Elmet Group Signs $230 Million Tungsten Deal With Tungsten West

The Elmet Group Co. signed a long-term offtake agreement with Tungsten West plc to secure annual shipments of over 1,000 metric tonnes of tungsten concentrate from the Hemerdon Mine in Devon, England. Valued at more than $230 million annually at current prices, the agreement ensures a steady supply of critical materials for Elmet's refining network and manufacturing operations in Maine, Michigan, Ohio, and Germany.

This partnership follows significant state backing for both companies. The United States Department of War recently provided a $450 million investment to The Elmet Group, while the UK Government's National Wealth Fund invested £71 million in Tungsten West. The collaboration is designed to establish resilient, allied supply chains for the defense, aerospace, energy, medical, industrial, and semiconductor sectors.

Tungsten West expects the Hemerdon mine to reach full-scale production by the end of the first quarter of 2027. Company leadership stated the deal solidifies their position as a leading Western producer of tungsten and supports the creation of hundreds of jobs in the United Kingdom.