Elmet Group expands tungsten production via U.S. investment and German acquisition

The Elmet Group is significantly expanding its global tungsten and molybdenum manufacturing footprint through major U.S. government backing and a strategic acquisition in Europe.

In the United States, Elmet has secured a $450 million investment from the U.S. Department of War to bolster domestic mining, processing, and manufacturing capacity. Over $165 million of this funding is earmarked for operations in Maine, Michigan, and Ohio. Additionally, Elmet Technologies received a Defense Logistics Agency contract with a ceiling of up to $2 billion to supply materials for the U.S. National Defense Stockpile. Elmet, Blue Moon Metals, and EQ Resources have also entered binding terms for a $150 million to $175 million investment package to redevelop the Springer Tungsten Complex in Nevada.

Simultaneously, Elmet is expanding into the European Union through its subsidiary, Elmet Technologies GmbH, which has signed an agreement to acquire ams OSRAM’s tungsten and molybdenum manufacturing operations in Schwabmünchen, Germany. This acquisition establishes a European production base for refractory metals, including powders, rods, and machined components, to serve defense, semiconductor, and medical technology industries.