Masan aims to turn Vietnam into a center for developing tungsten recycling technology

Mr. Danny Le - General Director of Masan Group speaking at the Vietnam - Germany Business Roundtable Conference. Photo: Provided by Masan

Vietnamese and German businesses are good partners

“As one of the leading private economic groups in Vietnam, Masan is always actively seeking and developing relationships with major partners,” said CEO Danny Le.

Speaking to the Prime Ministers of Vietnam and Germany, Mr. Danny Le said that the relationship between Masan and German enterprises began in 2013, when Masan sought tungsten refining technology to fulfill its commitment to the Vietnamese Government on deep processing, increasing the value of domestic mineral products.

Masan has chosen HC Starck Tungsten GmbH - a leading company in tungsten refining technology from Germany with a 100-year history of operation and is also one of the few companies in the world with a comprehensive and environmentally friendly tungsten recycling platform.

In 2020, Masan acquired the entire Tungsten business platform of HC Starck, Masan with a total capacity of about 13,300 tons of high-value Tungsten products, making Vietnam the largest Tungsten producer in the world outside of China.

Together with HC Starck, Masan has expanded its market and customer network to more than 50 countries, helping to increase Vietnam's competitive position in the international tungsten market; creating opportunities to train and develop technical experts in Vietnam's high-tech materials industry.

In July 2022, Masan Group signed an investment cooperation agreement with NyoBolt. Photo: Provided by Masan

Will Vietnam have its first Tungsten recycling plant?

Germany is currently Vietnam's largest trading partner in Europe and is also an important transit gateway for Vietnamese goods to other markets in Europe. Two-way trade from 2017 to present has been regularly at 9-10 billion USD, with 11.22 billion USD in 2021 alone. As of October 2022, Vietnamese enterprises have 36 valid investment projects in Germany with a total investment capital and adjusted capital of over 283.3 million USD.

Tungsten deep processing plant at Nui Phao polymetallic tungsten mine, Thai Nguyen, Vietnam. Photo: Provided by Masan

Prime Minister Olaf Scholz said that German corporations and businesses are increasingly interested in Vietnam, especially in the fields of renewable energy and manufacturing industry. He suggested that businesses from both countries join hands to cooperate so that the two countries can develop together.

Scrap recycling process at HC Starck. Photo: Provided by Masan

Masan Group CEO, Mr. Danny Le emphasized that with the trend of sustainable development, promoting circular economy worldwide and on the basis of the success of the high-tech tungsten refining project, Masan is currently continuing to work with HC Starck to study, research, and move towards implementing the project to build the first tungsten recycling plant in Vietnam. The goal of the project will be to make Vietnam a leading center for developing tungsten and precious metals recycling technology in the region, reducing dependence on primary raw materials from mineral exploitation activities.

Deeply processed tungsten products. Photo: Provided by Masan

Mr. Danny Le also shared with the business community of the two countries that Masan and HC Starck have just signed an agreement to invest 45 million pounds in Nyobolt - a company specializing in providing fast-charging Li-ion battery solutions. Nyobolt is expected to use high-tech tungsten material in the battery's anode coating to create a superior battery, with a charging time of more than 90% in less than 5 minutes; 10 times higher capacity; 10 times more durable, helping to save costs per battery use; increased safety, higher heat resistance, and reduced risk of fire and explosion.

“By 2027, Masan will not only be the world's leading supplier of high-tech materials but also directly participate in and lead the market.global technology consumer products in the not too distant future where high performance batteries are just the first step

Mr. Danny Le - General Director of Masan Group

The General Director of Masan Group expressed his hope that the German Government would have plans to support energy prices for energy-intensive businesses and allow the Company to have more flexible access to strategic scrap sources containing metals used as input materials for the recycling industry in Germany.

Masan Group also proposed that the Vietnamese Government consider and approve the policy of allowing the import of tungsten scrap to ensure input materials for the tungsten recycling plant project - a key project that Masan is focusing all its efforts on researching and implementing, with the ambition of turning Vietnam into a leading center for developing tungsten and precious metals recycling technology in the region, reducing dependence on primary raw materials from mineral exploitation activities.