Tungsten-Supplier Elmet Stock Rallies on Defense Funding - Here’s Why

Le Département de la Guerre des États-Unis réalise un investissement historique de 450 millions de dollars dans The Elmet Group afin de sécuriser la chaîne d’approvisionnement américaine en tungstène

The U.S. Department of War announced a $450 million investment in The Elmet Group to strengthen domestic tungsten production and reduce dependence on foreign critical minerals. The investment includes over $165 million for U.S. facilities in Maine, Michigan, and Ohio, plus support for mining operations in Nevada, Australia, and Spain. Additionally, Elmet Technologies secured a $2 billion contract with the Defense Logistics Agency to support strategic defense stockpiles.

Elmet Group, Rum Group, Tyra Biosciences And Other Big Stocks Moving Higher On Monday

Nasdaq fell 1%, while Elmet surged 50.6% on $450M DoD funding plans; Rum, SailPoint, Tyra and cybersecurity stocks also rallied.

Blue Moon Metals shares are trading higher after the company along with Elmet, and EQ Resources announced a binding letter agreement to invest $150 million - $175 million in Springer Tungsten Complex in Imlay, Nevada.

8-K filing — Elmet Group Co. (ELMT)

Filed: 2026-09-14 AccNo: 0001213900-26-099734 Size: 22 MB Item 1.01: Entry into a Material Definitive Agreement Item 3.02: Unregistered Sales of Equity Securities Item 3.03: Material Modifications to Rights of Security Holders Item 5.02: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers Item 5.03: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year Item 7.01: Regulation FD Disclosure Item 9.01: Financial Statements and Exhibits

Crude Oil Jumps 3%; Corning Shares Move Lower

U.S. stocks fell Monday as tech slid; Nvidia may invest $10B in Anthropic’s IPO. Oil rose 3%, while gold, silver and copper declined.