September 07, 2008

Vietnam\'s central iron mine has large commercially viable reserve

Vietnam News reported that a feasibility study conducted by the state owned Vietnam Steel Corporation and Russia's Giproruda Institute shows the Thach Khe mine in central Ha Tinh province has 370 million tonnes of ore at 60% concentration of iron.

The study also indicates that the mine's tapping could initially be carried out in two phases. The first phase would last for four years, with the exploitation of five million tons of ore per annum. In the second five-year phase, it would increase to 10 million tonnes.

Total investment required for the two phases would be USD 327 to USD 378 million.

The corporation has already had a plan on manufacturing steel billets and finished steel products from the mine's ore.