On September 14, the government announced a $450 million redeemable preferred equity investment in The Elmet Group through the Industrial Base Analysis and Sustainment program.
Tungsten is a foundational input for the defense industrial base, prized for its hardness, heat resistance, density, and durability, and used in critical components across missiles, munitions, aerospace, propulsion, naval, undersea, electronics, and industrial manufacturing applications.
“This investment reflects the Department’s commitment to rebuilding critical industrial capacity in the United States,” said assistant secretary of War for industrial base policy said Mike Cadenazzi, Assistant Secretary of War for Industrial Base Policy, in a statement.
“Expanding domestic tungsten processing will strengthen supply chain resilience, support high-quality manufacturing jobs, and reinforce the production base behind essential defense systems.”
The Elmet Group is the only U.S.-owned, fully integrated producer of tungsten and molybdenum materials and components, supports more than 100 Department of War programs, including the F-35, Patriot PAC-3, Trident D5, NGI, PrSM, and Virginia- and Columbia-class submarines.
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