Masan High‑Tech Materials said it will expand the Nui Phao mine and the nearby Nui Chiem area in Thai Nguyen province. The plan could unlock an additional 115 million tons of tungsten‑polymetallic resources, extending the mine’s life by 20‑30 years. The move comes as the Vietnamese group seeks foreign capital to cement a role in the global critical‑minerals supply chain. The expansion also strengthens Vietnam's export profile.

Global demand for non‑Chinese tungsten has surged as electronics and defense firms scramble for secure supplies. By enlarging its reserves, Masan aims to offer a scaled, deep‑processed source that investors view as a hedge against geopolitical risk. Analysts note that the expansion could lift the company’s market valuation, given the scarcity of comparable projects in Southeast Asia.

The expansion will require significant investment, but Masan expects the added output to attract strategic partners eager to diversify their tungsten portfolios. With the project slated to begin construction later this year, the company positions itself as a rare non‑China supplier capable of meeting long‑term industrial contracts. Investors now have a concrete source of supply to factor into pricing models.