US Takes $450 Million Stake in Tungsten Firm to Counter China
AI Summary
The US Pentagon is acquiring a near-20% stake in a US tungsten producer to reduce reliance on China for critical minerals used in military hardware. This move aligns with US efforts to secure critical mineral supplies amid geopolitical tensions with China.
The Pentagon will take a near-20% stake in a US producer of tungsten — a metal used in military hardware — in a move that expands the Trump administration’s push to secure critical minerals supplies outside China.
Security Politics Markets Deals Commodities US Pentagon tungsten critical minerals China military hardware supply security