Masan High-Tech Materials works hard for sustainable development

Masan High-Tech Materials, a member of Masan Group, will continue to promote sustainable business, focusing on implementing cost optimization and financial efficiency improvement initiatives, with a view to earning VND15-15.8 trillion ($621.7 million) in revenue this year.

The message was delivered at the company’s 2024 AGM, themed "Fit for Future", which took place on April 23 in the northern province of Thai Nguyen.

In 2023, Masan High-Tech Materials recorded revenue of VND14.1 trillion ($554.8 million), marking the second highest level in its history, and VND1.55 trillion in earnings before interest, tax, depreciation, and amortization (EBITDA).

Sales of inventory copper concentrate improved in the domestic market, reaching VND1,044 billion ($41.08 million), equivalent to 42,387 tons. The company has signed contracts with domestic partners with expected copper sales of 45,000 tons in 2024.

Last year, the company maintained its position as the highest Vietnamese tax paying enterprise in Thai Nguyen province, with a total of VND1,414 billion ($55.64 million).

The firm showed social responsibility through community projects with a total investment of about VND6.8 billion ($267,560). Nearly 4,500 households benefited from these programs, including over 600 ethnic minority households and 270 vulnerable families.

To ensure sustainable development and flexible response to the constant fluctuations of the market in the volatile 2023, the company implemented a series of strategic programs and measures, including the “Fit for Future” program.

In 2023, Masan High-Tech Materials continued to improve production processes to minimize CO2 emissions, and optimized the use of energy and raw materials, while committing to developing superior products that are competitive, efficient and environmentally friendly. It classified and net converted waste into value-added products with a recycling rate of more than 30% of the total volume of waste generated.

Upholding its achievements, Masan High-Tech Materials promoted investment in research and improvement of production processes, with nearly 100 patents globally recognized and another 50 patents in application.

In 2023, the company launched two products with global trademarks 'Starck2charge®' and 'Starck2print®', enriching its high-tech product portfolio, meeting the needs of advanced technology companies and global industries.

Masan High-Tech Materials has been recognized as a pioneer in implementing carbon neutral initiatives, thus promoting a circular economy. The company has conducted greenhouse gas inventories and calculated greenhouse gas emissions, while fulfilling a company-wide energy saving program with nine projects beyond the target, saving up to 1,191 MWh of electricity per year.

Through environmental restoration and improvement programs, the company has planted 2,000 trees in soil and rock waste sites to absorb CO2, with 63.9 hectares covered with trees. The resources management system has been integrated with artificial intelligence (AI), helping to respond faster to changes in operating and optimizing processes, and saving energy.

Masan High-Tech Materials places special emphasis on innovation, sustainable practices and flexible response to market changes. This strategy is clearly demonstrated in the “Fit for Future” program that has been applied to all member companies globally, bringing positive results not only in the present time but certainly in the next stages of the company's development, said CEO Craig Richard Bradshaw.

In 2023, the firm’s board of directors continued to maintain a steadfast management policy, follow sustainable practices, and focus on optimizing resources to overcome difficulties and challenges.

Those efforts have been recognized by a series of prestigious awards and certifications such as "Great place to work", "the Vietnamese enterprise with the highest contribution to Thai Nguyen province's budget, "Top 10 innovative and effective businesses", and "Top 100 sustainable enterprises in Vietnam".

This is recognition of the dedication and tireless efforts of Masan High-Tech Materials on the journey to realize its vision and mission, while affirming its position as a leading sustainable mining enterprise and high-tech materials producer in the domestic and international markets.