Speaking of strategic resources, most of the first things that come to mind are rare earths. That thing is really awesome and controls a large area of high-tech. But do you know that tungsten is actually more ruthless, its strategic value is no less than rare earths, and it is even more dangerous in some places. Tungsten has high density, high hardness, and a melting point of more than 3400 degrees. It is the highest melting point among known metals. It is an absolute protagonist in military industry and high-end manufacturing. For example, making armor-piercing warheads can double the penetration of warheads; key parts of missiles and rocket engines are also inseparable from it. In civilian use, the production of high-speed cutting tools, semiconductor devices, and electronic components all rely on it to support it. The global tungsten market is basically controlled by China. In 2024, the global output will be 84,000 tons, and China will produce 70,000 tons, accounting for 83%. This degree of monopoly is even stronger than rare earths.
Vietnam has become a key player in this matter. In 2024, Vietnam's uranium production of 4500 tons, the world's second, basically depend on the Northern Taipei province's Noppo mine supported. This mine annual production of 3400 tons, accounting for the vast majority of Vietnam's total production, also has a refinery, annual production capacity of 6500 tons, can produce uranium oxide, uranium acid uranium and other products, is the largest uranium refining facility outside of China. Ma'sang high-tech materials company is the owner of this mine, the subsidiary of Ma'sang group, they recently intended to sell this business. The news came out, Chinese enterprises started, two Chinese companies sought foreign agents as a pretext, indirectly participated in the bidding, wanted to
When the United States saw this situation, it immediately panicked. Why? Because the tungsten supply chain is too fragile. US tungsten imports mainly depend on China, but China began to control tungsten exports in February 2025 as a counterattack to US tariffs. Now the United States has to find alternative sources, and Vietnam has become a favorite. In 2024, 22% of US tungsten imports come from Vietnam, and 8% from Europe. If the Nopo mine falls into the hands of Chinese companies, the spare tire that the United States has finally found will be gone. Western officials have visited the mining area several times for several months to express their support for Vietnam's own control of resources. The US State Department and representatives of the European Union have both acted to block the deal.
Behind this is the tug-of-war between major powers over critical minerals. China's tungsten reserves are 1.8 million tons, accounting for more than half of the world's 3.3 million tons. If Vietnam's resources are added to this, China's position in the global tungsten chain will be ironclad. For the United States, this is not only an economic matter, but also a national security matter. Without a stable supply of tungsten, the U.S. military industry and high-end manufacturing will be stuck. Global tungsten consumption is 75,000 tons, more than half of which is used in cemented carbide, and the rest is used in steel alloys, chemical catalysts and other fields. Whoever holds tungsten holds a key link in modern industry.
Vietnam's position is quite delicate. Their trade volume with China will be US $175 billion in 2024. China is the largest partner and also provides technological and market advantages. Sold to Chinese enterprises, the price may be high and the cooperation is stable. In contrast, the United States is unreliable. The Trump administration suddenly imposed a 20% tariff on Vietnamese goods in August 2025, failed to negotiate an agreement with Hanoi, and refused Vietnamese leader Tolan's request for a meeting. This makes Vietnam feel that selling to the United States is risky and may turn against it at any time. Mashan Group originally wanted to optimize its assets. This mining business is not profitable and is not their core food retail business. Last year, they sold their tungsten subsidiary in Germany, and now it is logical to sell the Nopo mine.
However, Chinese enterprises do not want to get it easy. Vietnam is wary of China, mining licenses only until the beginning of 2028, renewal is uncertain. If the procedure is stuck, refineries may reduce production in advance. Chinese enterprises have to be fully packed in price, technology, laws, and markets to convince Vietnam. Global uranium prices because China's export controls have gone crazy, uranium uranium uranium rose in China 71%, Europe 52%. China's exports fell 17% in July than in January, buyers turned to Vietnam, and Nopo mine orders exploded.
