US$175 Million Springer Project Deal Aims to Revive Domestic Tungsten

The Springer facility, once a cornerstone of U.S. tungsten production, is slated to resume mine and mill operations by late 2027. Plans include the construction of an Ammonium Paratungstate (APT) plant, which is expected to begin production in the second half of 2028. The site is already permitted and holds significant historical mineral data, though further drilling is required to confirm current resource estimates under modern industry standards.

Under the agreement, The Elmet Group will lead the financing, contributing US$150 million toward project development and a joint venture entity, with an additional US$25 million held in reserve. The joint venture will govern the APT processing plant, with ownership split between The Elmet Group (70%), Blue Moon (20%), and EQ Resources (10%). This structure integrates domestic mining with processing expertise, effectively creating a closed-loop system designed to reduce reliance on foreign material sources. The Department of War has signaled its support for the project as part of a broader strategy to bolster American industrial resilience.