Masan High-Tech Materials asserts leading position of Vietnam’s mining industry

Modern mineral exploitation and processing factory at Nui Phao mine, Vietnam

The meetings featured the participation of representatives from 10 ASEAN countries and three ASEAN dialogue partners of Japan, China, and the Republic of Korea. The objectives of the meetings were to adopt the strategy, plan for sustainable minerals management and development, environmental protection during and after mining; climate change adaptation; strengthening cooperation in ASEAN to elevate the status of Vietnam in the regional and global mining sector; highlight the role, experience of Vietnam in the mining and use of natural resources in an appropriate and efficient manner.

One of the leading businesses in the field of mining and tungsten downstream processing in Vietnam, Masan High-Tech Materials Corporation, was mentioned at the meetings as a role model for efficient, responsible, and sustainable mining in Vietnam.

Many years ago, Vietnam used to learn from and lag behind other countries in mining and processing minerals. This has now completely changed. Through the processing circuits, ROM ores with low grade and value are processed into finished products with higher quality and value, which may be directly used as input materials for industries. Therefore, fostering sustainable mining and enhancing the value of Vietnam's natural resources are always crucial to the livelihood and prosperity of the economy.

Entering the world’s mineral market 11 years ago, Masan High-Tech Materials has earned regional and world recognition in three aspects. Firstly, the ability to develop projects based on its excellent human resources, finances, and technology. The company constantly innovates and researches to develop high-value mineral products, contributing to the growth and sustainable economic development of Vietnam's mineral sector. Secondly, strong capital and cash flows to acquire and develop quality assets to materialise long-term and sustainable values of shareholders, community, and shareholders. Masan High-Tech Materials also hedges against commodity price fluctuations with a diversified basket of metals and minerals, and also relies on professional management expertise of a wide network of investors and business partners to gain low risk level of operation and finance.

With the potential of the state-of-the-art mining and processing technology, constant innovation, research and development of products, over the years, Masan High-Tech Materials has grown into a leading business in Vietnam's mining industry - a demonstration of sustainable and responsible mining practices complying with leading international standards, gradually reaching further in the global high-tech and mining industry.

Masan High-Tech Materials' modern processing plant at Nui Phao polymetallic mine

Awaken the potential of Nui Phao polymetallic mine

Masan High-Tech Materials owns Nui Phao polymetallic mine, an open-pit mine located in Dai Tu district, Thai Nguyen province, with high reserves of tungsten, fluorspar, bismuth, and copper minerals. Realising the necessity of mining, protection, and enhancing the value of Vietnam's precious Tungsten resources, in 2010, Masan Group acquired the Nui Phao Mining project from a foreign enterprise to restructure and officially re-started it. Nui Phao mine is also considered one of the most complex mines in the world with four products contained in a single ore body.

Therefore, the project has been a great challenge for experts and the company, requiring $500 million of investment by Masan High-Tech Materials even when the mine was still unused land. After that, Nui Phao project was put into operation and delivered the first tonnes of products in 2014 which is an important milestone of international significance because Nui Phao is the first new tungsten mine in the world put into operation with the advantage of being one of the lowest-cost tungsten producers in the world. After only 11 years of construction and development, Masan High-Tech Materials has awakened Nui Phao mine and established a new standard in Vietnam’s mining industry.

Downstream processing to increase the value of resources

Masan High-Tech Materials owns strong human resources, finance, and technology to successfully operate a rare mid-stream tungsten processing circuit in Vietnam.

Tungsten mining and processing at Nui Phao mine is well-invested by Masan High-Tech Materials in a sustainable manner in order to enhance the value of resources through modern technology. While other mining enterprises in Vietnam mainly focus on upstream mining, Masan High-Tech Materials focuses on both downstream mining and processing to improve mineral value.

While many polymetallic mines in Vietnam can only invest in mining and processing lines for one or two main types of minerals, Nui Phao mine can process four product lines. Through sorting, processing, and beneficiation, Masan High-Tech Materials can enhance the grade of raw polymetallic ore by dozens of times, making Nui Phao's products not only raw minerals but also high-tech materials critical to modern industries.

In 2020, the production of intermediate Tungsten products totalled 10,171 tonnes for the year which is a 67.5 per cent increase over 2019. Tungsten chemical products such as APT, YTO, BTO were recognised by the Ministry of Industry and Trade as industrial products with high purity. In recognition of Masan High-Tech Materials’ contributions to the development of Vietnam’s high-tech industries, the Ministry of Science and Technology has awarded the company with the prestigious Hi-tech Enterprise Certificate.

A pool of world-class human resources

Masan High-Tech Materials is working, within best-in-class parameters, to develop and expand our business. The company has assembled a team of local and world-class professionals with extensive international and regional experience who are passionate about their work and desire to contribute their strength and intelligence to turn Vietnam’s strategic resources into high-tech global materials.

Masan High-Tech Materials has a team of experts with an average of 15 years of experience from famous large mines in the world such as Barrick Gold, Riotiato, BHP Billiton, and Sepon, among others. These experts came and worked in Vietnam to support Masan High-Tech Materials in technology transfer and experience exchange, helping the company quickly catch up with the most advanced mining technology. The experts at Masan High-Tech Materials have really contributed to the formation and development of a generation of Vietnamese mining experts capable of operating any advanced mining and processing technology in the world.

Sustainable, responsible mining in accordance with international practice

With a scale and resources of the largest Tungsten mine in the world, Masan High-Tech Materials is committed to making specific contributions to implementation of sustainable development goals, in which the direct beneficiaries are local people, the community, and the country.

Some of the added values that Masan High-Tech Materials has created for the community and country are local supply chains established by the company, professional and safety training, operation support, and product consumption since commercial production was launched. Up to now, the company has built and supported many large ancillary enterprises in the area such as Anh Duong Packaging Company and Khanh Hien Tailoring. These facilities have also contributed to creating stable jobs for about 150 workers who are affected by the project with an average income of VND5.5-6.2 million per month.

In its sustainable development strategy, besides the effective implementation of social security programmes and sustainable agricultural development, Masan High-Tech Materials also focuses on support activities related to the health and rural sanitation, paying special care for children. The company is committed to sustainable development and strives to engage the community not only for its long-term business, but also for the firm belief that it has an obligation to improve the standards of Vietnam's mining industry to benefit future generations. Therefore, successful mining development for local people consists not only of the provision of technical solutions but also an effort to build relations, harmonise, and balance all interests.

“We bear in mind that we should effectively use natural resources, take appropriate actions to deliver short-term and long-term benefits for people, environment, and common prosperity. “This is how we operate to ensure sustainable development,” said Craig Bradshaw, general director of Masan High-Tech Materials.

Modern production technology, strict mine management process, sustainable development policy for the community, and compliance with regulations on environmental protection and energy saving at Nui Phao mine have been recognised and highly appreciated by experts, domestic, and international organisations. This once again proves that Masan High-Tech Materials is a leading business in enhancing the value of Vietnam's resources, taking innovation as a development driver, and daring to compete fairly in both domestic and international markets so that natural resources can become an economic potential in contributing to the development of the whole society.