U.S. Bets Big on Domestic Tungsten Supply Chain! Elmet (ELMT.US) Secures $450 Million Investment Commitment from Department of War + $2 Billion Defense Contract, Stock Price Soars

Zhito Finance APP has learned that Elmet Group (ELMT.US), a manufacturer providing critical materials and high-power microwave products for the aerospace and defense sectors, announced on Monday that the company has secured a $450 million investment commitment from the U.S. Department of War to expand tungsten mining, processing, and manufacturing capacity. In addition, the company's wholly-owned subsidiary Elmet Technologies has been awarded a contract worth up to $2 billion by the U.S. Defense Logistics Agency to supply tungsten materials for the U.S. National Defense Stockpile. Boosted by this news, as of press time, Elmet Group surged more than 43% in Monday's U.S. pre-market trading.