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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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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).
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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) |
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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 | |
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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.
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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.
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