How long does ELMT’s tungsten Offtake Agreement related to Hemerdon run?

The Tungsten Concentrate Offtake Agreement is stated to remain in effect until December 31, 2034, with the possibility of extension by mutual agreement or earlier termination in accordance with its terms.

What UK government support related to Hemerdon was mentioned alongside ELMT’s offtake?

The release notes a £71 million strategic investment from the UK Government’s National Wealth Fund in Tungsten West, supporting the restart and ramp-up of the Hemerdon tungsten and tin mine in South Devon, England.

Elmet signs $230M-a-year tungsten supply deal

Q: How large is the Hemerdon offtake for ELMT in dollar terms?

The Hemerdon offtake is described as representing more than $230 million annually in offtake at current APT tungsten prices, highlighting the economic scale of the supply relationship for The Elmet Group Co. (ELMT).

Q: What volumes of tungsten concentrate will ELMT receive under the Hemerdon agreement?

Under the agreement, ELMT expects to take more than 1,000 metric tonnes per year of tungsten concentrate (WO₃ equivalent) from the Hemerdon Mine, with both parties aiming to increase production volumes over time as operations ramp up.

Elmet Group’s long-term Hemerdon tungsten offtake, exceeding $230 million annually, anchors a U.S.-UK critical materials supply partnership through at least 2034.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

The Elmet Group Co. (ELMT) announced a long-term tungsten concentrate Offtake Agreement tied to production from Tungsten West’s Hemerdon Mine in England, aiming to secure critical material supply for U.S., UK, and allied customers. The arrangement is described as representing more than $230 million annually in offtake at current ammonium paratungstate (APT) tungsten prices.

Under the agreement, ELMT expects to take more than 1,000 metric tonnes per year of tungsten concentrate (WO₃ equivalent), with both parties aiming to increase volumes over time. The contract runs through December 31, 2034, and ELMT will convert material via its refining network into APT and downstream intermediates for delivery into its manufacturing operations in the U.S. and, subject to a pending asset purchase closing, Germany.

The offtake will be managed through Elmet Refining & Trading, a division set up in connection with the $450 million committed investment from the U.S. Department of War. The press release also notes a £71 million strategic investment by the UK Government’s National Wealth Fund in Tungsten West and states that Hemerdon is targeting full-scale production by the end of the first quarter of 2027.

Positive

Elmet secured a long-term tungsten offtake tied to Hemerdon Mine, representing more than $230 million annually at current APT prices, which provides substantial contracted demand exposure for its critical materials business.
The agreement targets more than 1,000 metric tonnes per year of tungsten concentrate with a term through December 31, 2034, supporting long-duration supply visibility aligned with U.S. and UK government-backed critical mineral initiatives.

Negative

None.

Filing Explained

The signed agreement creates future supply commitments, while its disclosed dollar figure is an estimate rather than stated cash consideration.

The company has signed the Tungsten Concentrate Offtake Agreement, so the arrangement is executed but its planned purchases begin in calendar year 2027. It creates a long-term supply commitment through December 31, 2034, rather than a completed delivery or revenue event.

As an 8-K material-event disclosure, the filing reports that ELMT will purchase an annual target quantity from Drakelands. Until Drakelands meets a specified 12-month production and product-quality threshold, ELMT is entitled to at least 50% of qualifying output.

The release describes more than $230 million of annual offtake at current APT prices, but the agreement's operative terms describe a quantity-based purchase and processing arrangement, not a fixed annual dollar commitment. ELMT also has 60 days of exclusive rights to supply Drakelands material to the DLA, with priority continuing until commissioning of the planned APT plant.

The key resolution points are whether Hemerdon reaches the specified production and product standards, whether the APT plant is commissioned, and whether the postponed September 24, 2026 Investor Business Update is rescheduled.

8-K Event Classification

3 items: 7.01, 8.01, 9.01

3 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Annual offtake value: More than $230 million annually Offtake volume: More than 1,000 metric tonnes per year Offtake agreement term end date: December 31, 2034 +4 more

7 metrics

Annual offtake value More than $230 million annually Estimated value of Hemerdon tungsten concentrate offtake at current APT prices

Offtake volume More than 1,000 metric tonnes per year Expected annual tungsten concentrate (WO₃ equivalent) from Hemerdon to ELMT

Offtake agreement term end date December 31, 2034 Stated end of the Tungsten Concentrate Offtake Agreement, subject to extension or earlier termination

