Elmet Group Secures Long-Term Tungsten Offtake from Tungsten West's Hemerdon Mine
ELMT sits 67% above its 52-week low of $12.485.
Summary
Elmet Group signed a long-term tungsten concentrate offtake agreement with Tungsten West's Hemerdon Mine, securing over 1,000 metric tonnes annually valued at more than $230 million, with a term through December 2034.
Key Events · M&A and Partnerships · ELMT
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Long-Term Tungsten Offtake Agreement Signed
Elmet Group and its subsidiary Elmet Technologies LLC entered into a Tungsten Concentrate Offtake Agreement with Drakelands Restoration Limited and Tungsten West PLC, covering production from the Hemerdon Mine in Devon, England.
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Annual Value Exceeds $230 Million
The agreement is expected to represent more than $230 million annually in offtake at current APT tungsten prices, with volumes exceeding 1,000 metric tonnes per year of tungsten concentrate (WO₃ equivalent).
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Contract Term Through December 2034
The Offtake Agreement remains in effect until December 31, 2034, subject to extension by mutual agreement or earlier termination under its terms.
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Exclusive DLA Supply Rights for 60 Days
For 60 days from the agreement date, Elmet has exclusive rights to supply Drakelands tungsten concentrate to the U.S. Defense Logistics Agency under the DLA Agreement entered September 11, 2026.
Analysis · ELMT · Manufacturing
Securing a long-term supply of tungsten concentrate from one of the world's largest deposits is a strategic move, valued at more than $230 million annually at current APT prices. The agreement locks in over 1,000 metric tonnes per year from Hemerdon beginning in 2027, with a term extending to December 2034. This directly supports the $450 million Department of War investment and the $2 billion DLA offtake agreement announced earlier this month, giving Elmet a secure allied source of critical material for its U.S. and German manufacturing operations. The deal also includes a 60-day exclusive right to supply Drakelands material to the DLA, strengthening Elmet's position as a preferred supplier to the U.S. defense supply chain.
How filings like this one have moved
In the 30 days to Oct 19, 2026, 29.4% of the 1386 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.50%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, ELMT was trading at $20.91 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $634.2M. The 52-week trading range was $12.49 to $25.03. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.