The transaction brings Elmet’s total investment to approximately 23.7 million ordinary shares. This purchase stems from a long-term offtake contract and collaboration agreement previously established between the two firms. By deepening this alignment, both companies aim to fortify their influence within the global tungsten market, where demand for reliable sourcing has intensified significantly.

EQ Resources maintains active operations in Australia and Spain, providing a footprint that complements Elmet’s focus on engineered components and high-energy systems. Elmet executives indicated that the firm intends to pursue further opportunistic investments to secure its long-term competitive position in the sector.