Australian miners look to develop mineral supply chains in Vietnam

Two Australian mining companies have expressed interest in tapping Vietnam’s large reserves and developing mineral supply chains in the country.

In separate meetings with Vietnamese Prime Minister Pham Minh Chinh in Canberra Friday, Jeffrey Gandel, non-executive chairman of ASM – an emerging Australian group in mining; and Oliver Kleinhempel, chairman and non-executive director of EQ Resources – a leading Australian group in tungsten production and distribution, said they were seeking investment opportunities in Vietnam.

PM Chinh said Vietnam viewed developing the mining industry as a strategic task that requires resources and modern technologies.

He said Vietnam did not intend to sell raw minerals and was looking instead for investors to transfer hi-tech mining technologies and help the country join global mineral supply chains while protecting the environment.

The Vietnamese government is committed to creating favorable conditions for foreign companies to do business effectively and sustainably in the country, Chinh said.

He suggested that the two Australian firms work with Vietnamese partners and coordinate project implementation with Vietnamese agencies in line with regulations.

The executives agreed with Chinh’s suggestions and expressed appreciation for his message of “harmonizing interests and sharing risks.”

Australia’s Blackstone Minerals Limited is currently operating the Ta Khoa nickel refining and mining project in the northern province of Son La, and is preparing for a potential auction of concessions at the Dong Pao mine, the largest rare earths reserve in the country.

In the joint statement on the elevation of bilateral ties between Vietnam and Australia to that of a comprehensive strategic partnership, announced during Chinh’s recently-concluded official visit, the two sides agreed to set up a ministerial dialogue on energy and minerals.

“We will explore opportunities to deepen cooperation on commodities, products, technologies and services associated with energy systems and carriers, power generation, mining, extractives, processing, minerals and fossil fuels, including coal, oil and gas,” said the statement.