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A resource used for producing heavy explosive weapons.
In-game description

Explosive Materials (aka "emats") are a building resource of Foxhole. They are used to craft light explosive weapons, such as the Frag Grenade, Sticky Bomb, and mortar and R.P.G. ammunition.

Explosive Materials are created in Refinery by processing Salvage at a 10:1 ratio.
It takes 4 minutes to refine 100 salvage into 10 Explosive materials.