Vietnam to start building first copper complex
HANOI - Vietnam is set next week to start construction of its first copper plant, a $65 million mine and smelter that will begin operating a year late in 2005.
A report by the official Vietnam News Agency (VNA) late on Thursday said the state-run Vietnam National Mineral Corp (Vimico) would start building the Sin Quyen complex on September 17.
The complex in northern Lao Cai province bordering China is aimed at reducing Vietnam's reliance on refined copper imports. Capable of refining 10,500 tonnes of copper a year, it would help meet domestic demand estimated at about 20,000 tonnes annually.
In May, Vimico General Director Ngo Van Troi told Reuters the project had been revived thanks to soft loans of more than $40 million pledged by the Export Import Bank of China in March. The balance of the funds will come from Vimico.
The VNA report said construction would be completed in late 2004 for a test-run in the first quarter of 2005. Operations would begin in the second quarter.
The complex would process 1.1-1.2 million tonnes of copper ore per year to produce 42,000 tonnes of pure ore with a 25 percent copper content.
It would also produce 110,000 tonnes of iron ore and nearly 20,000 tonnes of sulphur ore.
Vimico has said the smelter would refine 10,500 tonnes of copper a year. Other by-products would include 340 kg (750 lb) of gold, 145 kg (320 lb) of silver and 40,000 tonnes of sulphuric acid.
The complex would operate for 40 years to extract an estimated 50 million tonnes of copper ore reserves in Lao Cai.
Construction was initially slated to be completed this year or next and production was expected to begin in 2004.
Reuters - September 12, 2003.
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