Vietnam targets 118 mln tons of bauxite a year in minerals exploitation plan

Vietnam plans to exploit 114.5 million tons of bauxite yearly in 2021-2030 and increase this to 118 million tons a year in 2031-2050, the Ministry of Industry and Trade announced Wednesday.

These targets are laid out in the country’s mineral resource plan signed by Deputy Prime Minister Tran Hong Ha on July 18. The plan aims to facilitate development of the natural resource sector in line with the trend of green, circular and low-carbon economy, the ministry said.

Vietnam also aims to conduct 19 exploration projects to raise bauxite reserves to 1.71 billion tons.

The plan’s deep processing target for bauxite includes: 11.6-18.65 million tons of alumina and 120,000-150,000 tons of aluminum bigot a year in 2021-2030. In 2031-2050, these figures are set to grow to 12-19.2 million tons and 225,000-245,000 tons a year, respectively.

Until 2030, Vietnam will retain the capacity of some operating mines; increase that of the Tay Tan Rai mine in Lam Dong province and Nhan Co mine in Dak Nong province, both in the Central Highlands region; invest in new mines in the Central Highlands provinces of Dak Nong, Lam Dong and Gia Lai; the southern province of Binh Phuoc; the northern provinces of Lang Son and Cao Bang.

From 2030 onwards, the country will continue to maintain or increase the capacity of operating mines and invest in new mines, targeting an exploitation of 72.3-118 million tons a year.

The plan also set targets for other mineral resources including titan, lead, zinc, copper, wolfram, nickel, gold, rare earth, and others.

Also Wednesday, the Ministry of Industry and Trade introduced the national energy plan for 2021-2030, with vision until 2050. The plan aims to ensure energy security, diversify energy sources, ensure participation of various economic sectors, and apply scientific and technological innovations towards keeping the nation’s commitment to reduce net carbon emissions to zero by 2050.

The plan stipulates that a warehouse capacity equivalent to imports of 75-80 days of petroleum and gas products will maintained, and this will be increased to 90 days after after 2030.

In energy transition, the plan has renewable energy accounting for 15-20% of total power generation by 2030 and 80-85% by 2050. It also targets energy savings of 8-10% by 2030 and 15-20% by 2050.