Aug 27, 05:59 PM

U.S. Allies Race to Keep Vietnam’s Largest Tungsten Mine From China

American and other Western governments are seeking ways to prevent Chinese entities from gaining control of the Nui Phao tungsten mine and adjacent refinery in northern Vietnam, according to people familiar with the matter. Diplomats from the United States and several European countries have made repeated visits to the site in recent months to signal support for keeping the asset in non-Chinese hands. The complex, owned by Masan High-Tech Materials, produces nearly all of Vietnam’s roughly 3,400 metric tons of tungsten a year and can refine up to 6,500 tons, making it one of the largest facilities for the critical metal outside China. Masan has indicated it is open to selling the business; sources say two Chinese companies have approached foreign intermediaries about acting as proxy bidders, a tactic that could obscure Beijing’s involvement and ease regulatory scrutiny. China already accounts for 83 percent of global tungsten output. After Beijing introduced export licence requirements in February, shipments of key tungsten products fell 17 percent between January and July, pushing prices for ammonium paratungstate to record highs—up 71 percent in China and 52 percent in Europe. With Vietnam supplying 22 percent of U.S. and 8 percent of European imports last year, Western officials fear that a Chinese takeover would tighten Beijing’s grip on defence and semiconductor supply chains. Whether Hanoi will approve any stake sale remains uncertain. The government has previously limited Chinese participation in sensitive sectors, and the mine’s current licence expires in early 2028. The talks unfold against strained U.S.–Vietnam relations after President Donald Trump imposed a 20 percent tariff on Vietnamese goods this month, further intensifying the geopolitical contest over critical minerals.

#Western #Chinese #Nui Phao #Vietnam #United States #European #China #Masan #Beijing #Europe #Hanoi #Donald Trump #Vietnamese

Written with ChatGPT .

U.S. Allies Race to Keep Vietnam’s Largest Tungsten Mine From China

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