The Elmet Group (ELMT) announced a long-term Tungsten Concentrate Offtake Agreement with Tungsten West PLC for production from the Hemerdon Mine in England, one of the world's largest tungsten deposits. This strategic partnership is designed to strengthen the critical materials supply chain for the United States, the United Kingdom, and allied nations.
Key Details
- Agreement Partner: The agreement was made with Tungsten West PLC and its subsidiary, Drakelands Restoration Limited, on September 22, 2026.
- Financial Value: The offtake represents more than $230 million in annual value based on current ammonium paratungstate (APT) tungsten prices.
- Supply Volume: ELMT will purchase an annual target quantity of over 1,000 metric tonnes of tungsten concentrate, with purchases beginning in the 2027 calendar year.
- Agreement Term: The agreement remains in effect until December 31, 2034, with options for extension or earlier termination per its terms.
- Strategic Importance: The deal gives ELMT exclusive rights for 60 days to supply this tungsten to the U.S. Defense Logistics Agency (DLA) and supports recent strategic government investments from both the U.S. and the UK.