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TKV proposes to “revive” Thach Khe iron mine project and increase bauxite mining capacity

In the recent report on innovation and performance improvement of state-owned enterprises sent by TKV to ministries, branches and the Government, Vinacomin proposed many solutions to improve operations and develop the following fields: business of this group in the near future.

Increase capacity, expand bauxite mining

Specifically, Vinacomin recommends key investment projects of Vinacomin in the mineral sector, specifically for two Bauxite projects in the Central Highlands, TKV said that it has followed the direction of the Party and Government since 2006 TKV has invested in 2 bauxite projects in the Central Highlands (including the Lam Dong Bauxite – Aluminum complex project and the Nhan Co Alumina Factory Project), with a capacity of 650,000 tons of alumina per year for each project.

Up to now, both projects have been put into operation and have high economic efficiency. At the same time, according to the assessment of the Ministry of Industry and Trade (the governing body for assessment), the report to the Prime Minister on the review of the two Bauxite projects has confirmed that both projects have ensured the socio-economic efficiency according to the regulations. requested by the Politburo, has significantly contributed to GRDP growth, increased revenue for the local budget, created momentum for socio-economic development for Dak Nong and Lam Dong provinces and spread to the economy – society in the Central Highlands towards industrialization – modernization.

The implementation of two projects on bauxite mining and alumina production has initially formed Vietnam’s bauxite industry. In particular, these two projects are deployed in an important area (the Central Highlands) of strategic significance in terms of national defense and security, and in defensive operations to protect the organization. national defense and security work in the area.

Although these two projects are pilot investments, they have the largest capital scale of the mining and mineral processing industry ever (except for oil and gas), complex engineering and technology, and are implemented for the first time in Vietnam. Vietnam.

Accordingly, Vinacomin proposed to make use of the invested premises and infrastructure, quickly promote the effectiveness of two Bauxite projects. From 2021, TKV reported and requested the Government to approve the policy for TKV. Investment has been carried out to increase the capacity of 02 projects to 800,000 tons of alumina/year, currently the Government is considering.

Therefore, Vinacomin proposed the Government to consider and direct the ministries, branches and localities to soon appraise TKV’s proposal to invest in the capacity of 2 Bauxite projects to 800,000 tons of alumina, and report to the Government for TKV to implement the next steps. according to.

According to a report by Vinacomin, in 2021, the total capacity of the two alumina plants Nhan Co and Tan Rai has exceeded the designed capacity by 9%, reaching 1.3 million tons (equivalent to 650,000 tons of alumina equivalent/factory).

Regarding further investment in bauxite mining and processing projects in the Central Highlands, Vinacomin has completed exploration and approved reserves of 12 bauxite mines in 2 provinces of Dak Nong and Lam Dong, with total reserves and natural resources. is 3.2 billion tons (primary ore). Currently, TKV has only been licensed to exploit part of the reserves of two mines: Tay Tan Rai bauxite mine and Nhan Co bauxite mine with a total licensed reserve of 260 million tons.

Vinacomin proposed the Prime Minister to direct to soon appraise and approve the “Planning for exploration, exploitation, processing and use of minerals in the period of 2021-2030, with a vision to 2050”, as a basis. for TKV to implement projects on exploiting and processing bauxite ore in the Central Highlands.

“Reviving” Thach Khe iron mine project

Along with the proposal to increase the capacity of the Alumin factory in the Central Highlands, TKV stated the reason for restarting the Thach Khe iron ore mining and selection project that was closed 5 years ago (2017).

Specifically, Vinacomin stated that on February 10, the Politburo issued Resolution No. 10-NQ/TW on strategic orientations of geology, minerals and extractive industries to 2030, with a vision to 2045. Accordingly, the Politburo allows evaluating investment efficiency and sustainable socio-economic efficiency to consider investing in Thach Khe iron mining and processing projects (Ha Tinh) completed before 2030.

Vinacomin asked the Government for permission to restart the project of exploiting and selecting iron ore mine Thach Khe – Ha Tinh.

Since 2007, TKV has presided over and together with domestic investors to establish Thach Khe Iron Joint Stock Company (in which TKV holds a controlling stake) to deploy the project of exploiting and selecting Thach Khe iron ore mine (TKV) Ha Tinh). Up to now, TKV and investors have contributed VND 1,800 billion to the project.

However, after nearly 10 years of project implementation, from 2017 to now, the project has had to be stopped because Ha Tinh province and a number of ministries and sectors have proposed to the Government to consider stopping the Thach Khe Iron Project.

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