To bolster Vietnam's aluminium sector, the Vietnam National Coal and Mineral Industries Group (Vinacomin) sets its sights on two exploration initiatives and five bauxite-alumina-aluminium projects in the central province of Đắk Nông. With an impressive investment projection exceeding VNĐ182 trillion (US$7.3 billion), Vinacomin's strategic focus gravitates towards the expeditious realisation of the Đắk Nông 2 aluminium electrolysis plant project by 2030.
Foreseeing substantial growth, Vinacomin anticipates an annual aluminium production ranging from 0.7 to two million tonnes by 2030, augmenting revenue to VNĐ49.5 trillion and injecting VNĐ8.4 trillion into the State's coffers, thereby fortifying the local economy and fostering employment opportunities for 4,000 individuals. Looking ahead to 2045, this trajectory is expected to propel annual aluminium production to an impressive four million tonnes, generating revenue exceeding VNĐ1.1 quadrillion and contributing significantly to the national budget while concurrently providing employment for 7,000 residents.
Strategic imperatives: Preparation and partnerships
Vinacomin diligently prepares for the future, emphasising readiness in consumer markets, investment capital, power supply, and human resources. Firm alliances with global aluminium users and traders underscore Vinacomin's commitment to ensuring sustained product demand. Bolstered by a formidable financial standing, Vinacomin's total assets surpass VNĐ85 trillion, poised to further escalate with the envisioned increase in charter capital to VNĐ49.5 trillion by 2030, with earmarked funds for bauxite-aluminium projects.
Empowering growth: Infrastructure and expertise
A cornerstone of Vinacomin's strategy lies in fortifying the power supply for the forthcoming Đắk Nông 2 aluminium electrolysis plant. Leveraging existing power plants with a cumulative capacity of 1,735 MW, coupled with the imminent Na Dương II coal-fired power project's contribution of 110 MW, Vinacomin ensures robust power provision for operational exigencies. Moreover, with a workforce exceeding 94,000 adept personnel and a rich reservoir of expertise stemming from collaboration with industry leaders globally, Vinacomin is primed to meet the burgeoning demands of the bauxite-aluminium sector's expansion.
Looking ahead, Vinacomin remains resolute in its commitment to enhancing the capacity of the Nhân Cơ Alumina Plant and augmenting bauxite ore extraction activities in collaboration with Đắk Nông Province's leadership. With the "Development Plan for Bauxite - Aluminum sector until 2030, with a vision to 2045" firmly in place, Vinacomin charts a trajectory of sustainable growth and prosperity, poised to consolidate Vietnam's position as a renowned entity in the global aluminium landscape.
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