Department of War committed investment $450 million U.S. Department of War investment referenced as announced September 14, 2026

UK Government National Wealth Fund investment £71 million Strategic investment in Tungsten West supporting Hemerdon restart

Hemerdon full-scale production target End of Q1 2027 Targeted timing for ramp-up to full-scale production at Hemerdon Mine

Exclusivity period for certain supply rights 60 days Period from the Offtake Agreement date during which ELMT has exclusive rights to supply certain Drakelands tungsten concentrate to the U.S. Defense Logistics Agency

Key Terms

Offtake Agreement, ammonium paratungstate, critical materials, National Wealth Fund, +2 more

6 terms

Offtake Agreement financial

"entered into a Tungsten Concentrate Offtake Agreement (the “Offtake Agreement”)"

A contract in which a buyer commits to purchase a set portion or percentage of a producer’s future output—such as minerals, energy, agricultural goods, or manufactured products—often over a multi‑year period. It matters to investors because it creates predictable sales and cash flow, reduces the risk of unsold inventory, and can make projects easier to finance; think of it like pre‑selling future harvests or securing long‑term customers before production begins.

ammonium paratungstate technical

"Material will be converted into ammonium paratungstate (“APT”) and downstream"

Ammonium paratungstate (APT) is a dense, white powder that serves as the concentrated chemical feedstock used to produce tungsten metal and tungsten-based products. Think of it as a syrup concentrate that manufacturers refine into final goods like heavy-duty metal parts, lightbulb filaments, and specialty coatings. Investors watch APT because its production volumes, quality and price act as an early signal of tungsten supply, manufacturing costs and margin pressure across mining, industrial and defense-related companies.

critical materials technical

"a U.S.-based provider of critical materials, precision-engineered components"

Materials that are essential for making modern products—such as certain metals, minerals and chemical components used in batteries, electronics, energy and defense—whose supply is limited, concentrated or vulnerable to disruption. They matter to investors because shortages, price swings or policy changes around these inputs can raise costs, delay production and reshape profit outlooks for companies the way a grocery shortage affects a restaurant’s ability to operate.

National Wealth Fund financial

"Following the £71 million strategic investment from the UK Government’s National Wealth Fund"

forward-looking statements regulatory

"The information in this press release includes forward-looking statements"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Registration Statement on Form S-1 regulatory

"risk factors and other cautionary statements in Elmet’s Registration Statement on Form S-1"

A registration statement on Form S-1 is a detailed filing a company submits to the U.S. securities regulator to register new shares for public sale; it includes a plain-language prospectus, financial statements, business description and risk factors. For investors it matters because it provides the official, comprehensive blueprint of the offering — like an owner’s manual — allowing buyers to assess risks, inspect financial health and compare valuation before deciding to invest.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did ELMT disclose about its new tungsten offtake agreement in this 8-K?

ELMT disclosed a long-term tungsten concentrate Offtake Agreement with Tungsten West’s Hemerdon Mine, under which it expects to take more than 1,000 metric tonnes per year of concentrate, representing more than $230 million annually in offtake at current APT tungsten prices.

How large is the Hemerdon offtake for ELMT in dollar terms?

The Hemerdon offtake is described as representing more than $230 million annually in offtake at current APT tungsten prices, highlighting the economic scale of the supply relationship for The Elmet Group Co. (ELMT).

What volumes of tungsten concentrate will ELMT receive under the Hemerdon agreement?

Under the agreement, ELMT expects to take more than 1,000 metric tonnes per year of tungsten concentrate (WO₃ equivalent) from the Hemerdon Mine, with both parties aiming to increase production volumes over time as operations ramp up.

How does the Hemerdon deal connect to ELMT’s Department of War investment?

The offtake will be managed through Elmet Refining & Trading, a division established in connection with the U.S. Department of War’s $450 million committed investment in ELMT, aligning government-backed funding with long-term tungsten supply arrangements.

What production timeline did Tungsten West disclose for the Hemerdon Mine relevant to ELMT?

Tungsten West indicated that Hemerdon is targeting ramp-up to full-scale production by the end of the first quarter of 2027, which underpins ELMT’s expectations for future tungsten concentrate deliveries from the mine.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/22/2026 - 05:01 PM Accepted by SEC EDGAR 09/22/2026 - 05:00 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): September 22, 2026

The Elmet Group Co.

(Exact name of registrant as specified in its charter)

Delaware		001-43245		33-1881598
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

280 Fore Street, Suite 301

Portland, Maine 04101

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (207) 518-6791

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001 per share		ELMT		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01. Regulation FD Information.

