Elmet Group to Invest $125M in Masan High-Tech Materials for Tungsten Supply
ELMT sits 64% above its 52-week low of $12.485.
Summary
Elmet Group is acquiring a 4.99% equity stake in Masan High-Tech Materials for $124.75 million, formalizing a 12-year commercial relationship. The deal includes long-term supply agreements for mined tungsten from the Nui Phao Mine and conversion services from MSR's Vietnam refining complex. This follows Elmet's $450 million U.S. Department of War investment and $2 billion DLA offtake agreement announced September 14, further securing its tungsten supply chain. The investment gives Elmet a board seat and supports MSR's planned uplisting to the Ho Chi Minh Stock Exchange. Completion is expected in Q3 2026, subject to regulatory and corporate approvals.
At the time of this announcement, ELMT was trading at $20.47 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $626.9M. The 52-week trading range was $12.49 to $25.03. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.