Nui Phao Mining named among Thai Nguyen’s Outstanding Enterprises of 2026

On October 9, 2026, Nui Phao Mining Company Limited (“Nui Phao Mining”, or “Nui Phao”) was honored by the Thai Nguyen Provincial People’s Committee as an “Outstanding Enterprise of Thai Nguyen Province 2026” The recognition highlights Nui Phao’s strong business performance, significant contributions to state revenues, and long-standing commitment to supporting local economic growth and community prosperity.

Strong Business Performance Supporting Provincial Growth

In 2026, Nui Phao and fellow subsidiaries of Masan High-Tech Materials (UPCoM: MSR) delivered strong business growth, reflecting improved operational performance and the ability to capitalize on favorable tungsten market conditions.

For the first eight months of 2026, net revenue reached VND 21,013 billion, 5.1 times the level recorded in the same period last year. August alone contributed VND 5,411 billion, representing a 6.3-fold increase year-on-year.

Operational performance at Nui Phao also strengthened. The mine processed more than 1.14 million tonnes of ore in the first half of 2026. In the second quarter, processed ore volume reached 708,000 tonnes, up 29% year-on-year and 62% quarter-on-quarter. These results reflect ongoing operational improvements and the Company’s ability to respond effectively to favorable market conditions, with tungsten prices remaining elevated.

Nui Phao’s achievements, together with those of the broader business community, have contributed to Thai Nguyen’s economic momentum. In the first nine months of 2026, the province’s gross regional domestic product (GRDP) grew by 11.24%, exceeding its full-year growth target. The provincial economy was estimated to have expanded by 13.96% in the third quarter, ranking second nationwide.

Turning Business Success into Shared Prosperity

Strong business results go hand in hand with a commitment to contributing to the province’s development. In the first nine months of 2026, Nui Phao and MSR’s member companies operating in Thai Nguyen contributed more than VND 2,200 billion to the state budget. This exceeded their full-year 2025 contribution of VND 1,028 billion, making them the leading contributors among Vietnamese enterprises operating in the province.

Beyond its economic contribution, Nui Phao remains committed to improving quality of life, strengthening livelihoods, and developing infrastructure in communities surrounding its operations. In 2025 and the first nine months of 2026, the Company allocated more than VND 5.7 billion to social welfare, humanitarian assistance, charitable initiatives, infrastructure development, and local economic development in An Khanh, Phu Lac, and Dai Phuc communes, as well as elsewhere across Thai Nguyen Province.

Employment is another important part of this commitment. Together with its contractors, Nui Phao supports stable employment for more than 2,000 workers, helping sustain household incomes, create economic opportunities, and strengthen the local economy.

Advancing Downstream Processing in alignment with Thai Nguyen’s direction

Building on Thai Nguyen’s mineral resource advantages, Nui Phao and MSR’s member companies continue to advance the tungsten value chain, with technology and downstream processing at the heart of their growth strategy. The focus is on developing higher-value materials for modern industries while strengthening Vietnam’s role in global strategic-materials supply chains.

In July and September 2026, MSR announced strategic partnerships with South Korea’s GB Innovation and the United States’ Elmet Group, respectively. These collaborations are designed to strengthen raw material connections, expand processing capabilities in Vietnam, and broaden access to international markets.

In September 2026, MSR also received approval to increase its tungsten oxide production capacity to more than 8,000 tonnes of WO₃ annually. Alongside this expansion, the Company is advancing plans to invest in a tungsten metal powder manufacturing plant and develop recycling capabilities under a circular-economy model.

These investments and partnerships represent more than opportunities for corporate growth. They support the transition from resource extraction toward higher-value manufacturing, greater technological capability, and more integrated industrial development. They also align with the province’s ambition to become a regional hub for deep processing of metallic minerals across Vietnam’s northern midland and mountainous region.

By connecting local mineral resources with advanced processing technologies and international markets, Nui Phao and MSR are helping position Thai Nguyen to capture greater value from its natural resources and strengthen its presence in global strategic-materials supply chains.