Pentagon backs $150M Blue Moon tungsten restart
The US Department of Defense has committed $150 million to restart the Blue Moon tungsten project, aiming to bolster domestic supply chains for critical minerals. This move is part of a broader effort to reduce reliance on foreign sources, particularly China. The Pentagon's investment follows a $450 million commitment to Elmet Group, a Portland-based company, to secure the domestic supply of tungsten. Elmet also secured a $2 billion stockpile contract.
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- ✓ The US Department of War invested $450 million in Portland-based Elmet Group to secure the domestic supply of tungsten.
- ✓ Elmet Group secured a $2 billion stockpile contract with the Defense Logistics Agency.
- ✓ The Pentagon is backing a $150 million restart of the Blue Moon tungsten project.
What changed
The Pentagon's $150 million investment in the Blue Moon tungsten project was confirmed, providing further details on the US government's efforts to bolster domestic tungsten production.
Live updates
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Pentagon backs $150M Blue Moon tungsten restart
The US Department of Defense has committed $150 million to restart the Blue Moon tungsten project, aiming to bolster domestic supply chains for critical minerals. This move is part of a broader effort to reduce reliance on foreign sources, particularly China. The Pentagon's investment follows a $450 million commitment to Elmet Group, a Portland-based company, to secure the domestic supply of tungsten. Elmet also secured a $2 billion stockpile contract.
Why it matters
The US is seeking to strengthen its domestic supply chains for critical minerals, including tungsten, which is essential for various defense applications. The country's current reliance on foreign sources, particularly China, has raised concerns about supply chain security. The investments in Elmet Group and the Blue Moon project are part of a larger strategy to enhance domestic production and reduce dependence on foreign suppliers.
What is confirmed
- The US Department of War invested $450 million in Portland-based Elmet Group to secure the domestic supply of tungsten.
- Elmet Group secured a $2 billion stockpile contract with the Defense Logistics Agency.
- The Pentagon is backing a $150 million restart of the Blue Moon tungsten project.
What to watch next
- The outcome of the $2 billion stockpile contract and its impact on Elmet Group's production.
- Further investments in domestic tungsten production and other critical mineral supply chains.
- The effectiveness of these investments in reducing the US's reliance on foreign sources.
confidence 90%Sources used for this update (15)
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- industrialbase.substack.com — Elmet Group - by Matthew Bernard - Industrial Base Alpha
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Pentagon backs $150M Blue Moon tungsten restart
The United States Department of War invested $450 million in Portland-based Elmet Group to secure the domestic supply of tungsten and counter China. Separate reporting indicates Elmet secured a $2 billion stockpile contract, while the Pentagon also backed a $150 million restart of the Blue Moon tungsten project. These strategic defense measures sent shares of the strategic metal producer soaring by 43 percent. The funding targets critical mineral supply chains heavily reliant on foreign sources.
Why it matters
Tungsten is a vital strategic metal used in various industrial and defense applications, making domestic production a top security priority for the United States. Federal intervention aims to insulate the American industrial base from foreign supply shocks and geopolitical rivalries, particularly with China. Major capital infusions into domestic operators like Elmet signal a broader shift toward state-backed industrial policy for critical minerals.
What is confirmed
- The Department of War announced a $450 million investment in The Elmet Group.
- Portland-based Elmet received funding to boost the United States supply of tungsten to counter China.
- The Pentagon backed a $150 million Blue Moon tungsten restart.
- A producer of strategic metal soared 43 percent on Pentagon deals.
Still unconfirmed
- Elmet Group won a $2 billion US tungsten stockpile contract.
What to watch next
- Execution timelines for the Elmet Group investment and the Blue Moon tungsten restart
- Further Department of War announcements regarding domestic critical mineral stockpiles
- Market performance and production milestones for strategic metal producers
confidence 90%Sources used for this update (6)
- Reuters — Elmet Group wins $2 billion US tungsten stockpile contract
- 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
- Mining.com — Pentagon backs $150M Blue Moon tungsten restart
- Investor's Business Daily — Producer Of Strategic Metal Soars 43% On Pentagon Deals
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