Tungsten Producer Masan High-Tech Materials Announces Big Revenue

Masan High-Tech Materials Corporation has announced an 86 percent increase in its net income to more than VND13.5 trillion ($586.9 million) in 2021, thanks to a merger with a German tungsten producer and a rise in tungsten prices last year.

At its recent annual general meeting in Hà Nội, the company's Núi Pháo Mining, the world's largest tungsten mine outside of China, announced a 97 percent increase in production from 2020 onwards. Production includes 26% from recycled tungsten scrap and 74% from the main supply source from the mine located in Thái Nguyên province.

According to the company, the APT price in 2021 reaches $286 per metric ton unit. In 2020, the APT price is only $222. Craig Richard Bradshaw, the company's CEO, said, "Despite the challenges of the global COVID-19 pandemic and its subsequent impact on the global supply chain and transportation system, Masan High-Tech Material had a strong year in 2021. We had a record year for revenue, along with record production and recovery rates for tungsten."

Last year's integration with H.C. Starck's (HCS) tungsten business platform, which operates in Germany, Canada, and China, helped the company enjoy its more than 100 years of experience at HCS as well as facilitate a global business restructuring aimed at improving operational efficiency and expanding its business and product portfolio.

The HCS business made a significant contribution to Masan High-Tech Materials' overall performance with EBITDA of VND746 billion, while the Núi Pháo mine and Masan Tungsten Company business in Vietnam contributed VND2.3 trillion to the overall performance.

The tungsten producer told its shareholders that it will invest more in innovation and growth, deliver value through new customer-focused products tailored specifically for the electric vehicle and 3D printing sectors, and develop a new analytical device, which was patented at the end of 2021 and is currently in the prototyping phase.

Leading the high-tech materials manufacturing industry, the company holds 16 domestic patents, 87 international patents, 54 application patents, 40 ongoing research projects, and 32 projects in the conceptual stage.

Company Chairman Danny Le shared the company's strategic vision for 2022-2025, saying, "In the near future, Marsan High Tech Materials will be more than a supplier of strategic high-tech materials, partnering with disruptive consumer technology platforms to create direct-to-consumer products, of which tungsten is a key element. Most importantly, we envision a circular platform where we can drive sustainability and productivity through human flow."

In the context of global economic recovery after COVID-19, positive signals in the tungsten market and the shift from gasoline to electric vehicles, the price of tungsten will likely rise in 2022 and the company is expected to achieve revenue of about VND14.5 trillion to VND15 trillion with a net profit of VND300 million to VND500 million pre-distributed to shareholders.

To encourage its employees, the tungsten producer announced an employee share ownership plan at VND20,000 per share in the second quarter of 2022. Headquartered in northern Vietnam, the company is currently a global leader in providing advanced tungsten materials for key industries such as electronics, chemicals, automotive, aerospace, energy, and pharmaceuticals, with production sites in Vietnam, Germany, Canada, and China.

As the largest manufacturer of midstream tungsten products outside of China, the company's CEO said, "Masan Hi-Tech is not just supplying key materials for the manufacture of smartphones, automobiles, aircraft, and submarines, but may one day create practical consumer products for these key industries."

With two R&D centers in Germany and Vietnam, Masan High-Tech Materials is currently operating the Nui Phao polymetallic mine and an advanced processing plant in Thai Nguyen province, which is also a significant global producer of fluorspar and bismuth.

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