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Statistics and information on the mining industry in Vietnam.

Overview


In 2024, Vietnam was estimated to be the world’s second-ranked producer of tungsten, accounting for 4.1% of global production; third-ranked producer of cement, accounting for 2.3% of global production; and fifth-ranked producer of fluorspar, accounting for 1.4% of global production. Other mineral commodities produced in the country included alumina, antimony, bauxite, bismuth, cobalt, copper, gold, graphite, iron ore, pig iron, lead, manganese, nitrogen (ammonia), phosphate rock, rare earths, salt, raw steel, tin, titanium (mineral concentrates), zinc, and zirconium (mineral concentrates). 

The mining and quarrying sector contributed about 2.5% to the gross domestic product. The legislative framework for the mineral sector in Vietnam is provided by the Mineral Law of 1996 (VNM–1996–L–73762), as amended in 2005 and 2010. The Department of Geology and Minerals directly under the Ministry of Natural Resources and Environment oversees the mineral industry. The mineral industry is dominated by state-owned enterprises, such as Vietnam National Coal and Mineral Industries Holding Corp. Ltd. (VINACOMIN), which accounted for approximately more than 99% of national coal production. Domestic nonstate-owned enterprises dominated cement, salt, and steel production and foreign-owned enterprises did in crude petroleum. 

The Ta Khoa Nickel Project including the Ta Khoa Refinery in Son La Province was set to complete Phase 1 by December 2025. LS Eco Energy Ltd. and Trident Global Holdings Co. Ltd. of the Republic of Korea, together with Zoetic Global LLC of the United States invested in the development of rare-earth mines and processing facilities in Vietnam through agreements and the establishment of a joint venture. 

 

2024 Report

Full data release with tables here.


Introduction 

In 2024, Vietnam was estimated to be the world’s 2d-ranked producer of tungsten, accounting for 4.1% of global production and 3.0% of the world’s reserves; 3d-ranked producer of cement, accounting for 2.3% of global production; 5th-ranked producer of fluorspar, accounting for 1.4% of global production and 5.0% of the world’s reserves; 9th-ranked producer of pig iron, accounting for 1.1% of global production; 11th-ranked producer of raw steel, accounting for 1.2% of global production; 11th-ranked producer of bauxite, accounting for 0.87% of global production and 11% of the world’s reserves, 11th-ranked producer of rare earths, accounting for 0.079% of global production and 3.9% of the world’s reserves; and 16th-ranked producer of graphite, accounting for 0.032% of global production and 3.3% of the world’s reserves. Other mineral commodities produced in the country included alumina, antimony, bismuth, cobalt, copper, gold, iron ore, lead, manganese, nitrogen (ammonia), phosphate rock, rare earths, salt, tin, titanium (mineral concentrates), zinc, and zirconium (mineral concentrates) (Production table; Cordier, 2025; Hartingh, 2025; Londono, 2025, 2026; Merrill, 2025, 2026; Stewart, 2025, 2026; Hatfield, 2026; Johnston, 2026; Saloum, 2026; Tuck, 2026). 

 

Minerals in the National Economy 

In 2024, the country’s real gross domestic product (GDP) increased by 7.1% compared with an increase of 5.1% in 2023. The nominal GDP was \$476 billion.1 The mining and quarrying sector contributed 2.5% to GDP in 2024 compared with 2.9% (revised) in 2023, and the sector’s output decreased by 6.3% from 2023. Within the mining and quarrying sector, the output value of mining of metallic ore increased by 13%; that of the mining support service activities, by 11%; and that of other mining and quarrying, by 2.9%. The manufacturing sector accounted for 24.4% of the GDP in 2024 compared with 24.1% in 2023, and the sector’s output increased by 9.5% compared with that of 2023. In the manufacturing sector, the output value of the manufacturing base metals increased by 9.8% and that of the manufacturing nonmetallic mineral products increased by 1.3%. The mining and quarrying sector employed 179,000 people, which accounted for 0.34% of the country’s total labor force in 2024 (General Statistics Office of Vietnam, 2025, p. 162, 168, 237, 243, 311, 312). 

