CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
Vietnam’s top miner Vinacomin plans to invest 182 trillion dong ($7.3 billion) to ramp up its alumina-aluminum production to meet the country’s rising demand for the metal, the government said on Tuesday.
The investment by the state-run firm will go to two bauxite exploration projects and five refining projects in the Central Highlands province of Dak Nong, the government said in a statement. It did not give a time frame for completion.
The Southeast Asian country, a regional manufacturing hub, started its alumina production more than a decade ago, but there have been concerns about pollution and high electricity consumption.
According to the government, Vinacomin will raise the alumina capacity of its Nhan Co Alumina complex to 2 million tons a year from 650,000 tons.
It will also triple the capacity of the bauxite-alumina-aluminum Dak Nong complex nearby to 2 million tons of alumina and 0.5-1 million tons of aluminum a year, the government said.
Dak Nong province has a reserve of 5.4 billion tons of bauxite, the most common raw material used for alumina and aluminum production, according to state media.
(By Khanh Vu; Editing by Kanupriya Kapoor)
Comments