U.S. Government Backs $150 Million Investment to Revitalize Nevada Tungsten Mine
The U.S. government is supporting a significant investment of $150 million to restart the Springer Tungsten Complex in Nevada. This initiative involves Blue Moon Metals, The Elmet Group, and EQ Resources, who have entered a binding letter agreement. The investment package, totaling $150-$175 million, aims to reactivate Springer's ammonium paratungstate (APT) plant. The Elmet Group will hold a 70% interest in the processing joint venture and operate the plant, while Blue Moon Metals will retain 20% ownership and full control of the Springer mine and mill. EQ Resources will supply 4,000 tonnes of contained tungsten trioxide (WO3) in concentrate over eight years from the plant's commissioning, with a specific allocation of input capacity during the initial years. This funding is part of a broader $450 million government investment in Elmet, with $150 million specifically designated for the Springer transactions. The project targets a restart of the mine and mill in late 2027, followed by the APT plant in the ...