 

Government Policies and Programs 

The legislative framework for the mineral sector in Vietnam is provided by the Mineral Law of 1996 (VNM–1996–L–73762), as amended in 2005 and 2010. The Department of Geology and Minerals is organized directly under the Ministry of Natural Resources and Environment (MONRE) and has the function to assist the Minister in conducting State management over geology and mineral resources, including basic surveys and research of geology, mineral resources, and mineral activities (mineral prospecting, exploration, exploitation, and processing) (Ministry of Natural Resources and Environment, 2003). 

On April 23, Decision No. 333/QD-TTg was promulgated to implement Decision No. 866/QD-TTg (“the Master Plan”), which was approved by the Prime Minister in 2023. The Master Plan sets out the objectives for the exploration, exploitation, processing, and use of minerals for the period 2021–30, with a vision to 2050. The Decision establishes the framework and assigns responsibilities for executing Master Plan (Prime Minister of Vietnam, The, 2023, 2024).  

On November 29, the National Assembly passed the Law on Geology and Minerals No. 54/2024/QH15 (the “New Law”). The New Law is scheduled to be effective on July 1, 2025, and is expected to provide a consistent and unified legal framework for the management and exploitation of geologic resources and minerals and to be consistent with amended related laws, including land, construction, planning, investment, environmental protection, and public assets since 2010. Compared with the Mineral Law of 2010, the New Law permits exploitation without formulation of mineral master plans or geologic and mineral management plans. The New Law strictly prohibits the trading of minerals from illegal sources and illegal mining activities. In 2024, companies that developed and used Vietnam’s natural resources were subject to the National Resource Tax, such as gemstones (between 18% and 27%), tungsten and antimony (20%), rare earths and titanium (18%), gold (17%), other metallic minerals (between 10% and 15%), and nonmetallic minerals (between 6% and 15%) (Dezan Shira & Associates, 2024; Massmann, 2025; Nguyen, 2025, p. 1; Quang and others, 2025; Vietnam Law & Legal Forum, 2025). 

 

Production 

Data on mineral production are in the Production table (formerly table 1). 

 

Mineral Trade 

In 2024, the total value of goods exports increased by 14% to \$406 billion, of which the mineral industry accounted for 0.56% of total goods exports. Exports of iron and steel (excluding steel products and scrap) increased in value by 8.8% to \$9.08 billion; iron and steel products, by 15% to \$4.59 billion; and other base metal and products thereof, by 4.4% to \$4.19 billion. However, the value of exports of clinker and cement decreased by 14% to \$1.14 billion. In 2024, Vietnam’s main goods export partners, in terms of value, were the United States (which received 29% of Vietnam’s total exports), China (including Hong Kong) (18%), the Republic of Korea (6.3%), and Japan (6.1%) (General Statistics Office of Vietnam, 2025, p. 727, 728, 732–733, 735–736). 

In 2024, the total value of goods imports increased by 17% to \$381 billion, of which the mineral industry accounted for 6.0% of total goods imported. Imports of iron and steel increased in value by 21% to \$12.6 billion; crude petroleum, by 14% to \$8.12 billion; coal, by 6.3% to \$7.62 billion; iron and steel products, by 21% to \$6.50 billion; other base metals and products, by 42% to \$3.20 billion; and ore and other minerals, by 20% to \$2.85 billion. The imports of petroleum refinery products, in terms of value, decreased by 8.3% to \$7.89 billion. In 2024, the country’s main goods import partners were China (which supplied 38% of Vietnam’s total imports), the Republic of Korea (15%), Taiwan (6.0%), Japan (5.7%), and the United States (4.0%) (General Statistics Office of Vietnam, 2025, p. 727, 738, 742, 744–746). 

