Rising prices of key minerals and prospects for domestic mining enterprises

At the same time, China continues to tighten controls on exports of key minerals, a move that has caused prices of rare earths such as Silver, Copper and Tungsten to skyrocket.

At the same time, China continues to tighten controls on exports of key minerals, a move that has caused prices of rare earths such as Silver, Copper and Tungsten to skyrocket.

Positive signals for domestic mining enterprises

The international commodity market is showing many positive signs. The recent interest rate cuts in the US and Europe have created new momentum for production and consumption. At the same time, demand for strategic metals has increased sharply, especially in high-tech industries such as electronics, renewable energy and defense.

At the same time, China continues to tighten its control over the export of important minerals, a move that has caused the price of rare earths such as Silver, Copper and Tungsten to skyrocket. China's tightening supply has also forced European and American countries to seek ways to diversify their mineral supply chains to reduce their dependence on China. This has created an opportunity for MHT, with the Nui Phao mine being the world's second largest Tungsten mine (outside China), to occupy an important position in the global high-tech materials supply chain.

French and EU Ambassadors on a visit to Nui Phao Mine

The above developments are creating favorable conditions for Masan High-Tech Materials to realize its revenue target of VND 15,000 - 15,800 billion for the 2024 fiscal year. Masan High-Tech Materials' prospects are increasingly clear with the "warming" of global Tungsten demand, promising impressive business achievements by the end of 2024, creating long-term value for shareholders and stakeholders.

Taking advantage, Masan Group's mineral company accelerates

In the third quarter of 2024, Masan High-Tech Materials (a member of Masan Group) maintained revenue growth from Tungsten and increased cash flow from selling Copper. Revenue from copper products reached VND 670 billion, the Company recorded significant contributions from domestic customers, creating financial stability and strength in cash flow management. As of the end of September, the value of copper inventory at Masan High-Tech Materials reached nearly USD 92 million, creating momentum for the Company to make a business breakthrough in the last quarter of the year.

Masan High-Tech Materials is one of the world's largest integrated tungsten and materials producers (outside China), with high-tech tungsten processing and recycling plants located in Germany, Vietnam, Canada and China.

The company owns a comprehensive integrated tungsten platform, from mining, raw material procurement to processing, through research and development, using advanced production technology and 100 years of tungsten recycling experience from Germany to produce and supply high-tech tungsten materials to the global market.

Some copper and fluorspar shipments scheduled for September were delayed to October due to shipping disruptions caused by Typhoon Yagi. The total revenue from these shipments was VND226 billion and VND155 billion, respectively, will be recorded in the fourth quarter business results.

In July 2024, Masan High-Tech Materials signed a memorandum of understanding with Fluorine Korea and Traxys North America LLC to supply acid-grade fluorspar powder to Fluorine Korea’s AHF plant. The agreement ensures a stable supply of up to 70,000 tons of acid fluorspar per year to the AHF plant, which is expected to be operational in 2026.

Also in the third quarter, the Company finalized contracts with new drilling and blasting contractors, which are expected to reduce mining costs by up to 10%. These new contractors began performing services in August and are expected to ramp up production in the fourth quarter.

Vietnam owns the world's largest tungsten mine outside China.

In addition, Masan High-Tech Materials promotes sustainable business operations through the “Fit for Future” program – implementing cost optimization initiatives and improving financial performance. Automation solutions and technological improvements at factories also help the Company control costs and improve productivity. Thereby, ensuring stable production and improving operational efficiency, regardless of fluctuations in raw material costs and global supply chains.

Source: https://baodautu.vn/khoang-san-quan-trong-tang-va-trien-vong-doanh-nghiep-khai-khoang-trong-nuoc-d231506.html