:

Business/Financial

DoD Makes $450 Million Equity Investment In Domestic Tungsten Supplier The Elmet Group

By Cal Biesecker

Monday, September 14th, 2026

SHARE:

DoD Makes $450 Million Equity Investment In Domestic Tungsten Supplier The Elmet Group

Photo: The Elmet Group

The Defense Department on Monday said it has taken a $450 million equity stake in The Elmet Group [ELMT] that the Maine-based company will use to support a more vertically integrated supply chain for tungsten and expand manufacturing. The Industrial Base Analysis and Sustainment program investment was redeemable preferred equity. Tungsten is heat-resistant, hard metal used in missiles, munitions, aerospace propulsion, naval, electronics and industrial manufacturing applications. The Elmet Group support more than 100 DoD programs such as the F-35…

Congress

Key Defense Committee Members Face Tight Midterm Races, Including HASC GOP’ers In Virginia

As the mid-term elections near with polls showing an increasing likelihood of a switch in majority control in the House and potentially the Senate, three Virginia Republicans on the House […]

‘Theoretical Potential’ to Achieve 1,509 Combat-Coded Fighters by 2035, USAF Says

In the latest U.S. Air Force fighter force structure report submitted to Congress, the service speaks of a “theoretical potential” to achieve a goal of 1,509 combat-coded fighters in the […]

Budget

Hegseth Pushes For Reconciliation With At Least $350 Billion For Defense ‘Regardless’ Of Midterms Outcome

Defense Secretary Pete Hegseth said Wednesday the Trump administration plans to continue its push for at least $350 billion in defense funds via the reconciliation process “regardless of what happens […]

Congress

Bipartisan Push in Senate to Hasten Export of 155 mm, GMLRS, HIMARS for Ukraine

A small, bipartisan group of senators is backing the Fast Tracking European Investment in Ukraine’s Defense Act, S. 5175, to hasten the export of allied buys of U.S. munitions for […]