Elmet Group wins $2 billion US tungsten stockpile contract
The United States government committed $2.45 billion to Elmet Group on September 15, pairing a $2 billion Defense Logistics Agency contract with a $450 million preferred stock investment from the Department of War. The funding secures domestic and allied tungsten sourcing for the National Defense Stockpile, backed by a guaranteed $150 million minimum for tungsten concentrates and sodium tungstate. Elmet plans to expand its mining, processing, and manufacturing capabilities, including an upgrade to the Springer Tungsten Complex in Nevada, to strengthen critical supply chains ahead of impending federal restrictions.
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- ✓ The U.S. Department of War committed $2.45 billion to Elmet Group on September 15.
- ✓ The package includes a five-year Defense Logistics Agency contract worth up to $2 billion with a guaranteed $150 million minimum for tungsten concentrates and sodium tungstate.
- ✓ The Department of War is investing $450 million in preferred stock to expand Elmet's mining, processing, and manufacturing capacity.
- ✓ A federal rule restricting tungsten mined in China, Russia, Iran, and North Korea takes effect in January 2027.
What changed
Federal backing expanded from a general contract award to a combined $2.45 billion commitment featuring a $450 million preferred stock investment by the Department of War.
Live updates
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Elmet Group Secures $2.45 Billion in Federal Tungsten Funding
The United States government committed $2.45 billion to Elmet Group on September 15, pairing a $2 billion Defense Logistics Agency contract with a $450 million preferred stock investment from the Department of War. The funding secures domestic and allied tungsten sourcing for the National Defense Stockpile, backed by a guaranteed $150 million minimum for tungsten concentrates and sodium tungstate. Elmet plans to expand its mining, processing, and manufacturing capabilities, including an upgrade to the Springer Tungsten Complex in Nevada, to strengthen critical supply chains ahead of impending federal restrictions.
Why it matters
Washington is moving to secure vital refractory metals as geopolitical tensions intensify and reliance on foreign adversaries creates national security vulnerabilities. A strict federal rule taking effect in January 2027 will restrict tungsten sourced from China, Russia, Iran, and North Korea, forcing defense contractors to rely on domestic and allied producers. The global tungsten market is valued at approximately $6.66 billion in 2026 and is projected to reach about $9.62 billion.
What is confirmed
- The U.S. Department of War committed $2.45 billion to Elmet Group on September 15.
- The package includes a five-year Defense Logistics Agency contract worth up to $2 billion with a guaranteed $150 million minimum for tungsten concentrates and sodium tungstate.
- The Department of War is investing $450 million in preferred stock to expand Elmet's mining, processing, and manufacturing capacity.
- A federal rule restricting tungsten mined in China, Russia, Iran, and North Korea takes effect in January 2027.
- The global tungsten market is valued at approximately $6.66 billion in 2026 and is projected to reach about $9.62 billion.
Still unconfirmed
- Elmet projects revenues of $1.5 to $1.7 billion by 2031 with strong gross margins.
- Elmet aims to execute strategic joint ventures, EU manufacturing acquisitions, and global supply agreements.
What to watch next
- Implementation of the January 2027 sourcing restrictions on tungsten from China, Russia, Iran, and North Korea.
- Progress on the Springer Tungsten Complex upgrade in Nevada and other domestic mining developments.
confidence 100%Sources used for this update (8)
- pluang.com — Elmet Group secures $450M US defense investment... | Pluang
- smallcapexclusive.com — ELMT Stock: The $2 Billion Elmet Tungsten Contract
- lifestyle.bombreport.com — Washington Is Writing Billion-Dollar Checks for Tungsten
- www.prnewswire.com — Defense Stockpile Orders Send Explorers Back to Old Tungsten ...
- www.marketscreener.com — Six Holes, 3,050 Feet and a Federal Deadline: Nevada Tungsten Moves Toward the Drill
- energymetalnews.com — Washington Is Writing Billion-Dollar Checks for Tungsten
- www.prnewswire.com — Six Holes, 3,050 Feet and a Federal Deadline: Nevada Tungsten ...
- miningmarketsreport.com — Washington Bets on U.S. Tungsten Ahead of 2027 Sourcing ...
