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EQR, Masan High-Tech Materials sign partnership MOU while Australia, Germany enter critical minerals cooperation

EQR, Masan High-Tech Materials sign partnership MOU while Australia, Germany enter critical minerals cooperation

Monday, April 17, 2023, 12:13 GMT+7
EQR, Masan High-Tech Materials sign partnership MOU while Australia, Germany enter critical minerals cooperation
This supplied photo shows Dr. Franziska Brantner and Dr. Markus Ederer in the back row, along with representatives of EQ Resources, Cronimet, and Masan in the front row.

Masan High-Tech Materials Corporation (MHT) has announced the signing of a Memorandum of Understanding (MoU) with EQ Resources Limited (EQR) and its existing joint venture partner Cronimet Australia Pty Ltd (Cronimet) related to the Mt Carbine Tungsten Project in Far North Queensland, Australia.

The MoU will establish a working relationship based on reciprocity and mutual benefit, exchanging knowledge and experience around tungsten exploration, mining, and processing, while potentially assessing new project opportunities and new product applications, MHT and EQR said in a press release on April 12.

EQ Resources Limited is the 100-percent owner of the Mt Carbine Tungsten Mine near Cairns, Australia’s only primary tungsten producer.

The MoU is augmented by an existing long-term offtake agreement that Cronimet Group has signed with MHT, a subsidiary of Vietnam’s Masan Group, which will see approximately 70 percent of Mt Carbine's production for the next four years allocated to MHT.

The proposed strategic partnership between EQR, Cronimet, and MHT aims to continue Mt Carbine’s growth into a world-class sustainable tungsten operation.

The signing of the memorandum was witnessed by Dr. Franziska Brantner, German Parliamentary State Secretary of the Federal Ministry for Economic Affairs and Climate Action, and Dr. Markus Ederer, German Ambassador to Australia.

Hon Madeleine King (L), Minister for Resources and Minister for Northern Australia, and Dr. Franziska Brantner, German Parliamentary State Secretary of the Ministry for Economic Affairs and Climate Action

Hon Madeleine King (L), Minister for Resources and Minister for Northern Australia, and Dr. Franziska Brantner, German Parliamentary State Secretary of the Ministry for Economic Affairs and Climate Action

Dr. Franziska Brantner visited Australia between April 3 and 7, together with a high-profile German industry delegation, to meet with Australian government representatives, various industry groups and to establish business-to-business relations in the fields of critical minerals and hydrogen.

Servicing the world, Masan High-Tech Materials is the global leader in providing advanced tungsten materials used in key industries such as electronics, chemical, automotive, aviation and aerospace, energy and pharmaceuticals with production facilities in Vietnam, Germany, Canada, and China.

As the largest manufacturer of mid-stream tungsten products outside of China, the company has two research and development centers in Germany and Vietnam.

It is currently operating the Nui Phao polymetallic mine and a state-of-the art processing plant in Thai Nguyen Province, northern Vietnam.

Masan High-Tech Materials is also a globally significant producer of fluorspar and bismuth.

EQ Resources Limited is an ASX-listed company transforming its world-class tungsten assets at Mt Carbine in North Queensland, leveraging advanced technology, historical stockpiles, and unexploited resources with the aim of being the pre-eminent tungsten producer in Australia.

The company also holds gold exploration licenses in New South Wales.

It aims to create shareholder value through the exploration and development of its current portfolio, whilst continuing to evaluate corporate and exploration opportunities within the new economy and critical minerals sector.

Yen Viet / Tuoi Tre News

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