The Ministry of Agriculture and Environment has just announced the results of the "Project for a comprehensive mineral survey and completion of a 1/50,000 scale geological map of the Northwest region to serve the planning of sustainable socio-economic development (Northwest Project)".
Accordingly, 110 mineral mines have been discovered and evaluated, including 40 gold mines in the Northwest with reserves of nearly 30 tons of gold.
As of 2:50 p.m. on March 31, on the Asian market, the spot gold price skyrocketed by another 35 USD, to 3,121 USD/ounce. Therefore, each ton of gold costs about 100 million USD, equivalent to 2,580 billion VND. The total reserve of 30 tons of gold in the Northwest is worth about 3 billion USD.
However, this is only the forecasted reserve, the actual figure when put into exploitation will have errors. In some cases the error is very significant.
Vietnam has a number of large-capacity gold mining enterprises, including TKV - Vimico Minerals Corporation (KSV). KSV mines about 1 ton of gold/year and has a profit of VND1,275 billion in 2024.
With current output, Vimico is the largest gold mining and production company in Vietnam.
Besides KSV, Lao Cai Gold JSC (GLC) is also a well-known gold mining enterprise in Vietnam.
Lao Cai Gold mines, selects and refines gold from Minh Luong gold mine, Van Ban, Lao Cai. The company is allowed to exploit gold ore and the entire amount mined is sold to TKV Minerals Corporation to produce gold for consumption on the market.
However, in recent years, GLC's revenue has been zero because its gold mining license expired in April 2019, so the company has temporarily stopped mining.
Source: https://vietnamnet.vn/40-mo-vang-tru-luong-gan-30-tan-o-tay-bac-co-gia-tri-uoc-tinh-bao-nhieu-2386378.html
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