Masan High-Tech Materials (MSR) expects net revenue in 2023 of VND16.5 trillion (US$703 million) to VND18.2 trillion, an increase from 6 per cent to 17 per cent compared to the previous period.

The information was released at its Annual General Meeting (AGM) 2023 with the theme ‘Growth through Sustainability’ in Ha Noi on Tuesday.

In 2023, the company will focus on developing a fully integrated circular economy model with a closed value chain that encompasses waste and scrap collection, processing, recycling of scrap, and raw material recovery. Accordingly, Tungsten will be recovered from used batteries and industrial waste, then recycled to be used as feed materials for new product development.

At the AGM, Chief Executive Officer of MHT, Craig Richard Bradshaw said: “Masan High-Tech Materials had a year of challenges, overcoming market fluctuations and impacts of various factors in the region and the world. Though Tungsten revenues and tungsten scrap recycling rates were significantly higher, contributing to delivering FY2022 record revenue."

In 2022, on the back of ongoing strong demand and pricing for Tungsten products, Masan High-Tech Materials delivered record revenue of VND15.55 trillion, an increase of 15 per cent over 2021. Tungsten trioxide revenue increased by 13 per cent, with midstream products (tungsten carbides and powders) produced by H.C. Starck Tungsten Powders, a German-headquartered subsidiary of Masan High-Tech Materials, accounting for 70 per cent of that growth.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 5 per cent, reaching VND3.2 trillion, the second-highest EBITDA ever achieved.

As a result of drilling undertaken at Nui Phao throughout 2020 and 2021, the company increased the JORC Reserves significantly compared to the 2019 JORC Reserves.

Production from tungsten scrap recycling within H.C. Starck increased by 13 per cent. Masan High-Tech Materials is working to increase the proportion of its production from secondary sources (scrap recycling), in keeping with the Company’s “Reduce, Reuse, Recycle” policy.

In 2022, Masan High-Tech Materials established a global innovation hub based on two R&D centers of Goslar, Germany and Thai Nguyen province, Viet Nam. Leveraging the technological advancements of H.C. Starck over the past 100 years, the company continued to invest in innovation and process improvement in order to maintain its long-term growth trajectory.

With experience and potential in the field of supplying high-tech materials, as well as ongoing research to evaluate the needs of critical industries, Masan High-Tech Materials said that Tungsten is the "key" to the innovation future of these industries.

In 2022, Masan High-Tech Materials executed definitive agreements to invest US$56 million into Nyobolt Limited, a UK-based Lithium-ion fast-charging battery solutions company, to promote the application of advanced Tungsten materials in the development and manufacturing of high-performance batteries.

Tungsten-containing batteries can charge up to more than 90 per cent in only 5 minutes with higher heat resistance, 10 times greater power density and durability, resulting in cost savings and more safety for users.

Masan High-Tech Materials plans to implement the first ever and largest Tungsten recycling plant project in Viet Nam servicing the Asian region. The goal is to make Viet Nam the leading Tungsten and critical metals recycling technology development centre in the region.

Masan High-Tech Materials is providing advanced tungsten materials used in key industries such as electronics, chemical, automotive, aviation and aerospace, energy and pharmaceuticals with production facilities in Viet Nam, Germany, Canada and China.

As the largest manufacturer of mid-stream Tungsten products outside of China, the company has two research and development centres in Germany and Viet Nam, and it is currently operating the Nui Phao polymetallic mine and a tungsten processing plant in Thai Nguyen province. Masan High-Tech Materials is also a global producer of Fluorite and Bismuth. — VNS