Elmet Group stock surges 45.7% after Pentagon $450M tungsten investment

The Pentagon announced a $450 million investment to expand The Elmet Group's tungsten production capacity in North America, causing its stock to jump 45.7% pre-market. This marks a strategic move to secure domestic supply of a critical mineral used in defense applications, reducing reliance on foreign sources. The investment signals a broader U.S. push to strengthen supply chain resilience for defense-critical materials.