About us


Masan High-Tech Materials is the global leader in providing advanced tungsten materials used in key industries such as electronics, chemical, automotive, aviation and aerospace, energy and pharmaceuticals with production facilities in Vietnam, Germany, Canada and China, servicing the world. As the largest manufacturer of mid-stream tungsten products outside of China, the company has two research and development centers in Germany and Vietnam, and it is currently operating the Nui Phao polymetallic mine and a state-of-the art processing plant in Thai Nguyen province. Masan High-Tech Materials is also a globally significant producer of fluorspar and bismuth.

The Company was established in 2010 and focused on mining and resources extraction activities (as a part of the Masan Group), named Masan Resources Corporation (MSR). In 2014, we started commercial production of Tungsten concentrate, Copper concentrate, Fluorspar concentrate and Bismuth concentrate. To advance Tungsten Chemical factory in Vietnam, in 2014 we established Masan Tungsten Manufacturing LLC (NHTCM) – a joint venture with H.C. Starck Tungsten GmbH, holding 51% stake, then in 2018 we acquired 49% stake in NHTCM and changed its name to Masan Tungsten Limited Liability Company (MTC).

Market Scale

In June 2020, after successfully acquisition of the global tungsten business platform and high-tech manufacturing plants in Germany, Canada and China of H.C. Stack Tungsten GmbH, we changed the company’s name from Masan Resources Corporation to Masan High-Tech Materials Corporation to reflect our wider global ambitions. The acquisition of HCS has enabled vertical integration with Masan High-Tech Materials existing assets’ Nui Phao Mining Company and Masan Tungsten Company products streams, expanding our product mix, our technical capability, our customer base and our geographical reach. This expansion continues as we integrate the businesses.

In October 2020, we signed definitive agreements to establish a strategic alliance in the tungsten industry with Mitsubishi Materials Corporation with the objective of developing a leading, high-tech tungsten materials platform.

The H.C. Starck acquisition and strategic alliance with Japanese giant Mitsubishi Materials are evident of the company’s transformation into a vertically integrated advanced high-tech materials development platform with a focus on sustainability, innovation and customer solutions focus to deliver greater values to our customers and stakeholders.

Corporate History

Promote development of Nui Phao Project.

Nui Phao Project’s basis mine design
approved by MOIT.

Receive Investment Certificate No.41122000131.

Commence commercial production of Acid Grade Fluorspar, Tungsten, Copper and Bismuth concentrate.
Establish NuiPhao – H.C. Starck Tungsten Manufacturing LLC (NHTCM) in Vietnam.

Achieve design capacity and successfully commission the NHTCM Tungsten Chemical facility.
Listed on Hanoi’s UPCOM exchange.

Ranked as premium on UPCOM. Complete the tender offer for the Company’s shares, increasing its ownership to 93.78%.

Upgrades to the tungsten circuit increased tungsten recovery to 67%. Commence procuring third party tungsten raw materials for processing in the NHTCM factory.

Acquire H.C. Starck GmbH’s 49% stake in NHTCM for total cash consideration of USD29.1 million and renamed NHTCM as Masan Tungsten Limited Liability Company (“MTC”).

Purchase the tungsten business of H.C. Starck Group GmbH – a world leading manufacturer of high-tech tungsten metal powders and carbides in the world. The Ministry of Science and Technology issued “High-Tech Enterprise Certificate” to MTC.

Complete the acquisition of H.C. Starck GmbH’s global Tungsten business. Change name to Masan High-Tech Materials Corporation.
Complete a private placement of 10% shares to Mitsubishi Materials Corporation

The maximum foreign ownership ratio of the Company was approved to increase to 49% at the 2021 AGM.
The merger of H.C. Starck Group GmbH's tungsten business platform has proven to be profitable. In 2021, the company achieved a net revenue of 13,564 billion dong.

Invest £45m (approx. €52m) into Nyobolt Limited, a UK-based fast-charging Li-ion battery solutions company

Development Strategy

Masan High-Tech Materials’ vision is to become the global leader and partner of choice, as the high-tech materials industry continues to shape the future of our world. Through the application of innovative, quality assured and sustainable products and processes we will create unparalleled solutions in advanced and strategic materials and superior outcomes for all our stakeholders.

