MHT advances its 'Back to Basics' strategy

The information was revealed by the company at its 2025 AGM in Thai Nguyen province on April 22.

During the current supply chain disruptions of critical minerals, MHT has committed to delivering sustainable value to its shareholders and partners by strengthening the core foundation that defines its identity and long-term competitiveness: the mining and processing of mineral resources.

2024 witnessed a challenging macroeconomic environment for global businesses, marked by geopolitical tensions, volatile supply chains, reduced global demand, and extreme weather events. In response, MHT chose to adopt is Back to Basics strategy, focusing on what matters most – operational excellence, cost efficiency, and resource optimisation.

This strategy delivered robust results last year, with the company reporting revenue of over VND14.3 trillion ($640 million), up 2 per cent on-year. Its copper business segment grew significantly, contributing VND1.44 trillion ($55.4 million), an increase of nearly VND400 billion ($15.4 million), driven by robust domestic demand. Earnings before interest, taxes, depreciation, and amortisation reached VND1.78 trillion ($68.5 million), marking a 15 per cent increase over 2023 – a clear outcome of MHT's focus on cost control, production optimisation, and operational efficiency across its manufacturing assets.

In a strategic milestone for 2024, MHT successfully divested its entire stake in H.C. Starck Holding GmbH to Mitsubishi Materials Corporation, generating $134.5 million in proceeds and a one-time profit of nearly VND1 trillion ($38.4 million) in the fourth quarter last year. This enabled the company to streamline its portfolio and focus fully on its core business: high-margin metal mining and refining in Vietnam.

MHT also unlocked new revenue potential by applying advanced technologies to extract precious metals from over 100,000 tonnes of sulphide concentrate stockpiles - a cost-effective and strategic move. Its product portfolio has become more diversified and specialised, including high-purity APT, 4N Bismuth (99.99 per cent), Ammonium Metatungstate, and recycled Molybdenum, all essential inputs for the fast-growing high-tech and renewable energy supply chains.

Last year, Masan Tungsten Company (MTC), MHT's advanced tungsten refinery plan, was once again recognised by Vietnam’s Ministry of Science and Technology as a 'High-Tech Enterprise' for the 2025–2029 period. This honour reflects MTC’s advanced extraction technologies and high-purity tungsten products.

On the sustainability front, MHT continued to roll out impactful environmental, social, and governance initiatives in 2024, with over 8,000 GJ of energy saved through efficiency initiatives, 76 per cent of water reused via internal circulation systems, and 64 hectares of mined land rehabilitated and reforested.

Community initiatives also made a significant impact, with over $140,000 invested in infrastructure, education, agriculture, and livelihood support, benefiting over 3,500 local people. MHT maintained its position as the top corporate taxpayer in Thai Nguyen province, contributing approximately $36 million to the state budget in 2024, reaffirming its role as a responsible, sustainable, and community-driven enterprise.

As China tightens exports of critical minerals like tungsten, bismuth, and fluorspar, countries around the world are seeking reliable alternative sources. MHT is well-positioned to become a strategic partner for global corporations and industries. When the US announced new tariffs on imported critical minerals on April 15, MHT's entire export portfolio, including tungsten oxide, bismuth, and acidspar, was exempted. This gives the company a substantial competitive edge in key global markets.

Ashley McAleese, CEO of MHT, said, "Since 2024, we have sharpened our focus on operational excellence and financial discipline to maintain strong margins at the mine and processing plant. In 2025, we're advancing strategic initiatives from resource optimisation to innovation-driven growth, building long-term competitive advantages and sustainable value for all stakeholders."

In a world of constant change, where supply chains are being reshaped, MHT's decision to double down on its core business is not simply a safe move - it’s a strategic step to strengthen its foundations and maximise its competitive advantages to seize the next wave of growth.

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