US @DeptofWar invests $9m in @CornwallRes to accelerate our Redmoor tungsten project towards final investment decision to mine. Significant development for securing allied tungsten supply chains. londonstockexchange.com/news… #Tungsten #CriticalMinerals @Cornwall #UK

The Elmet Group to Deploy Strategic Capital to Strengthen U.S. and Allied Tungsten Supply Chain $450 Million Department of War Committed Investment Expected to Expand ELMT's Global Tungsten Mining Network and Processing Capabilities The Elmet Group Co. (NASDAQ: ELMT) ("ELMT" or the "Company"), a U.S.-based provider of critical materials, precision-engineered components, and advanced high-energy systems, plans to allocate capital from the $450 million committed investment from the United States Department of War (“DoW”) to establish a more secure, vertically integrated tungsten supply chain while expanding domestic manufacturing and strengthening sources of critical minerals. The anticipated investments are designed to strengthen America’s tungsten supply chain by expanding domestic manufacturing, securing long-term access to critical raw materials, and establishing an integrated network of sourcing, processing, and refining assets across the globe. "We expect the funding from the Department of War to enable The Elmet Group to advance a series of transformative initiatives that will strengthen and secure the U.S. tungsten supply chain," said The Elmet Group CEO and Chairman Peter V. Anania. "Through these initiatives, we are seeking to expand the capacity of our U.S. manufacturing operations while establishing long-term partnerships with Blue Moon Metals and EQ Resources to secure critical feedstock, processing expertise, and downstream manufacturing capabilities. Together, these efforts represent a significant step toward establishing a secure, vertically integrated tungsten supply chain and creating a more resilient allied platform, from mine to finished component, for the defense and industrial markets that depend on this strategic material." Tungsten is a strategically important metal valued for its ability to withstand extreme heat, pressure, and wear, making it essential to national defense and a wide range of advanced industrial applications. Its unique properties make it irreplaceable in certain high-performance components used across aerospace, energy, semiconductor, medical, and industrial markets, underscoring the need for reliable and secure sources of supply. ELMT supplies tungsten to critical U.S. defense programs, including Patriot, Javelin, AEGIS, Trident II, and THAAD, as well as Virginia- and Columbia-class submarines, and is the only U.S.-owned vertically integrated producer of tungsten servicing the full breadth of critical end markets. Expanding American Mineral Manufacturing and Processing ELMT anticipates directing more than $165 million of the DoW Investment toward the modernization and expansion of the Company’s existing critical infrastructure facilities in Lewiston, Maine; Coldwater, Michigan; and Euclid, Ohio. The upgrades will be intended to increase capacity for key defense and industrial applications, expand production of tungsten heavy alloy and powder products, and strengthen ELMT’s domestic manufacturing infrastructure. In addition, ELMT plans to allocate approximately $150 million to the Springer Tungsten Complex in Imlay, Nevada, operated by Blue Moon Metals. As part of the investment, ELMT intends to form and operate a majority-owned joint venture with Blue Moon Metals and EQ Resources to restart and expand ammonium paratungstate (“APT”) conversion capacity at the site, creating a significant new source of tungsten processing capacity in North America. The Springer Mine and mill located at the complex are expected to restart production in the fourth quarter of 2027, while the APT conversion facility owned by the joint venture is expected to begin operations in the second half of 2028. Together, these assets are intended to establish a critical processing hub that connects mine supply with downstream demand and strengthens domestic manufacturing capabilities. Expanding a Resilient Allied Tungsten Supply Network In parallel with its domestic manufacturing investments, up to $150 million is expected to be utilized to help ELMT create and advance a network of key partnerships and investments, including the Mt. Carbine Mine in Australia and the Barruecopardo Mine in Spain, to diversify tungsten supply, reduce concentration risk, and establish secure sources of critical materials. Together, these investments are designed to increase access to tungsten feedstock, strengthen supply chain resiliency, and support the development of a more diversified tungsten ecosystem. By expanding these partnerships, ELMT seeks to build an integrated supply network spanning mining, processing, and advanced manufacturing, further strengthening its ability to support the critical materials, components, and systems required by the United States and its Allies.

"Redmoor could help restore Cornwall to the international mining stage,” reports Daily Mail. Great to see #SML and Redmoor featuring in the Daily Mail’s financial website, This Is Money which has such a wide readership. Read more here: dailymail.com/money/markets/… #Redmoor