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● LIVE Updated 5h ago · 6 sources tracked

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.

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⚡ Key Developments & Real-Time Context
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  • ✓ 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.
🛡️ Source Corroboration: 6 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

The Department of War announced a $450 million investment in Elmet Group alongside separate funding backing the Blue Moon tungsten restart.

Live updates

  1. 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
    Sources used for this update (6)
    1. Reuters — Elmet Group wins $2 billion US tungsten stockpile contract
    2. U.S. Department of War (.gov) — Department of War Announces a $450 Million Investment in The Elmet Group to Secure America
    3. Mainebiz — Portland-based Elmet to get $450M to boost US supply of tungsten
    4. Bloomberg.com — US Takes $450 Million Stake in Tungsten Firm to Counter China
    5. Mining.com — Pentagon backs $150M Blue Moon tungsten restart
    6. Investor's Business Daily — Producer Of Strategic Metal Soars 43% On Pentagon Deals
    confidence 90%
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