Vietnam's Masan plans tungsten mine expansion as it seeks foreign investment
2026-06-23 11:22:12 [Print]
Masan High-Tech Materials has announced an expansion of its Nui Phao mine and the adjacent Nui Chiem area, which could add 115 million tons of tungsten-polymetallic resources. The move comes as the company seeks to attract foreign investors and strengthen its position in the global critical minerals supply chain.
"This opens the potential for another 20 to 30 years of mining and processing, while also reinforcing MSR's long-term strategic position at a time when large-scale, deeply processed non-China tungsten supply is increasingly scarce," said Danny Le, Chairman of Masan High-Tech Materials, in an emailed statement.
The expansion coincides with ongoing talks by parent company Masan Group to sell up to a 5% stake in its mining unit to foreign investors, according to the company.
The 921-hectare Nui Phao project hosts one of the world's most significant and largest non-China sources of tungsten-a metal essential for applications ranging from semiconductors and drilling equipment to armor-piercing munitions.
Vietnam was the world's second-largest tungsten producer last year, behind China, with total output estimated at 3,000 tons, according to data from the U.S. Geological Survey.
"This opens the potential for another 20 to 30 years of mining and processing, while also reinforcing MSR's long-term strategic position at a time when large-scale, deeply processed non-China tungsten supply is increasingly scarce," said Danny Le, Chairman of Masan High-Tech Materials, in an emailed statement.
The expansion coincides with ongoing talks by parent company Masan Group to sell up to a 5% stake in its mining unit to foreign investors, according to the company.
The 921-hectare Nui Phao project hosts one of the world's most significant and largest non-China sources of tungsten-a metal essential for applications ranging from semiconductors and drilling equipment to armor-piercing munitions.
Vietnam was the world's second-largest tungsten producer last year, behind China, with total output estimated at 3,000 tons, according to data from the U.S. Geological Survey.
Tungsten Scrap CNC Cutting Blades 70%min Ex-VAT Delivered China
Unit:RMB/kg
China tungsten concentrate producers' inventory statistics by province by month
Unit: mt
