Plan to 2020 and vision to 2030 aims at meeting demand in a sustainable manner.
The Prime Minister has ratified a master plan for the exploration, mining, processing and utilization of iron ore by 2020 with a vision to 2030, which targets sustainable development and maximum provision for domestic demand, according to the Office of the Government.
Under the master plan, by 2020, 25 projects on iron ore exploration will be tabled with the aim of raising output capacity to 294 million tons, and two large-scale mines - Thach Khe in Ha Tinh province and Quy Xa in Lao Cai province - and other small and medium-sized mines in Ha Giang, Cao Bang, Lao Cai, Bac Kan, Thai Nguyen, Phu Tho, Thanh Hoa and Quang Ngai provinces, will be put into operation.
The master plan also sets to raise exploitation and processing to around 25-25.5 million tons - equivalent to 36-37 million tons of capacity - in the 2021-2030 period.
In addition, by 2020, 16 mines will be upgraded for higher output and 35 new mines will be exploited.
The master plan also targets to build a database on iron ore resources and encourages enterprises to invest in building large-scale iron ore processing facilities that apply modern and environmentally-friendly technologies.
By 2030 the government plans to have invested around VND20 trillion ($952 million) in the field.
- iron ores