Press Release

On September 22, 2026, The Elmet Group Co. (the “Company,” “we,” “us” or “our”) issued a press release announcing the Offtake Agreement (defined below). A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

The information furnished in Item 7.01 of this Current Report on Form 8-K under the heading “Press Release” as well as Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, unless the Company specifically states that the information is to be considered “filed” under the Exchange Act or specifically incorporates it by reference into a filing under the Securities Act or the Exchange Act.

Item 8.01. Other Events.

Tungsten West Offtake Agreement

On September 22, 2026, the Company and its wholly owned subsidiary, Elmet Technologies LLC, entered into a Tungsten Concentrate Offtake Agreement (the “Offtake Agreement”) with Drakelands Restoration Limited, a private limited company incorporated in England and Wales (“Drakelands”), and Tungsten West PLC, a public limited company incorporated in England and Wales, relating to a strategic offtake arrangement of tungsten concentrate. Under the Offtake Agreement, the Company will purchase an annual target quantity of tungsten concentrate from Drakelands, beginning in the calendar year 2027. Until Drakelands has produced a minimum target of tungsten concentrate over a twelve-month period that meets certain product specifications, the Company is entitled to receive not less than 50% of all tungsten concentrate produced by Drakelands that meets the product specifications. Additionally, at Drakelands’ request, the Company shall process up to an additional amount of tungsten concentrate per annum for the United Kingdom Government or its nominee, or for entities requiring tungsten for use in the United Kingdom.

As part of the Offtake Agreement, for a period of sixty (60) days from the date of the Offtake Agreement, the Company shall have the exclusive rights to (i) supply tungsten concentrate produced from Drakelands material to The United States Defense Logistics Agency (the “DLA”) pursuant to the exclusive offtake agreement entered into by the Company with the DLA on September 11, 2026 (the “DLA Agreement”). Furthermore, Drakelands tungsten concentrate product shall be given priority for supply by the Company to the DLA until the commissioning of the previously disclosed ammonium paratungstate plant that the Company intends to restart, expand and operate along with Blue Moon Metals Inc (the “APT Plant”).

The Offtake Agreement shall remain in effect until December 31, 2034, subject to extension by mutual agreement of the parties or unless otherwise terminated earlier by written notice in accordance with its terms.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are being furnished or filed, as applicable, herewith:

Exhibit No.		Description
99.1		Press Release, dated September 22, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: September 22, 2026	The Elmet Group Co.

	By:	/s/ Peter V. Anania
	Name:	Peter V. Anania
	Title:	Chief Executive Officer and Chairman

Exhibit 99.1

The Elmet Group Secures Long-Term Tungsten Offtake Agreement

with Tungsten West’s Hemerdon Mine

Agreement expected to expand and strengthen tungsten supply chains across the U.S., UK,

and allied nations with one of the world’s largest tungsten deposits

Further advances the objectives of the United States Department of War’s $450 million

committed investment announced September 14, 2026

Represents more than $230 million annually in offtake at current APT tungsten prices

PORTLAND, Maine — September 22, 2026 — 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, today announced that it has signed a long-term tungsten concentrate offtake agreement with Tungsten West plc (AIM: TUN) (“Tungsten West”) covering production from the Hemerdon Mine in Devon, England (“Hemerdon”), one of the largest tungsten deposits in the world.

Under the terms of the agreement, ELMT expects to take more than 1,000 metric tonnes per year of tungsten concentrate (WO₃ equivalent) from Hemerdon, with both parties aiming to increase production volumes over time. Material will be converted into ammonium paratungstate (“APT”) and downstream tungsten intermediates through ELMT’s allied refining network, followed by delivery into ELMT’s U.S. manufacturing operations in Maine, Michigan, Ohio, and ELMT’s Schwabmünchen, Germany plant, pending the closing of the previously announced asset purchase agreement with OSRAM GmbH, if supplies exist. Ultimately, this U.S.-UK partnership is expected to support customers across aerospace, defense, energy, medical, industrial, and semiconductor markets.

The UK government’s strategic investment in Tungsten West, announced on August 25, 2026, complements the U.S. Department of War’s (“DoW”) landmark investment in ELMT announced on September 14, 2026, underscoring the importance both governments place on building resilient, allied supply chains for critical materials. The offtake will be managed through Elmet Refining & Trading (“ERT”), the Company’s new division established in connection with the DoW investment to secure long-term access to critical materials and coordinate sourcing, conversion, and delivery across ELMT’s supply relationships.

