Vietnam’s nickel resources estimated at 3.6 million tons

Most of the resources locates in Thanh Hoa province, with over 3 million tons. Son La has 420,523 tons, and Cao Bang, 133,677 tons, Ministry of Industry and Trade cited the data from the Institute of Mining and Metallurgy Science and Technology.

In 2018, the government approved the plan for the exploration, exploitation, processing and use of gold, copper, nickel and molybdenum ores up to 2025, with a vision to 2035, which clearly states directions for nickel minerals.

The plan expected nickel concentrate mining output at 118,000 tons and putting into operation 2 nickel factories with a total annual output of about 8,000 - 11,000 tons.

Blackstone Minerals, an Australian-owned exploration and mining company, is developing three projects in the north of Vietnam.

Photo: Reuters

In 2019, the company announced the acquisition of 90% of Ban Phuc Nickel Mine Co. Ltd., in Ban Phuc commune, Bac Yen district, Son La province about 160km from Hanoi. It focuses on developing mining and refining battery metals processing, producing nickel – cobalt - manganese precursor products for Asia's growing lithium-ion battery industry.

Blackstone believes its efforts to create a business that value-adds to the products they mine – delivering this in an environmentally friendly way by using renewable hydroelectricity –will put Vietnam at the leading edge of the green revolution.

The upstream project is on the Ban Phuc Nickel Mine in Son La Province. Current activities include resource drilling and preparation of samples for testing. Future developments will depend on the results of the testing and the grant of the necessary permits by the Government of Vietnam.

The downstream project will involve the deep processing of nickel ore from the upstream project. The site selected for the refinery project is in the Gia Phu commune of the Phu Yen district also in Son La province.

The project is currently actively implementing the pilot phase to bring the plant into operation by 2025, said Scott Williamson, MD of Blackstone Minerals.

With surging demand for nickel underpinned by the electric vehicle revolution, promoting the country's natural nickel source will make an important contribution to the social-economic development of Vietnam now and in the future.

With the forecasted increased use of electric vehicles, all eyes are on the metals used to produce electric batteries, including nickel, with worldwide reserves currently estimated at around 89 million tons.