Master plan on mineral exploitation approved

Deputy Prime Minister Tran Hong Ha has signed a decision approving the master plan on the exploration, exploitation, processing, and use of mineral resources for the 2021-2030 period and vision to 2050.

Total investment needed for projects to explore, exploit, and process minerals is estimated at some VND440 trillion ($18.6 billion) in the 2021-2030 period and more than VND221.2 trillion ($9.33 billion) in the 2031-2050 period.

The plan aims to closely manage, exploit, process, and use mineral resources in an economical and effective manner, in line with the developmental requirements of the economy, environmental protection, and climate change adaptation, towards the goal of achieving carbon
neutrality.

It also targets promoting investment and establish a synchronous and efficient mining and processing industry with advanced technologies and modern equipment in line with global trends.

For minerals with significant reserves and strategic importance, such as bauxite, titanium, rare earths, chromite, nickel, copper, and gold, licensed mining enterprises must be fully capable and invest in appropriate processing projects that utilize advanced and eco-friendly technologies.