:

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…

HII Executive Outlines Its Shipbuilding Acceleration Strategy

An HII [HII] shipbuilding executive last week told lawmakers how the company plans to improve and accelerate shipbuilding throughout via workforce improvements, adding new shipbuilding infrastructure and reinforcing distributed shipbuilding […]

Congress

House Sends Dec. 11 CR With Ship Construction Funds To Trump’s Desk For Final Signature

The House on Tuesday passed a stopgap funding bill to keep the government open through Dec. 11, sending the temporary funding measure that also includes funds to support ongoing shipbuilding […]

Missile Defense

Guetlein On Golden Dome: ‘We Cannot Protect This Nation And Bankrupt It At The Same Time’

While there has been criticism among missile defense advocates of Golden Dome’s development pace after the signing of an executive order in January last year, Space Force Gen. Michael Guetlein, […]

Missile Defense

Interview with Rep. Jeff Crank (R-Colo.), co-chair of the Golden Dome Caucus

Rep. Jeff Crank (R-Colo.), a co-chair of the Golden Dome Caucus in Congress and a member of the House Armed Services Committee’s strategic forces panel, discusses the transformative defense investments […]