LONDON H.C. Starck GmbH and Nui Phao Mining Co. have signed a tungsten chemical joint-venture agreement.
The Vietnamese operation will process tungsten concentrate produced by Nui Phao into tungsten chemicals, including ammonium paratungstate and blue tungsten oxide. The project will have an annual capacity of 6,500 tonnes of tungsten trioxide.
Nui Phao, a subsidiary of Vietnams Masan Group, will own 51 percent of the venture and Germanys H.C. Starck, a major supplier of technology metals, will own the remaining 49 percent.
H.C. Starck said the project will reduce tungsten price volatility and increase the companys presence 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," H.C. Starck president and chief executive officer Andreas Meier said.
A version of this article was first published by AMM sister publication Metal Bulletin.