Vinachem, Sojits Nippon Mulling US$300M JV to Exploit Bauxite in Vietnam
Vietnam Chemical Corp (Vinachem) and Japan’s Sojits Nippon Group are mulling a contract to form a joint venture to exploit bauxite in the central highlands province of Lam Dong, Youth newspaper quoted the province’s official as saying.
The joint venture is expected to invest US$300 million to establish a bauxite-exploiting complex with annual capacity of 600,000 tons.
Previously, Vinachem got permission from the government to explore for bauxite mines in Bao Lam district’s Loc Quang and Loc Tan communes, and Dambri commune and Loc Phat ward of Bao Loc town in the province.
Lam Dong, rich in bauxite ores, is also the site of the US$500 million bauxite mining and alumina refinery project of Vinacomin.
Vietnam’s bauxite ore reserves are estimated at over eight billion tons, according to statistics of the former Ministry of Industry. (Youth, Vietnam Panorama)
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