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2 clusters · 7 sources · 4 days · First seen 14 days ago · Last updated 11 days ago

Elmet Group tungsten supply chain expansion

Overview

The Elmet Group is undergoing a major expansion of its tungsten and molybdenum manufacturing capabilities through significant U.S. government support and international acquisitions.

In the United States, the company has secured approximately $450 million in investment from the Department of War to bolster domestic mining and processing in Maine, Michigan, and Ohio. This includes a $2 billion contract from the Defense Logistics Agency to supply materials for the National Defense Stockpile, with a guaranteed $150 million disbursement for ore and concentrates. Furthermore, Elmet, Blue Moon Metals, and EQ Resources have agreed to a $150 million to $175 million investment to redevelop the Springer Tungsten Complex in Nevada.

On the international front, Elmet is expanding its European presence through its subsidiary, Elmet Technologies GmbH, which is acquiring ams OSRAM’s tungsten and molybdenum manufacturing operations in Schwabmünchen, Germany. This move aims to establish a European production base for refractory metals to serve the semiconductor, medical, and defense industries.

Entities

U.S. Department of Defense · Masan High-Tech Materials · ams OSRAM · U.S. Department of War · Elmet Group

Timeline

11 days ago

[BUSINESS] 3 sources
Elmet Group receives $2 billion Pentagon contract for tungsten supply
The U.S. Department of Defense awarded Elmet Group a $2 billion contract to bolster the national tungsten supply chain and rebuild defense stockpiles.
14 days ago

[BUSINESS] 4 sources
Elmet Group expands tungsten production via U.S. investment and German acquisition
The Elmet Group is expanding its tungsten and molybdenum operations via a $450 million U.S. government investment, a $2 billion defense contract, and the acquisition of ams OSRAM’s German manufacturing assets.

Sources

cafebiz.vn · cafef.vn · congnghevadoisong.vn · defence-industry.eu · newsable.asianetnews.com · pulse2.com · sputniknews.cn