US tungsten supplier Elmet to buy stake in Vietnamese miner Masan

Deal worth $125 million will reduce dependence on top producer China for critical mineral Masan High-Tech Materials' tungsten processing facility in northern Vietnam. U.S. tungsten supplier Elmet Group will acquire a 4.99% stake in the Vietnamese miner, the companies announced on Sept. 24. © AP HANOI — U.S. tungsten supplier Elmet Group will acquire a 4.99% stake in Vietnamese miner Masan High-Tech Materials for about $125 million, the two companies announced Thursday, as they deepen a partnership to secure supplies of the critical metal.

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