Masan High-Tech Materials (MSR) has announced a strategic partnership with U.S.-based Elmet Group. Elmet plans to acquire a 4.99% stake in MSR from a wholly owned Masan subsidiary. Completion remains subject to regulatory and corporate approvals, with the companies aiming to close the deal in the first half of October.
The companies have also signed long-term supply agreements, effective after the transaction closes, covering about 1,250 tonnes of WO₃ equivalent a year. At current tungsten prices, MSR estimates aggregate gross revenue of about $1.5 billion over the initial cooperation period. That is projected revenue from the commercial arrangements, not the price of the 4.99% stake; the equity transaction implies an MSR valuation of about $2.5 billion.