“Our agreement with Tungsten West further builds upon the landmark investment we received from the Department of War and advances our strategy to build a resilient critical materials supply chain,” said The Elmet Group CEO and Chairman Peter V. Anania. “The Elmet Group and Tungsten West are firmly aligned in our commitment to securing domestic and allied production, supply, and consistency for customers across the full breadth of critical materials end markets.”

“This partnership arrives at a pivotal moment in Tungsten West’s history, with processing operations underway and continuing to ramp at Hemerdon,” said Tungsten West CEO Jeffery Court. “In addition to supporting the creation of hundreds of jobs in the UK, we believe our offtake agreement with ELMT solidifies our position as a leading Western producer of tungsten and enables us to contribute to the creation of a resilient tungsten supply chain for the U.S., UK and our other allies.”

Following the £71 million strategic investment from the UK Government’s National Wealth Fund, Tungsten West has initiated processing efforts at Hemerdon. The mine is targeting ramp-up to full-scale production by the end of the first quarter of 2027.

ELMT and Tungsten West have been engaged in discussions for more than a year to identify the best approach for combining production from Hemerdon with the conversion relationships, customer base, and North American platform at ELMT. The two companies are closely aligned on the strategic objective of maximizing the volume of allied-sourced tungsten available to U.S. and UK industries and are committed to maintaining a long-term collaborative effort as Hemerdon ramps up production later this year. The partnership is designed to serve customers on both sides of the Atlantic, supporting a range of strategically important U.S. and UK industries with a secure, allied source of tungsten.

This announcement follows the landmark investment ELMT received from the DoW, announced on September 14, 2026, allowing the Company to further enhance its standing as a leading provider of strategically important raw materials.

“This announcement builds on our partnership with the United States, working together in areas like mining and processing, helping crucial sectors like defense and clean energy in both countries get the minerals they need,” said UK Minister for Reindustrialization Blair McDougall. “This is our Critical Minerals Strategy in action – forging ambitious international partnerships that strengthen our economic security and help build more resilient, sustainable critical minerals supply chains.”

Investor Business Update

As a result of these recent developments, ELMT management will temporarily postpone its standalone Investor Business Update, previously announced for September 24, 2026. The Company will continue to disclose additional updates, as appropriate, and intends to provide further scheduling information in the near future.

About Tungsten West

Tungsten West plc is a UK mining company focused on restarting production at the Hemerdon tungsten and tin mine in South Devon, England. Hemerdon is one of the largest tungsten resources in the world and benefits from substantial existing infrastructure, including a partially developed open pit, processing plant, and integrated mine waste facility.

About The Elmet Group

The Elmet Group is a U.S.-based provider of critical materials, precision-engineered components, and advanced high-energy systems for the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries. The Company operates through three divisions: Critical Materials Components (CMC), Engineered Microwave Products (EMP), and Elmet Refining & Trading (ERT), leveraging materials science and precision engineering expertise to deliver high-performance solutions. The Elmet Group is dedicated to strengthening domestic manufacturing capabilities to support the U.S. and its Allies’ needs in both critical materials and advanced high-power microwave systems.

Media Contact
media@theelmetgroup.com

Investor Contact
Tom Colton and Greg Bradbury
Gateway Group, Inc.
ELMT@gateway-grp.com
949-574-3860

Forward-looking statements disclaimer

The information in this press release includes forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. These statements generally relate to future events or our future financial or operating performance and include statements regarding (i) the number of metric tonnes of tungsten concentrate ELMT expects to take from Hemerdon and Hemerdon’s ability to produce such amount; (ii) the conversion of the tungsten concentrate; (iii) the ability of the partnership to support customers across aerospace, defense, energy, medical, industrial, and semiconductor markets; (iv) the commitment and ability of ELMT and Tungsten West to secure domestic and allied production, supply, and consistency for customers across the full breadth of critical end markets; (v) the expected timing of the ramp-up to production for the Hemerdon mine; (vi) the creation of jobs in the United Kingdom; and (vii) ELMT’s future performance, expected outcomes and strategic initiatives.

When used in this press release, words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Elmet’s Registration Statement on Form S-1, as amended (File No. 333-294725) and subsequent filings Elmet makes with the Securities and Exchange Commission. Elmet undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Press Releases

EX-99.1 PRESS RELEASE, DATED SEPTEMBER 22, 2026 17.8 KB