Ann: Strategic Collaboration agreed with Elmet Technologies, page-12

From EQR Linkedin

EQR AND ELMET TECHNOLOGIES AGREE TO Ahashtag#STRATEGICCOLLABORATIONAND LONG-TERM OFFTAKE CONTRACT

https://lnkd.in/dda2akBb

EQ Resources Limitedis pleased to announce that it has agreed to a strategic collaboration involving a multi-year offtake agreement with leading US-owned and fully integrated tungsten manufacturer,Elmet TechnologiesLLC.

Highlights:
Elmet Technologies investing A$2.0 million in the form of an offtake advance payment, and parties continue discussions for Elmet Technologies to join EQR’s register to further bolster the collaboration.
The parties have recorded intentions to:
- enhance thehashtag#globaltungstensupplychainthrough combined offering of tungsten from Western raw material and manufacturing sources
- jointly work on U.S Government programs and funding opportunities to enhance future development ofhashtag#criticalmaterialssupply and further downstream integration of EQR’s tungsten concentrate

Elmet Technologies’ CEO,Peter Anania, emphasized that the strategic partnership with EQ Resources enhances supply chain resilience for their tungsten customers inhashtag#defense,hashtag#aerospace,hashtag#medical, andhashtag#semiconductorindustries. He noted that this aligns with their strong commitment to supporting the U.S. defense industrial base. Over the past five years, Elmet and theUnited States Department of Defensehave collaborated on programs like the DoD’s Industrial Base and Sustainment (IBAS) office and the ARMY’s MANTECH initiatives to strengthenhashtag#tungstensupplychainresilience. With the growing importance ofhashtag#criticalmaterialsfor defense, securing long-term access to high-quality tungsten concentrate became crucial. Thishashtag#partnershipwith EQ Resources, the fastest-growing Western tungsten mining group with active mines inhashtag#Australiaandhashtag#Spain, will ensure Elmet can meet the increasing demand for their materials, especially in the U.S. and Western countries.

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