This exposes the U.S. to the soft rib in key minerals. The U.S. domestic uranium production is only 1000 tons, the mining cost is high, far from enough. In the global pattern in 2024, China dominates, Vietnam subsidizes, and the U.S. has to hurry diversification supply chain. The EU has also come in, pushing Vietnam to prioritize Western buyers. Australian former ambassador to Vietnam Andrew Goleznovsky said directly, if this refining business is sold to a party in conflict with China's industrial interests, it will be difficult.
From a larger perspective, the competition for the uranium is just the tip of the iceberg. The rare earth, lithium, uranium and these strategic resources play a similar role. Whoever is in the lead, who is in the technology competition has a lot of cards. Vietnam wants to maximize the benefits of the resources, and does not want to completely deviate to which side. The Masan Group continues to evaluate bidding, the government examines mining licenses, and national security factors are equal. The trade until the end of August 2025 is still pending, and the U.S. and Europe continue to pressure to promote alternatives such as joint funds. China's enterprise subsidies emphasize the integration of the industry chain.
This "royal sign" is of great significance to China. If the Nopo mine is taken, China's mining position is stronger and global supply is more stable. For the United States, risks are increased, and domestic development has to be accelerated or other sources have to be found. Global buyers face price fluctuations, military enterprises adjust procurement. Vietnamese mining sector strengthens regulation to ensure compliance. The events reflect China-US competition and supply chain restructuring accelerates.
The importance of uranium is extremely rare, because it affects defense more directly. Armoured bombs, missiles are inseparable from high-density uranium alloys. Semiconductor production of uranium wire, uranium target materials. In 2024, data from the U.S. Geological Survey showed that China's output crushed others. Vietnam is rising rapidly, and the NOPO mine is the focus. The Masan Group was founded in 2004, launched consumer goods, advanced mining, and took the NOPO project in 2010.
The United States responded to emergencies and directly attacked national defense because of tungsten shortages. Although the proportion of Europe's dependence on Vietnam is low, it is also tense. Project Blue Mining Consulting data shows that Vietnam's tungsten exports are key. After China's control, the world turned to Vietnam, pushing up demand. Mashan High-tech Materials' 2025 revenue target is US $590 million to US $622 million, depending on the improvement of tungsten and copper sales. In the third quarter, tungsten revenue rose 2%, and copper reached 670 billion VND.
Vietnam balanced diplomacy, Tolan came to power and pushed the US balance. Trump tariffs made the relationship cold and aggravated uncertainty. China invested in Vietnam's manufacturing is big, railway projects cooperate deeply. Nopo mine multi-metal mines, also produced copper, gold, uranium, uranium. Maasan commercial production in 2014, 2018 fully controlled uranium chemical plant.
Global tungsten recycling is important, Mashan promotes circular economy and disposes of waste materials. H.C. After Starck's acquisition, the recycling volume is equal to Nuopo's annual output. The tungsten market is optimistic in 2024, and the United States and Europe will cut interest rates to stimulate consumption. China's exports are tightly controlled and prices are high. Vietnam supplies 30% of global non-Chinese tungsten.
It's not over yet, Reuters reported on August 27, 2025, Western concerns continue. Chinese agent bids avoid direct appearances. Hanoi blocks sensitive Chinese sectors, but manufacturing allows large investments. Expired mining licenses add uncertainty, contract renewal delays affect refineries.
U.S. indigenous uranium mines are limited and costly. Incidents push U.S. policies to encourage indigenous mines. EU discusses environmental cooperation. Andrew is now an adviser to EQ Resources, dealing with Australian uranium refineries.
Magnesium plays a big role in new energy and electronics.High-tech demand is on the rise and Vietnam’s position is on the rise.Mason signed a MOU for South Korea, stabilizing the supply chain.New contractors reduce mining costs by 10 percent.Fit for Future plans to reduce the yield.
Overall, the game reflects the resource war of the great powers. Vietnam holds licenses, China expands control, the United States defends risk. The global supply chain is fragile and needs to be diversified.