Pentagon-Backed Elmet to Buy Stake in Vietnam Tungsten Producer

The Elmet Group Co., a U.S. tungsten manufacturer, will purchase a 4.99% stake in Vietnam's Masan High-Tech Materials Corp. and secure more than eight years of tungsten supply. The deal expands U.S. access to tungsten, a mineral used in electronics, aerospace, and defense applications. Tungsten production is concentrated outside the United States, with China controlling a significant share of global output.

Next story