Pioneering ESG practices, Masan High-Tech Materials honored as a Sustainable Enterprise

Masan High-Tech Materials (a subsidiary of Masan Group, owning the multi-metal Wolfram mine in Nui Phao) has recently been honored as one of the 'Top 100 Sustainable Enterprises'. This marks the 6th consecutive year that Masan High-Tech Materials has made it to the ranking. 

Masan High-Tech Materials has recently been honored as one of the 'Top 100 Sustainable Enterprises'

At the announcing ceremony of Top 100 Sustainable Businesses in Vietnam, Masan High-Tech Materials is recognized as a pioneer and leading business in two categories: adopting a circular economy business model, reducing carbon emissions, and fostering growth, diversity and inclusion in the workplace and surrounding community.

Masan High-Tech Materials is a leading manufacturer of advanced global materials with modern production lines and strict management processes that fully comply with environmental protection regulations. With ownership of the polymetallic mine in Nui Phao (Dai Tu, Thai Nguyen) and two high-tech materials production plants in Thai Nguyen, Vietnam, and Goslar, Germany, Masan High-Tech Materials is an exemplary business with a closed-loop value chain, from mining extraction to production and recycling of high-tech materials critical to global innovations. By applying advanced, environment-friendly technologies and prioritizing the use of renewable energy sources, MHT is making significant strides in transforming the tungsten industry towards sustainability, in order to meet the increasing global tungsten demand.

Therefore, Masan High-Tech Materials has met all the rigorous screening criteria of the Corporate Sustainability Index (CSI) developed by the Vietnam Business Council for Sustainable Development (VBCSD) specifically for Vietnamese enterprises.

Promoting the circular economy for a sustainable future

In 2023, Masan High-Tech has reused 76% of water in its production process, minimizing the demand for clean water and maintaining environmental balance. Additionally, an artificial intelligence (AI)-integrated resource management system enables quicker responses to operational changes, hence better process optimization, and considerable energy savings.

Masan High-Tech Materials is also recognized as a pioneer in implementing carbon-neutral initiatives, promoting the circular economy. The company conducted greenhouse gas inventory audits and calculated greenhouse gas emissions while launching energy-saving programs across all functions of the company with 9 projects exceeding targets, saving up to 1,191 MWh per year. In 2023, through environmental restoration programs, the company planted 2,000 green trees in TSF areas, helping absorb a significant amount of CO2 from the atmosphere.

Masan High-Tech Materials practices waste sorting during operations and looks into ways to recycle waste into other intermediate products, achieving a recycling rate of over 30% of the total generated waste. In the final stage of the product lifecycle, Masan High-Tech Materials could even purchase tungsten-containing scraps and recycle into new materials.

Currently, Masan High-Tech Materials, together with its subsidiary H.C. Starck (Goslar, Germany), is looking to build Asia’s first and largest tungsten recycling plant located in Vietnam. The project aims to make Vietnam become the region’s center for tungsten innovations and sustainability. This is part of Masan High-Tech Materials' Growth through Sustainability" strategy, built on the grounds that sustainability is not a destination but a journey.

Continuously creating new values for the community

In addition to practicing sustainable and green business, Masan High-Tech Materials is Thai Nguyen province’s top flag in the state budget contribution for socio-economic development activities, creating livelihoods for the locals, and enhancing community welfare.

In 2023, Masan High-Tech Materials was honored as a "Great Place to Work" and an "Enterprise for the sake of employees". This reflected unwavering commitment and efforts in implementing the "people-first" strategy, as outlined since the early days of the company's establishment. The company not only ensures transparent and attractive reward systems for its workforce but also creates an environment where each employee is inspired to be creative, dedicated, and maximize their potential.

Masan High-Tech Materials also pays special attention to building a civilized and prosperous community. Every year, the company contributes over VND 1,000 billion to the state budget; USD 1 million for socio-economic and cultural development activities in Thai Nguyen province; creating jobs for thousands of local workers. The company has contributed over VND 4 billion to education support, benefiting more than 2,500 students over the past 10 years. These are shining points in Masan High-Tech Materials' sustainable development journey to date.

"The CSI-100 award truly acknowledges our firm management policies and unwavering commitment to sustainable goals throughout our operations, from mining extraction, processing & production, supply chain management, environment management, to community development activities. The main driver of sustainability at Masan High-Tech Materials is the values created for the community welfare, societal well-being, as well as enhancing Vietnam's position in the robust growth of the global tungsten and high-tech materials industry," shared Craig Bradshaw, CEO of Masan High-Tech Materials.

In its 6th consecutive year of being honored in the Top 100 Sustainable Enterprises Vietnam, Masan High-Tech Materials is a strong example of growth through sustainability, motivating other manufacturing enterprises to invest in sustainable business models, thereby increasing competitiveness in both domestic and international markets. The award once again recognizes Masan High-Tech Materials' management policies focused on sustainability, as well as the firm's relentless efforts to contribute to the socio-economic development of the community, alongside environmental protection. The company’s success today is a result of its perseverance and strategic vision, which also serves as a crucial catalyst for the prosperity and sustainability of both the company and the community in future.