Elmet Group's planned Nevada tungsten-processing venture has set ownership, funding and supply terms for restarting the Springer ammonium paratungstate, or APT, plant. EQ Resources will hold 10%, Elmet will own and operate 70%, and Blue Moon Metals will retain 20% while contributing the existing facility, related infrastructure and Springer mine-concentrate offtake rights. Elmet will provide the first $75 million of restart funding, which EQ Resources said is supported by financing from the U.S. Department of War. EQ Resources' initial direct funding is limited: it would cover 12.5% of costs above $75 million and below $100 million, capped at $3.125 million, while costs exceeding $100 million would be shared according to ownership stakes. The first phase is designed to process about 4,000 tonnes of APT annually after refurbishment, upgrades and commissioning. EQ Resources would supply an aggregate 4,000 tonnes of contained WO3 under an eight-year spot-priced offtake agreement and receive access to up to 1,000 tonnes a year of processing capacity for the first five years. Definitive agreements, reviews and approvals remain outstanding, with the parties targeting main agreements within 90 days and a site master plan within six months.