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Elmet Group Secures $2 Billion US Tungsten Stockpile Contract
The US Defense Logistics Agency has awarded Elmet Group a $2 billion contract to rebuild the National Defense Stockpile and strengthen the domestic tungsten supply chain. The agreement includes a guaranteed funded commitment of $150 million and covers tungsten ores, concentrates, and sodium tungstate. Elmet plans to invest more than $165 million in facilities to expand production capacity and modernize infrastructure. Parent company The Elmet Group also experienced a stock surge of over 11 percent following the initial announcement. The arrangement may indicate efforts by the government to reduce reliance on China and Russia for critical minerals.
Why it matters
The federal government has shifted from warning about vulnerabilities to funding domestic production. Elmet Group supplies refractory metals like tungsten and molybdenum for aerospace and defense manufacturing. Analysts note that these multi-billion-dollar commitments are designed to fortify critical mineral sourcing.
What is confirmed
- The US Defense Logistics Agency awarded a $2 billion contract to Elmet Group to rebuild the National Defense Stockpile and strengthen the country's tungsten supply chain.
- The contract includes a guaranteed funded commitment of $150 million and covers tungsten ores, concentrates, and sodium tungstate.
- Elmet plans to invest more than $165 million in facilities to expand production capacity and modernize infrastructure supporting US defense, aerospace, and industrial programs.
Still unconfirmed
- The Department of War committed $2.45 billion to Elmet Group, including a $450 million preferred stock investment to expand Elmet.
- Elmet secured a $45 million Department of War investment alongside the Defense Logistics Agency indefinite-delivery, indefinite-quantity contract.
- An analyst projects revenue of $1.5 billion to $1.7 billion by 231 and gross margins of 18% to 22%.
What to watch next
- Execution of Elmet's planned manufacturing facility expansions and infrastructure modernization.
- Implementation of additional joint ventures and European manufacturing acquisitions by Elmet.
- Potential shifts in US defense policy regarding supply chain reliance on China and Russia.
confidence 90%Sources used for this update (4)
- jumpseataerospacenews.com — Elmet Group Wins $2B US Tungsten Stockpile Contract
- finance.yahoo.com — Washington Is Writing Billion-Dollar Checks for Tungsten
- t.signalplus.com — Elmet’s Pentagon Contracts Support Tungsten Expansion ...
- defencematters.eu — tungsten - Defence Matters
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Elmet Technologies Secures $36M Defense Contract
Elmet Technologies has secured a $36 million Defense Logistics Agency contract to supply molybdenum and tungsten materials for aerospace applications. The agreement covers high-performance alloys and precision wire used to build jet engine components. This award comes out of Lewiston, Maine, and follows a $2 billion DLA tungsten stockpile contract announced on September 14, 2026. Following the announcement, stock for parent company The Elmet Group surged over 11 percent as operations expand for refractory-metal products.
Why it matters
The company acts as a domestic supplier of critical materials to domestic aerospace, defense, and government markets. These successive defense awards align with corporate moves to reduce supply chain reliance on foreign imports and support dependent programs. Production relies on securing raw material inputs through international supply agreements.
What is confirmed
- Elmet Technologies secured a $36 million Defense Logistics Agency contract to supply molybdenum and tungsten materials for aerospace applications.
- The contract covers high-performance alloys and precision wire used in the production of jet engine components.
- The $36 million award is in addition to the $2 billion DLA tungsten stockpile contract announced on September 14, 2026.
- Stock for The Elmet Group surged over 11 percent following the contract announcement.
What to watch next
- Execution and delivery timelines for the $36 million Defense Logistics Agency contract
- Further updates regarding the $2 billion tungsten stockpile project and related international supply agreements
confidence 100%Sources used for this update (6)
- finance.yahoo.com — Elmet Technologies Awarded $36 Million Defense Logistics ...
- theelmetgroup.com — News - The Elmet Group
- my.spacstar.com — Elmet Technologies Wins $36M DLA Contract for Aerospace ...
- swingtradebot.com — Elmet Technologies Awarded $36 Million Defense Logistics
- crweworld.com — Elmet Technologies Awarded $36 Million Defense Logistics ...
- finance.yahoo.com — ELMT Stock Surges Over 11% – Elmet Technologies Lands $36M ...
