Washington Is Writing Billion-Dollar Checks for Tungsten

PHOENIX, Oct. 8, 2026 /PRNewswire/ -- U.S. Metal News News Commentary - The U.S. government has moved from warning about tungsten to paying for it. On September 15, the Department of War committed $2.45 billion to Elmet Group, a privately held U.S. tungsten producer, through a $2 billion, five-year Defense Logistics Agency contract to supply the National Defense Stockpile, with a guaranteed $150 million minimum for tungsten concentrates and sodium tungstate, and a $450 million preferred stock investment to expand Elmet's mining, processing and manufacturing capacity. Elmet has said the funding supports a joint venture to upgrade the Springer Tungsten Complex in Nevada.