Vietnam's renowned miner Vinacomin has unveiled ambitious plans to significantly expand its alumina-aluminium production capacity. With an investment totalling a staggering 182 trillion dong ($7.3 billion), Vinacomin's endeavour highlights Vietnam's growing demand for this versatile metal, driven by its burgeoning manufacturing sector.
Vinacomin's investment will primarily target the Central Highlands province of Dak Nong, where two bauxite exploration projects and five refining projects are slated to commence. Notably, the state-run firm aims to elevate the alumina capacity of its Nhan Co Alumina complex to an impressive 2 million tonnes annually, up from its current output of 650,000 tonnes.
Furthermore, the nearby bauxite-alumina-aluminium Dak Nong complex is poised to witness a tripling in capacity, with projections reaching 2 million tonnes of alumina and 0.5-1 million tonnes of aluminium per year.
A Sustainable Vision for the Future
This strategic expansion aligns seamlessly with Vietnam's broader ambitions of fostering a modern bauxite mining sector by 2045, bolstering its commitment to sustainable development. By embracing a circular economy model, Vietnam aims to forge a green economy akin to those of its developed Asian counterparts, propelling the nation towards a more environmentally conscious future.
Future Prospects for Vinacomin
Looking ahead, Vinacomin envisions a trajectory of continued growth and innovation within Vietnam's aluminium sector. As the company sets its sights on expanding its alumina production capacity by an additional 800,000 tonnes, it remains steadfast in its mission to drive progress while adhering to stringent environmental standards.
Vietnam has substantial bauxite deposits, attracting interest from mining companies seeking strategic collaborations to exploit these resources. The country is believed to possess the world's third-largest bauxite ore reserves, most of which are in the Central Highlands and have seen limited mining activities.
According to AL Circle's Aluminium Industry Outlook 2024 report, Vietnam was expected to reach 3.8 million tonnes in bauxite production in 2023, with a potential to extract around 6.8 to 11.2 million tonnes of bauxite each year from four provinces in the central highlands. The Vietnamese government's decision to initiate bauxite mining in the northern region marks a significant step towards resource diversification.
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