Through the acquisition of the HCS global sales and distribution network importantly strengthens our commitment to working together with our customers to continuously support developing specific product efficiencies and emergent industry initiatives. We are looking to continue the integration of the business units to optimize performance whilst we look to deliver on our vision.

"Go Global"
Execution Strategy

Now truly global our execution strategy for building our business remains focused around three key areas: Local knowledge with global considerations and understanding to facilitate project execution and asset optimization. Masan High-Tech Materials knows that a strong local understanding of the local sensitivities of community and customer concerns are critical for successful and sustainable business.


Community & Social Development Objective

Masan High-Tech Materials have found us in a challenging context composed of issues related to the environment and social and governance policies on the one side, and profit making and business viability on the other. We firmly endeavor to integrate sustainability into our development strategy and make sustainability a fundamental part of everyone’s daily activities.


at Masan High-Tech Materials

Our position on Sustainability remains a matter of public record, and one which we welcome dialogue on. Our delivery of the commitments made enables our people to understand our common approach, our values, how we measure success and the basis for our decision-making.


Management Team

Major Shareholders

Masan Group Corporation

Masan Group Corporation (“Masan” or the “Company”) believes in doing well by doing good. The Company’s mission is to provide better products and services to the 90 million people of Vietnam, so that they can pay less for their daily basic needs. Masan aims to achieve this by driving productivity with technological innovations, trusted brands, and focusing on fewer but bigger opportunities that impact the most lives.

Masan Group’s member companies and associates are industry leaders in branded food and beverages, branded meat, value-added chemical processing, and financial services, altogether representing segments of Vietnam’s economy that are experiencing the most transformational growth.

Click here to view Masan Group Website.

Mitsubishi Materials Corporation

Mitsubishi Materials Corporation (MMC) holds 109.915.542 ordinary shares (equivalent to 10.00% of the total shares in circulation). Mitsubishi Materials Group is an “integrated materials manufacturer” meeting customers’ needs by providing such basic materials as copper and cement, mechanical parts, electronic materials and components used in automobiles, home appliances as well as the tools used to make them. Besides, MMC is also involved in recycling and energy business. It is one of the core companies of Mitsubishi Group in Japan.

Click here to view MMC Website.


Masan High-Tech Materials has made a strong and positive impact in its journey of going global, entrenching its position as a leading global high-tech material producer, and marking its footprint on the global mining map. Below are the prestigious local and international awards and honors that Masan High Tech Materials and its subsidiaries have proudly received in recognition of our progress and achievements throughout the years.

Certificate for Nui Phao Mining to be “Top 100 Vietnam Golden Star Award 2018”
Vietnam Young Entrepreneurs Association
Completion of The Evaluation for Assured Responsible Mining of Tungsten against 2017 Standards
The Initiative of Responsible Mining (RMI)
Certificate of “Top 100 Largest Public Companies in Vietnam” for Masan High-Tech Materials
Forbes Vietnam
Certificate of “Top 500 Largest Enterprises in Vietnam” for Masan High-Tech Materials
Vietnam Report JSC
Certificate of merit for Nui Phao Mining Company’s Trade Union for “Excellent Achievements in the patriotic emulation movement during 2015-2020”
Thai Nguyen Labour Federation
Certificate for Nui Phao Mining Company limited to be “Employee-favoured Enterprise”
Thai Nguyen Labor Federation
Certificate of “Top 50 Excellent Enterprises in Vietnam” for Masan High-Tech Materials
Forbes Vietnam
Certificate of “Top 50 Vietnam Best Growth” for Masan High-Tech Materials
Vietnam Report JSC
Certificate of “Top 50 Sustainable Development Enterprises in Vietnam” for Masan High-Tech Materials
The Vietnam Business Council for Sustainable Development - Vietnam Chamber of Commerce and Industry (VBCSD-VCCI).
Certificate of merit for Nui Phao Mining Company for “Outstanding Achievements in Science and Technology in the period of 2016-2020”
Thai Nguyen Department of Science and Technology