Nui Phao Mining to be honored with Top 100 Vietnam Gold Star Award 2021

Apr 03, 2022

In the evening of March 30, “Vietnam Gold Star Award 2021” ceremony took place in Hanoi within the 7th Congress of the Association of Vietnam Young Entrepreneurs for the 2022 – 2025 tenure. Nui Phao Mining Company Limited (Nui Phao Mining) was honored to be named in Top 100, and it was the third consecutive year Nui Phao Mining has been awarded with this prestigious award.

Nui Phao Mining is proud to be one of the world’s most efficient tungsten producers, with state-of-the-art production technologies for the specialty products: Tungsten, Fluorspar, Bismuth and Copper. Focus investment in research and development continues to deliver processing, equipment, and chemical improvements. Processing operations are supported by advanced mining and processing management software to maximize recovery and minimize costs and resource loss. During its operation process, Nui Phao Mining has successfully met the selection criteria, is recognized as a typical enterprise for the effective use of capital, potential growth, stable profit and excellent performance in the areas of corporate social responsibility, environmental protection and social security activities. Despite the effect of COVID-19 in 2021, Nui Phao Mining remained committed the core values of: Economic growth along with community support and environment protection; while also developing the sustainable mineral mining and processing model while enhancing the resource value with modern technology. In 2021, the Company made a 1,000 billion-VND contribution to the State Budget, created jobs for over 1,000 workers with an average income of 12,8 million VND/person/month. In addition, the Company contributes USD 1 million on a yearly basis to social security programs in Thai Nguyen, making a significant contribution to the socio-economic development of Thai Nguyen province. The Vietnam Gold Star Award continues to demonstrate the relentless effort of Nui Phao Mining, reaffirming its leading role in business performance and in its contributions to the economic growth. This is a great opportunity for the Company to confirm its competitive strength and enhance the brand reputation in the domestic and international market.

Over the last two years, the COVID-19 pandemic has had a significant influence on all aspects of social life, particularly the economics, production, and business operations of businesses. The Vietnam Gold Star Award 2021 continued to recognize businesses that have demonstrated consistent, long-term growth, a stable workforce, and a strong understanding of their duties to employees and society. Total assets, total revenue, owners’ equity, after-tax profit, contribution to the State budget, return on investment, number of workers, and their average income are among the major factors for appraisal and voting. 294 businesses from 55 cities and provinces across Vietnam were nominated for the Vietnam Gold Star Award 2021.

Vietnam Gold Star Award is one of the key contents of great significance to the international economic integration movement launched by the Young Entrepreneurs and the Youth of Vietnam. The Award is entrusted by the Government’s Prime Minster to be organized and presided over by the Ho Chi Minh Communist Youth Union Central Committee, the Vietnam Youth Federation Central Committee, and the Vietnam Young Entrepreneurs Association Central Committee since 2003.