This post was originally published on this site.The US Department of War (DoW) has agreed to invest $450 million in The Elmet Group (ELMT), with $150 million earmarked for Blue Moon Metals’ (TSXV: MOON; Nasdaq: BMM) Springer tungsten complex in Nevada, as Washington pushes to rebuild a domestic supply chain for the strategic metal. Under a binding agreement with Elmet and Australia’s EQ Resources (ASX: EQR), Blue Moon would receive a $50-million tungsten concentrate prepayment facility and a $25-million equity investment, while Elmet would put another $75 million into a joint venture to restart Springer’s ammonium paratungstate, (APT) plant. Elmet...

This post was originally published on this site.Milford Mining Company Utah (MMCU) has received a conditional commitment from the U.S. Department of Agriculture Rural Development Business & Industry Loan Guarantee Program for $25 million in financing to support planned investments in the company’s mining and processing operations in Milford.  MMCU operates a fully permitted mining and processing complex in Beaver County producing both copper cathode and copper concentrate. The company said its eponymous mine hosts diverse minerals including tungsten, antimony and other rare earth elements, adding that there are significant untapped exploration potential across its 62,000-acre property.   The Milford mine was idled for years, but reopened under MMCU management in 2023. The company said will invest...