Ha Tinh province terminates operations at Thach Khe iron mine project.

GD&TĐ - After years of suspension, the Thach Khe iron ore mining and processing project in Ha Tinh province has officially ceased operations.

On July 3rd, the Ha Tinh Department of Finance announced that it had issued a decision to terminate the operation of the Thach Khe iron ore mining and processing project, which was invested in by Thach Khe Iron Corporation (TIC).

According to a decision signed by Mr. Nguyen Duc Thang, Deputy Director of the Ha Tinh Department of Finance, the project was terminated because, after 24 months from the completion date of the objectives as stipulated in the Investment Certificate, the investor still failed to achieve the project's goals and did not fall under the cases eligible for schedule adjustment as prescribed by the Investment Law.

Along with terminating the project, the Ha Tinh Department of Finance also revoked the Investment Certificate issued to the project on December 24, 2008. Thach Khe Iron Joint Stock Company is responsible for carrying out procedures to handle invested capital and assets, liquidate the project, and fulfill other obligations as prescribed by law.

The Thach Khe iron mine covers an area of ​​over 4,821 hectares.

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Earlier, on May 7th, Deputy Prime Minister Pham Gia Tuc chaired a meeting with the People's Committee of Ha Tinh province, relevant ministries and agencies, and the Vietnam Coal and Mineral Industry Group to address the outstanding issues and obstacles of the Thach Khe iron mine project.

At the meeting, the Standing Deputy Prime Minister emphasized that the handling of the project must ensure compliance with the Politburo's conclusions and not legitimize any violations. If the project is halted, a plan should be studied to select a new investor with sufficient financial capacity, modern technology, deep processing capabilities, and the ability to meet environmental protection requirements, while simultaneously addressing existing issues and harmonizing the interests of all stakeholders.

The Thach Khe iron mine, located in the former Thach Ha district, covers an area of ​​over 4,821 hectares and has estimated reserves of approximately 544 million tons, making it the largest iron mine in Southeast Asia.

The project received an investment license in 2008 with a total capital of approximately 14,500 billion VND and an expected exploitation period of over 50 years. In September 2009, the investor began excavating the overburden, but had to temporarily halt operations at the end of 2011 to review the technical design and restructure the shareholders.

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By the end of 2016, the People's Committee of Ha Tinh province requested the central government to temporarily suspend the project because the mining technology was unsuitable for the geological conditions and posed a potential risk to the environment and the lives of the people. Since then, the project has not been implemented and has been left dormant.

Source: https://giaoducthoidai.vn/ha-tinh-cham-dut-hoat-dong-du-an-mo-sat-thach-khe-post783740.html