Global technology metals manufacturer H.C. Starck signed an agreement with Nui Phao Mining Company for the production of value-added tungsten chemicals. Nui Phao Mining is a subsidiary of Masan Group Corporation, one of the biggest business groups in Vietnam in the private sector. H.C. Starck is one the leading producers of tungsten worldwide.

Nui Phao will have a 51% stake in the joint venture while H.C. Starck will own 49%. The agreement states that H.C. Starck will process Nui Phao's tungsten into chemicals that include ammonium paratungstate (APT) and blue tungsten oxide (BTO). The estimated tungsten trioxide installed capacity per year of the joint venture company is 6,500 tons.

H.C Starck President and CEO Andreas Meier said that the venture strengthens their lead as a global tungsten producer and at the same time increases their footprint in Asia. "Based on the secured supply of tungsten concentrate and our recycling capabilities, we can provide our customers long-term supply security independent from regulatory restrictions and we expect less price volatility for the mineral," he said.