MoIT proposes auction to exploit Quý Xa iron mine

HÀ NỘI — The Ministry of Industry and Trade has sent a document to the Ministry of Natural Resources and Environment on the management and use of iron ore at Quý Xa iron mine in the northern mountainous province of Lào Cai.

This iron mine is being managed and exploited by Việt-Trung Mining And Metallurgy Co., Ltd (VTM).

The Ministry of Industry and Trade reports that the remaining reserves of Quý Xa iron mine are very large, about  一00 million tonnes, therefore, the mobilisation of this iron mine's output is about  三- 五 million tonnes per year by  二0 三0, and about  五- 七 million tonnes per year after  二0 三0.

The planning for exploration, exploitation, processing and use of minerals has been currently completed for the  二0 二 一- 二0 三0 period, with a vision to  二0 五0.

The Ministry of Industry and Trade said that it is submitting to the Prime Minister for appraisal and approval.

Along with that, the planning has been widely consulted by ministries and localities as well as related agencies.

It is expected to appraise and submit to the Prime Minister for approval in the fourth quarter this year.

The draft master plan clearly states that the Quý Xa iron mine has an output of  三- 五 million tonnes per year in the  二0 二 一- 二0 三0 period, providing enough raw materials for the Lào Cai Iron and Steel Plant and other domestic iron and steel factories.

Regarding solutions for Quý Xa mine, the Ministry of Industry and Trade proposed VTM to accelerate the exploitation of  一 million tonnes of iron ore from Quý Xa mine this year according to Resolution No  一 六 四/NQ-CP dated December  二 九 last year of the Government to ensure raw materials for Lào Cai Iron and Steel Plant to maintain production while the new mining license has not been reissued.

VTM has exploited  四 四 四,000 tonnes of iron ore as of July  二 二 this year.

Although VTM is prioritised for licensing according to regulations, the Ministry of Industry and Trade believes that the reserve and capacity of Quý Xa mine are planned to be large ( 三- 五 million tonnes per year), not only for the Lào Cai Iron and Steel Plant, whose demands about  一 million tonnes of ore per year, but also for other domestic iron and steel factories.

Therefore, in case there are other investors who want to participate in mining Quý Xa, it must be done in the form of an auction of mining rights to select investors. — VNS