Decision No. 2581/QĐ-TTg, signed on November 24, approves adjustments to the national plan for the exploration, mining, and processing of mineral resources for the 2021-2030 period, with a vision to 2050.

Located in the northern province of Thai Nguyen, the Nui Phao multi-metal tungsten mine is operated by Masan High-Tech Materials (MHT), a member of Masan Group. The mine and adjacent areas, including the Nui Phao expansion and Nui Chiem projects, are included in the adjustments.

The revised boundaries are designed to fully utilize the nearly 28.03 million tons of underground reserves already licensed, while aligning with updated mining designs and long-term development plans. These changes support optimized extraction and deeper processing in a more modern, safe, and sustainable direction.

Nui Phao currently operates under Mining License No. 1710/GP-BTNMT dated September 21, 2010, with a permitted area of 90 hectares and total approved reserves of 83.22 million tons (including over 55.19 million tons for open-pit mining and nearly 28.03 million tons for underground operations).

The project is now preparing to secure approval to extract the 28 million tons of underground reserves and transition to a combined open-pit and underground mining model.

The mineral complex produces four main outputs: tungsten, fluorspar, bismuth, and copper. Tungsten products undergo further processing through a closed-loop production chain to create high-value materials such as ammonium paratungstate (APT) and tungsten oxide - critical inputs for industries from electric vehicles, semiconductors and aerospace to oil & gas and medical equipment. This enhances Vietnam’s position in the global high-tech materials supply chain.

The Nui Phao deposit ranks fifth globally in fluorspar output (according to the U.S. Geological Survey), and also contains strategic minerals such as bismuth and copper.

It is helping Vietnam build an integrated and sustainable high-tech materials supply chain, from mining and processing to advanced manufacturing. This represents a strategic advantage that enhances Vietnam’s position in the global critical mineral ecosystem.