 

Structure of the Mineral Industry 

In 2024, 685 new mineral industry enterprises were established, accounting for less than 0.5% of total enterprises established. In 2024, in terms of production, state-owned enterprises accounted for more than 99% of coal; domestic-nonstate-owned enterprises accounted for 85% of salt, 68% of steel products, and 53% of cement; and foreign-owned enterprises accounted for more than 99% of crude petroleum and 70% of raw steel (General Statistics Office of Vietnam, 2025, p. 325, 326, 391, 394).  

In 2024, domestic investment in mining and quarrying decreased by 8.6% to \$1.10 billion and one newly licensed project funded by foreign direct investment (FDI) was valued at \$3.8 million. As of December 2024, the total number of licensed projects in mining and quarrying sector funded through FDI was 106 and accounted for 0.25% of country’s total number of licensed projects funded through FDI. FDI projects in mining and quarrying sector were valued at \$4.87 billion, which accounted for approximately 1.0% of the total accumulated FDI in the country in 2024. The total number of licensed projects through overseas direct investment (ODI) funded from Vietnam entities into foreign mining and quarrying sector was 73 and accounted for 4.0% of country’s total licensed oversea projects. Accumulated ODI projects in mining and quarrying were valued at \$7.03 billion, which accounted for 31% of total ODI (General Statistics Office of Vietnam, 2025, p. 333, 345, 351, 357, 358). The Facilities table (formerly table 2) is a list of major mineral industry facilities. 

 

Commodity Review 

Bauxite and Alumina.—State-owned VINACOMIN planned \$7.3 billion investment in expansion of alumina production and initiation of aluminum production on plant sites of its subsidiaries, Dak Nong Aluminum Co. and Lam Dong Aluminum Co. Both companies were expected to expand the alumina production capacity from 720,000 metric tons per year (t/yr) to 2 million metric tons per year (Mt/yr) and develop a 500,000-t/yr aluminum electrolysis plant, at their own sites. The plan was expected to be complete by 2030 (Facilities table; Vu, 2024; Vietnam Energy Online, 2025)  

Bismuth and Cobalt.—Masan High-Tech Materials Corp. wholly produced mined bismuth and cobalt in Vietnam. The production of bismuth decreased by 67% (estimated) and cobalt, by 35% compared with that of 2023 owing to lower grade ore with higher level of oxidization and reduced recovery rates. Production of polymetallic ore from the Nui Phao tungsten-fluorspar-bismuth-copper-cobalt mine decreased to about 3.3 million metric tons (Mt) in 2024 from 3.5 Mt in 2023. In July 2024, resumption of blasting and mining activities ramped up to 15,000 bank cubic meters per day following regulatory approval of a revised mine design and blasting plan from 3,000 bank cubic meters per day in March (Production table; Facilities table; Masan High-Tech Materials Corp., 2024, p. 101; 2025a, p. 4, 5, 18, 23, 82). 

Gold.—Vietnam produced 852 kilograms (kg) of mined gold in 2024, of which VINACOMIN – Mineral Holding Corp. (VIMICO) produced 806 kg from the Vi Kem Mine through its subsidiary Sin Quyen-Lao Cai Copper Mining Co. Since 2012, the Government had a monopoly on gold bar production and exports and imports of gold materials for gold production, according to Decree 24/2012/ND-CP (Production table; Facilities table; Giang, 2025; VINACOMIN – Mineral Holding Corp., 2025, p. 39). 

Nickel.—In August, Blackstone Minerals Ltd. of Australia made a binding strategic agreement with local Xuan Loc Tho Co. Ltd. to jointly develop the Ta Khoa Nickel Project and Ta Khoa Refinery in Ban Phuc, Son La Province. After the completion of stage 1 by December 2025, Blackstone would deconsolidate its subsidiaries in Vietnam. The pilot program to produce precursor cathode active material (pCAM) in the chemistry of NCM811 (LiNi0.8Co0.1Mn0.1O2) commenced in May and completed the production of lithium-ion batteries for the electric vehicle market in October (Blackstone Minerals Ltd., 2024, p. 8; 2025, p. 4, 5). 

