advanced industrial applications. The company supplies tungsten to critical U.S. defense programs, including Patriot, Javelin, AEGIS, Trident II, and THAAD, as well as Virginia- and Columbia-class submarines. The Elmet Group is the only U.S.-owned vertically integrated producer of tungsten servicing the full breadth of critical end markets.

The company plans to direct more than $165 million of the DoW investment toward the modernization and expansion of its existing critical infrastructure facilities in Lewiston, Maine; Coldwater, Michigan; and Euclid, Ohio. These upgrades are intended to increase capacity for key defense and industrial applications, expand production of tungsten heavy alloy and powder products, and strengthen the company's domestic manufacturing infrastructure.

Additionally, The Elmet Group intends to allocate approximately $150 million to the Springer Tungsten Complex in Imlay, Nevada, operated by Blue Moon Metals. As part of the investment, the company will form and operate a majority-owned joint venture with Blue Moon Metals and EQ Resources to restart and expand ammonium paratungstate (APT) conversion capacity at the site. The Springer Mine and mill located at the complex are expected to restart production in the fourth quarter of 2027, while the APT conversion facility owned by the joint venture is expected to begin operations in the second half of 2028.

To support the rebuilding of the U.S. National Defense Stockpile, The Elmet Group has secured an indefinite delivery/indefinite quantity contract with the Defense Logistics Agency. The contract has a ceiling value of up to $2 billion, including a guaranteed minimum commitment of $150 million, and covers the supply of tungsten ores and concentrates and sodium tungstate to DLA Strategic Materials. The company does not intend to begin deliveries into the stockpile until sufficient incremental supply is available through the mining investments, offtake agreements, and processing capacity expansions described above.

In parallel with its domestic manufacturing investments, up to $150 million is expected to be utilized to help The Elmet Group create and advance a network of key partnerships and investments, including the Mt. Carbine Mine in Australia and the Barruecopardo Mine in Spain. These investments are designed to increase access to tungsten feedstock, strengthen supply chain resiliency, and support the development of a more diversified tungsten ecosystem.

To oversee these efforts, The Elmet Group is launching Elmet Refining & Trading (ERT), a new division responsible for coordinating sourcing, processing, and material delivery across the company's expanding global network. ERT will oversee upstream mining operations and downstream processing and manufacturing assets to enhance supply chain visibility, coordination, and resiliency.

By integrating these capabilities under a single platform, The Elmet Group anticipates gaining greater control over feedstock sourcing, processing capacity, and material flows, enhancing its ability to support customers with reliable, long-term access to critical materials while strengthening its competitive position in strategic end markets.