The Elmet Group, based in Portland, Maine, has finalized a long-term offtake agreement with UK-listed Tungsten West to secure over 1,000 metric tonnes annually of tungsten concentrate from the Hemerdon Mine in Devon, England. The deal, valued at more than $230 million annually at current tungsten prices, marks a pivotal expansion for both companies, with Elmet’s refining division set to convert the concentrate into ammonium paratungstate and downstream intermediates for manufacturing operations in Maine, Michigan, Ohio, and a planned facility in Schwabmünchen, Germany (subject to OSRAM asset acquisition completion).
Tungsten West, which initiated processing at Hemerdon following a £71 million investment from the UK Government’s National Wealth Fund, aims to ramp production to full-scale output by the end of the first quarter of 2027. The partnership aligns with Tungsten West’s strategic focus on high-demand markets, including aerospace, defense, energy, medical, industrial, and semiconductor applications. The Hemerdon Mine’s production capacity is expected to grow over time, reflecting both companies’ commitment to scaling supply amid rising global tungsten demand.
Elmet’s involvement in the deal underscores its $450 million investment in its refining and trading division, established in September 2026, supported by a U.S. Department of War funding announcement. The agreement follows years of discussions between Elmet and Tungsten West, with both firms now poised to capitalize on a strategic alignment that strengthens Elmet’s refining network while accelerating Tungsten West’s production ramp-up. Elmet has also postponed its previously scheduled investor update for September 24, deferring details on future scheduling until further notice.
The Hemerdon Mine’s processing operations have already begun, with Tungsten West CEO Jeffery Court highlighting the partnership’s timing as critical to the company’s growth. The deal underscores the strategic importance of tungsten in critical industries, where supply constraints and price volatility remain key concerns for manufacturers and investors alike.
