Masan High-Tech Materials is progressing in its strategy to expand exploration and mining areas around the Nui Phao mine in northern Vietnam. Based on estimates, the expansion area and adjacent Nui Chiem area have potential resources of 115 million tons of tungsten-polymetallic ore.
The 42.9-hectare Nui Phao expansion area, located adjacent to the existing Nui Phao mine, was designated as a non-auction area for mineral exploitation rights in May. The Nui Chiem area covers approximately 1,000 hectares and had previously been designated as a non-auction area for mineral exploitation rights.
“Sixteen years ago, few believed that a mine in Thai Nguyen could become a strategic link in the global high-tech materials supply chain. Today, [Masan] is no longer simply a mining company. We have built a leading integrated tungsten platform outside of China – spanning mining, deep processing and advanced materials supply – serving industries that are shaping the future, including AI, semiconductors, aerospace, energy and defense,” said Danny Le, chairman of Masan High-Tech Materials.
“The latest progress at Nui Phao expansion and Nui Chiem not only opens the potential for another 20 to 30 years of mining and processing, but also strengthens [Masan’s] long-term strategic position at a time when scaled, deeply processed non-China tungsten supply is increasingly scarce. We are proud that Vietnam’s natural resources can help serve some of the most important industries of the 21st century.”
Masan said it also expects to expand its tungsten oxide capacity to more than 8,000 tonnes WO₃ to meet increased customer demand in line with its current APT capacity, which is expected not to require significant capital.
The Nui Phao expansion exploration proposal is currently under appraisal by the Vietnam Department of Geology and Minerals.
Source: Masan High-Tech Materials