Elmet buys 5% stake in Vietnam's Masan, secures 8-year tungsten supply

Elmet: The Elmet Group Co. is a U.S.-based provider of critical materials, precision-engineered components, and advanced high-energy systems with a focus on tungsten products. It has recently expanded its vertically integrated supply chain through partnerships and investments to enhance access to raw materials for defense, aerospace, and industrial applications. The company is acquiring the stake in Masan to formalize and extend its longstanding commercial relationship with the Vietnamese producer for multi-year tungsten supply and processing. Masan: Masan High-Tech Materials Corporation is a Vietnam-based operator of the Nui Phao polymetallic mine and state-of-the-art tungsten refining facilities, serving as a major integrated producer of tungsten materials outside China. It supplies mined tungsten and conversion services while expanding processing capacity and international partnerships. The equity stake sale to Elmet and associated supply agreements strengthen its role in global tungsten value chains and support plans for uplisting. Geopolitics: The transaction advances U.S. efforts to build resilient, allied supply chains for critical minerals such as tungsten. Supply Chain: The partnership formalizes a commercial relationship spanning more than 12 years between the U.S. and Vietnamese tungsten companies. Government Backing: The deal supports objectives linked to recent U.S. government commitments aimed at securing domestic tungsten manufacturing and raw material access.