TKV proposes to increase the capacity of two Tay Nguyen bauxite projects
The Vietnam Coal and Minerals Group proposed the Government soon approve the policy of increasing the capacity of two Central Highlands bauxite projects to 800,000 tons of alumina per year.
If this proposal is approved, the capacity of the Central Highlands bauxite projects will increase by about 150,000 tons of alumina per year compared to the current one.
According to TKV, two Tay Nguyen bauxite projects have been piloted, but the largest capital scale in the mining and mineral processing industry (except oil and gas), engineering and technology is complicated and first implemented in Vietnam. Male.
In the recent exploitation and production process, these two projects have significantly contributed to the growth of GRDP, increased revenue for the local budget and created momentum for socio-economic development for the two provinces of Dak Nong and Lam Dong, as well as Dak Nong and Lam Dong provinces. like the Central Highlands. The previous reports of TKV said that from 2017 alumina factories started to be profitable, earlier than planned.
TKV believes that the policy of increasing the capacity of the two projects to 800,000 tons of alumina a year, if approved by the competent authorities, will take advantage of the invested premises and infrastructure, bringing economic efficiency.
“Suggest the Government to direct the ministries and branches to soon appraise the proposal, so that the group can implement the next steps”, TKV suggested in a report to the Government.
A corner of the Central Highlands bauxite project. Photo: TKV
Regarding further investment in projects of exploiting and processing bauxite ores in the Central Highlands, this group has completed exploration and approved reserves of 12 bauxite mines in Dak Nong and Lam Dong with a total reserve and natural resources of 3. ,2 billion tons of raw ore. But currently, TKV has only been licensed to exploit part of the reserves of two bauxite mines Tay Tan Rai and Nhan Co bauxite mine, with a total exploitation reserve of 260 million tons.
Therefore, TKV requests the Government to soon approve the planning for exploration, exploitation, processing and use of minerals 2021-2030, with a vision to 2050, as a basis for the Group to deploy mining projects. processing bauxite ore in the Central Highlands.
The two Central Highlands bauxite projects, including the Lam Dong aluminum bauxite project (Tan Rai Alumin) and the Nhan Co alumina production plant (Dak Nong), have a designed capacity of 650,000 tons of alumina per year, with a total capacity of 650,000 tons of alumina per year. invested about 32,000 billion VND.
Initially, both of the above projects planned to lose money in the first 3-5 years of operation, but in fact, thanks to the increase in alumina prices, they both recorded profits earlier. For example, Alumin Tan Rai in 2017 made a profit of 379 billion dong, one year later the profit increased more than 4 times, to 1,800 billion dong after tax… Thanks to that, the project’s payback period is 10 years, 3 years earlier according to plan.
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