Masan takes full ownership of tungsten processing facility Masan Resources Corporation (UPCoM: MSR), one of the world’s largest integrated industrial tungsten mineral and chemical producers, announced that Nui Phao Mining Company Ltd. (NPMC), a wholly-owned subsidiary of the company, has acquired H.C.Starck GmBH’s (HCS) 49 per cent stake in Nui Phao-H.C.Starck Tungsten Chemicals Manufacturing LLC (NHTCM) for the total cash consideration of $29.1 million, and now owns 100 per cent of this company. NHTCM, previously a joint venture between NPMC and HCS, was established in 2013 and is a leading producer and global supplier of tungsten chemicals (ammonium paratungstate [APT], blue tungsten oxide [BTO], and yellow tungsten oxide [YTO]). NHTCM processes tungsten concentrate (TC), the main product of NPMC, into higher value-added tungsten products. In consideration of NHTCM’s contribution to the development of Vietnam’s high-tech industries, the Vietnamese Ministry of Science and Technology has awarded it the “High-Tech” Certificate. NHTCM is a globally recognised brand and a trusted supplier for many high-tech industrial manufacturers. Craig Bradshaw, CEO of the company, said, “This acquisition is a critical step to deliver our vision of becoming a fully integrated downstream tungsten chemicals business of global scale and influence. It consolidates our ownership of advanced processing technologies. We are the Number 1 primary TC producer with the exception of China, with 36 per cent of the non-China market, and we have clear operational plans to become the largest producer and supplier of tungsten chemicals globally.” Karlheinz Reichert, CEO of HCS’ Tungsten Division, said, “We… [Read full story]
Leave a Reply