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Elmet Group wins $2 billion US tungsten stockpile contract
The Elmet Group has secured a $2 billion contract to supply the US with tungsten for its stockpile project. To support this, Elmet has signed a long-term offtake agreement with Tungsten West's Hemerdon mine and agreed to buy a 4.99% stake in Vietnam's Masan High-Tech Materials Corporation. These moves aim to reduce reliance on Chinese imports and protect over 100 dependent programs.
Why it matters
The US Department of War previously invested $450 million in the project to secure critical materials. Elmet's deals with Hemerdon mine and Masan High-Tech Materials Corporation are part of this effort. The company's actions reflect growing concerns about supply chain security and diversification.
What is confirmed
- The Elmet Group provides critical materials, precision-engineered components, and high-energy systems for demanding growth markets.
- Elmet Technologies is a fully integrated, US-owned and operated, global leader in the manufacture of high purity molybdenum and tungsten products.
- Masan High-Tech Materials Corp will sell a 4.99% stake to US-based tungsten products supplier Elmet Group.
- The Elmet Group has secured a $2 billion contract to supply the US with tungsten for its stockpile project.
What to watch next
- Elmet Group's progress in securing additional tungsten sources
- US Department of War's future investments in critical materials
- Tungsten West's production plans for Hemerdon mine
confidence 100%Sources used for this update (9)
- www.marketscreener.com — Masan High-Tech to sell 4.99% stake to US-based tungsten supplier Elmet
- www.elmettechnologies.com — Elmet Technologies | Molybdenum and Tungsten Products
- theelmetgroup.com — The Elmet Group | Securing Critical Component Supply Chains
- www.elmet.com — ELMET - Smart Silicone Solutions
- en.wikipedia.org — Kingdom of Elfed - Wikipedia
- finance.yahoo.com — The Elmet Group Co. (ELMT) - Yahoo Finance
- theelmetgroup.com — About | The Elmet Group
- stockanalysis.com — The Elmet Group Co. (ELMT) Stock Price & Overview
- www.elmettechnologies.com — About - Elmet Technologies
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Elmet Group expands tungsten supply chain via UK agreement and Vietnam stake
The Elmet Group is securing global tungsten sources to support a $2 billion US stockpile project. The company signed a long-term offtake agreement with Tungsten West's Hemerdon mine, representing over $230 million annually at current prices. Additionally, Elmet agreed to buy a 4.99% stake in Vietnam's Masan High-Tech Materials Corporation for approximately $120 million to $124.8 million. These moves follow a $450 million investment from the Department of War to reduce reliance on Chinese imports and protect over 100 dependent programs.
Why it matters
The US Department of War is funding a domestic tungsten push that includes restarting the Springer plant in Nevada. This strategy utilizes ore from Australia and now includes partnerships in the UK and Vietnam. Tungsten is critical for high-tech defense applications.
What is confirmed
- The Elmet Group signed a long-term offtake agreement with Tungsten West's Hemerdon mine.
- The Hemerdon mine agreement represents more than $230 million annually at current APT tungsten prices.
- The Elmet Group agreed to acquire a 4.99% stake in Masan High-Tech Materials Corporation.
- The Department of War committed a $450 million investment to Elmet Group on September 14, 2026.
Still unconfirmed
- The equity sale for the Masan High-Tech Materials stake is expected to close in October.
- The cost of the Masan stake is approximately VND 3.2 trillion.
- The cost of the Masan stake is $124.8 million.
What to watch next
- Completion of the Masan High-Tech Materials stake acquisition in October
- Updates on the restart of the Springer plant in Nevada
confidence 90%Sources used for this update (4)
- finance.yahoo.com — The Elmet Group Secures Long-Term Tungsten Offtake Agreement with Tungsten West’s Hemerdon Mine
- www.businesstimes.com.sg — Vietnam tungsten giant Masan secures US strategic investor as mainboard listing plan advances
- www.marketscreener.com — The Elmet Group Co. agreed to acquire 4.99% stake in Masan High-Tech Materials Corporation from Masan Group Corporation for approximately $120 million.
