Blue Moon Metals Secures Funding for Springer Tungsten Complex
Blue Moon Metals has secured an investment of $150m–$175m in the Springer Tungsten Complex, located in Imlay, Nevada. The funding comes from Elmet Group (TEG) and EQ Resources to support both mine operations and a tungsten processing plant. A joint venture will be formed for the ammonium paratungstate (APT) plant with ownership split between TEG (70%), Blue Moon Metals (20%), and EQ (10%). The investment includes a $50m prepayment facility from TEG, to be repaid via concentrate sales. The APT plant is expected to restart in the second half of 2028 after regulatory approvals are secured. Operations at Springer, including open-pit and underground mines as well as processing facilities, aim to resume by Q4 2027. The deal aims to strengthen the U.S. tungsten supply chain with a focus on domestic production capacity.
Topics: Capital Injection Joint Venture Mining Tungsten Supply Chain