Sector Overview

We believe the resource sector is one of the core areas that represent Vietnam’s value. It is an underdeveloped and fragmented sector where a local private sector company can achieve scale and develop market leadership. The Nui Phao project fits Masan’s entry strategy and product selection criteria, as it will be a globally significant producer of tungsten, fluorspar and bismuth – niche industrial minerals that are significant enough to establish a private sector leader that can generate cash flows to consolidate the sector.

Vietnam is endowed with significant deposits of a variety of bulk and niche minerals, including bauxite, rare earths, tungsten, titanium, phosphate, coal and iron ore. However, with the exception of coal, a majority of the current mining projects in the country are small in scope, representing an untapped opportunity for development on a larger scale.