- www.marketscreener.com — Elmet Acquires $124.8 Million Equity Stake in Masan High-Tech Materials to Secure Tungsten Supplies
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Elmet Group closes initial $200 million financing for tungsten project
The Elmet Group secured a $450 million investment from the Department of War on September 14 to expand domestic tungsten capabilities. The company closed the first $200 million of that financing on the same day. This funding supports a $2 billion effort to build a US tungsten stockpile and decrease dependence on Chinese imports. The project includes restarting the Springer plant in Nevada using ore from Queensland's Mt Carbine mine and upgrading manufacturing sites in Maine, Michigan, and Ohio to protect over 100 dependent programs.
Why it matters
Tungsten is a critical mineral for defense and industrial applications. This domestic supply chain push occurs as the US seeks to secure rare earth materials ahead of diplomatic engagements with China.
What is confirmed
- The Department of War committed a $450 million investment to the Elmet Group on September 14.
- Elmet Group closed initial financing of $200 million on September 14.
What to watch next
- The US-China meeting on September 24
- Progress on the Springer plant restart in Nevada
confidence 100%Sources used for this update (2)
- www.insidermonkey.com — The Elmet Group (ELMT) Announces $450 Million Commitment. Can Tungsten Expansion Deliver Profits?
- finance.yahoo.com — Critical Minerals Wrap: ELMT Lands $450M Govt Investment; CRML, USAR, TMQ Stocks In Focus Ahead Of Trump-Xi Meet
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US Department of War funds Nevada tungsten plant restart
The US Department of War is investing $450 million to restart the Springer tungsten plant in Nevada. This facility will process ore sourced from the Mt Carbine mine in Queensland. The investment is part of a broader $2 billion effort by the Elmet Group to build a domestic tungsten stockpile and reduce reliance on Chinese supplies. The initiative protects over 100 programs dependent on the metal through manufacturing upgrades in Ohio, Michigan, and Maine.
Why it matters
Tungsten is a critical mineral for defense programs. The US government is aggressively funding domestic production to counter China's market influence.
What is confirmed
- The US Department of War is investing $450 million into the Elmet Group.
- The Elmet Group won a $2 billion US government contract to build a tungsten stockpile.
Still unconfirmed
- The Springer tungsten plant in Nevada will restart using ore from the Mt Carbine mine in Queensland.
What to watch next
- Confirmation of production timelines for the Springer plant
- Updates on manufacturing upgrades in Ohio, Michigan, and Maine
confidence 80%Sources used for this update (2)
- www.yieh.com — The Elmet Group secures $450 million investment from US DoW to expand tungsten manufacturing
- hoodline.com — Nevada Tungsten Plant Restarts With $450M Pentagon Cash, Queensland Ore
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Elmet Group secures $2 billion US tungsten stockpile contract
The Elmet Group won a $2 billion contract from the US government to build a tungsten stockpile. As part of the agreement, the US is investing $450 million into the Portland-based company to increase domestic supply. This initiative aims to counter China's influence over the metal. Funds will support manufacturing plant upgrades in Ohio, Michigan, and Maine to protect more than 100 programs dependent on tungsten.
Why it matters
Tungsten is a critical metal for defense and industrial applications. Reducing reliance on foreign imports is a strategic priority for US national security. The investment targets the stabilization of a domestic supply chain.
What is confirmed
- The Elmet Group won a $2 billion US tungsten stockpile contract.
- The US government is investing $450 million in The Elmet Group.
- The Elmet Group is based in Portland.
- The investment aims to increase the US supply of tungsten.
Still unconfirmed
- The Elmet Group secured a total of $2.5 billion in DOD agreements.
- The funds will upgrade manufacturing plants in Maine, Michigan, and Ohio to support over 100 programs.
What to watch next
- Confirmation of the total contract value including the $450 million investment
- Timeline for the manufacturing plant upgrades in Maine, Michigan, and Ohio
confidence 90%Sources used for this update (6)
- Reuters — Elmet Group wins $2 billion US tungsten stockpile contract
- AL.com — Pentagon awards $2 billion metal stockpile contract, commits $450 million to U.S. company
- U.S. Department of War (.gov) — Department of War Announces a $450 Million Investment in The Elmet Group to Secure America
- Mainebiz — Portland-based Elmet to get $450M to boost US supply of tungsten
- Bloomberg.com — US Takes $450 Million Stake in Tungsten Firm to Counter China
- finance.yahoo.com — The Elmet Group nabs $2.5B in DOD agreements
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