The Elmet Group will acquire a 4.99% stake in Vietnam-based Masan High-Tech Materials Corporation for $124.75 million, implying an equity valuation of $2.5 billion, and enter multi-year agreements covering mined tungsten and conversion services. The relationship connects Masan’s Nui Phao Mine and Vietnamese refining complex with Elmet’s downstream production of precision-engineered components. The companies said the arrangement could support greater refining throughput, new products and broader international customer access. Closing remains subject to customary regulatory and corporate approvals and is expected in the third quarter of 2026. The deal follows a $450 million investment committed by the United States Government and announced Sept. 14, 2026.