U.S. Department of War Injects $450M to Rebuild Domestic Critical Minerals Capacity
How the U.S. Department of War’s $450M commitment and $2B contract are securing North America's critical mineral supply chain to break foreign processing monopolies.

Tungsten is the dense, heat-defying metal that keeps America’s high-tech warheads, armor-piercing munitions, and nuclear submarines from melting under pressure. With China controlling roughly 85% of global production and refining, Washington decided it was time to stop outsourcing its mineral backbone and build a domestic fortress instead.
The U.S. Department of War committed a landmark $450 million investment to The Elmet Group (NASDAQ: ELMT) through its newly established Economic Defense Unit. Designed to break foreign supply bottlenecks, the strategic deal provides an initial $200 million drawdown at closing, granting the government redeemable preferred equity, warrants representing up to 19.9% of common stock, and board representation.
More than $165 million of the influx will directly fund the expansion and modernization of manufacturing facilities operated by The Elmet Group across Lewiston, Maine; Coldwater, Michigan; and Euclid, Ohio. These specialized plants manufacture tungsten heavy alloys and powder components required for front-line defense platforms, including Patriot and Javelin missile systems, Trident II missiles, and Virginia- and Columbia-class submarines.




