U.S. tungsten supplier Elmet Group has announced the acquisition of a 4.99% stake in Vietnamese miner Masan High-Tech Materials for approximately $125 million, according to a joint statement released by both companies on Thursday [1]. The deal is designed to deepen the partnership between the two firms and secure a more resilient supply of tungsten, a critical metal used in electronics and industrial manufacturing [1].
This strategic investment is part of broader efforts to reduce reliance on China, which is currently the world's leading producer of tungsten [1]. Masan High-Tech Materials operates a tungsten processing facility in northern Vietnam, and the investment is expected to enhance supply chain resilience for the metal [1]. The companies emphasized that the partnership will help diversify supply sources amid global concerns over critical mineral security [1].
Elmet Group stated, "This strategic investment allows us to secure a reliable source of tungsten outside of China, supporting both domestic industry and global customers" [1]. Masan High-Tech Materials added that the partnership would enable greater collaboration in technology development and market expansion [1].
No further financial or technical details were disclosed, but the companies indicated that the transaction is expected to close by the end of the year, pending regulatory approval [1].
CONCLUSION
Elmet Group's $125 million investment in Masan High-Tech Materials marks a significant step toward diversifying tungsten supply chains and reducing dependence on China. The deal is expected to strengthen supply chain resilience and foster collaboration in technology and market expansion, with the transaction anticipated to close by year-end pending regulatory approval.