Vietnamese Tungsten Mine Caught in US-China Trade Scramble

Concerns are mounting among American and Western officials about the potential for Chinese control over a significant Vietnamese tungsten mine and refinery, known as Nui Phao. This development threatens access to a major source of the critical mineral outside of China, according to informed sources.

With the rise in US-Sino trade tensions, China, the world's leading tungsten supplier, has enforced export restrictions as retaliation for American tariffs. The Nui Phao complex, owned by Masan High-Tech Materials in northern Vietnam, has become a point of interest, with Masan expressing intent to sell the asset. Chinese companies have discreetly approached foreign firms to act as bidding proxies, insiders reveal.

Stake sales might face pushback from the Vietnamese government, historically cautious about Chinese involvement in sensitive sectors. However, large-scale Chinese investments in Vietnam's manufacturing domain and joint rail projects indicate a complex relationship. Meanwhile, US and Western officials have visited Nui Phao to demonstrate interest in preserving a non-China-controlled tungsten supply chain.

(With inputs from agencies.)