Blue Moon Metals, Elmet Group, EQ Resources form JV to restart Nevada APT tungsten plant with up to US$175 million investment
ELMT•Production timeline
The companies are targeting a mine and mill restart in Q4 2027, with the APT plant restart in 2H 2028.
Assets and supply arrangement
The Springer mine and mill will remain with Blue Moon. Concentrate will feed the APT plant under market-based offtake terms.
Investment structure and ownership
Elmet targets a total US$150 million investment tied to Springer, split between a US$50 million prepayment facility, US$25 million equity and US$75 million JV funding.
JV ownership is set at 70% Elmet, 20% Blue Moon and 10% EQ. Elmet will operate the APT plant.
Binding agreement to form joint venture
Blue Moon Metals signed a binding agreement with Elmet Group and EQ Resources to form a joint venture to own and operate the Springer APT plant.
