Elmet Group Co. Announces Tungsten Offtake Agreement with Tungsten West

What Happened
Elmet Group Co. (ELMT) filed an 8‑K on September 22, 2026, disclosing that it and its wholly owned subsidiary Elmet Technologies LLC entered a Tungsten Concentrate Offtake Agreement with Drakelands Restoration Limited and Tungsten West PLC. The agreement establishes a strategic purchase arrangement for tungsten concentrate beginning in calendar year 2027 and was announced via press release (Exhibit 99.1).

Key Details

• Agreement date: September 22, 2026; term through December 31, 2034 (extendable by mutual agreement).
• Purchase terms: Elmet will target an annual quantity starting in 2027; until Drakelands produces a specified minimum 12‑month volume meeting specs, Elmet is entitled to at least 50% of all spec‑compliant tungsten concentrate produced.
• DLA/exclusivity: For 60 days from the agreement date, Elmet has exclusive rights to supply Tungsten West/Drakelands‑produced concentrate to the U.S. Defense Logistics Agency (per Elmet’s Sept 11, 2026 DLA Agreement). Drakelands material gets priority supply to the DLA until commissioning of the ammonium paratungstate (APT) plant Elmet intends to restart/expand with Blue Moon Metals Inc.
• Additional processing: At Drakelands’ request, Elmet will process up to an additional annual amount of concentrate for the U.K. government or nominees or entities needing tungsten for use in the U.K.

Why It Matters
This agreement secures a multi‑year supply relationship for a critical raw material (tungsten concentrate) for Elmet, supports its obligations under the previously announced DLA contract, and gives the company supply priority until its planned APT plant is back online. For investors, the deal clarifies near‑term supply sources, potential volumes beginning in 2027, and strategic positioning with both U.K. suppliers and a key U.S. government customer.