Rare Earths.—In 2024, the production of rare earths [mine, rare-earth-oxide (REO) equivalent] in Vietnam was estimated to remain stable compared with the production in 2023.  In January, the MONRE announced the discovery of 489 new sites to develop for potential future production of mineral commodities, including apatite, coal, copper, feldspar, gold, graphite, iron ore, kaolin, nickel, radioactive (thorium-containing) minerals and rare earths. Rare-earths sites were identified in Lai Chau, Lao Cai, and Quang Nam Provinces. In June, Vietnam decided not to export raw rare-earth elements to protect rare-earth reserves and to promote domestic processing and manufacturing value-added products (Production table; Kha, 2024; Voice of Vietnam, 2024). 

In January, Hung Thinh Minerals Investment Co. Ltd. signed an offtake agreement with LS Eco Energy Ltd. of the Republic of Korea to supply 500 t/yr of rare-earth oxide starting in 2025. In May, Trident Global Holdings Co. Ltd. of the Republic of Korea signed a strategic cooperation development agreement with Hung Hai Construction LLC and acquired its mining rights of Bac Nam Xe Mine (2 Mt reserve, gross weight), Nam Nam Xe Mine (3 Mt), and a 29% share of Dong Pao Mine (1.5 Mt) in Lai Chau Province. In July, Trident Global established a strategic joint venture with Zoetic Global LLC of the United States, which would provide environmentally friendly technologies for efficient rare-earth production (Anh, 2024; Duc, 2024; Van, 2024; Trident Group Holdings, 2025). 

Iron and Steel.—In 2024, production of raw steel and finished steel products in Vietnam increased by about 15% to 22.1 Mt and by 7.1% to 26.4 Mt, respectively. Domestic crude steel and finished steel products consumption increased by 14% to 21.4 Mt and by 10% to 25.1 Mt, respectively. Vietnam’s steel exports increased by 13% to 12.6 Mt and imports of finished steel increased by about 33% to 17.7 Mt (Production table; Vietnam Steel Association, 2025).  

The leading steel company in Vietnam and Southeast Asia, Hoa Phat Group JSC, produced 8.7 Mt of crude steel, an increase of 30% compared with that in 2023; construction steel and high-quality steel, an increase of 18% to 4.48 Mt; and hot rolled coil steel (HRC), an increase of 5% exceeding 3 Mt. In December, construction for the phase 1 of Hoa Phat Dung Quat 2 Steel Integrated Complex was completed and was in preparation for trial operations in the first quarter of 2025. The phase 2 was expected to be completed by the end of 2025, which would increase the Hoa Phat Group’s total steel production capacity to 15 Mt/yr (Facilities table; Hoa Phat Group JSC, 2025, p. 19, 43–46). 

Tungsten.—Mitsubishi Materials Corp. Group of Japan signed definitive agreements to acquire 100% of H.C. Stark Holding GmbH of Germany from Masan High-Tech in May. As part of the agreement, Masan High-Tech and H.C. Stark entered a long-term offtake agreement for the supply of tungsten intermediates, including ammonium tungstate and tungsten oxide (Masan High-Tech Materials Corp., 2025a, p. 22; 2025b).  

 

Production table

(Metric tons, gross weight, unless otherwise specified)


Table includes data available through August 12, 2025. All data are reported unless otherwise noted. Estimated data are rounded to no more than three significant digits. In addition to the commodities listed, refined antimony, barite, bentonite, chromite, refractory clay, ferroalloys, gemstones, granite, gypsum (synthetic), kaolin, marble, pyrite, pyrophyllite, silica, and vanadium chemicals may have been produced, but available information was inadequate to make reliable estimates of output.
Commodity 20202021202220232024
Alumina1,422,0001,394,0001,412,0001,489,0001,410,000
Antimony, mine, concentrates7806701,293544546
Antimony, mine, concentrates, 40% Sb, Sb content310e270e520e220e220e
Bauxite3,580,000e3,670,000e3,720,000e3,920,000e3,710,000e
Bismuth, mine, concentrates, Bi content9932,0671,9381,140380e
Cement, hydraulic112,283,000111,198,500111,252,00090,355,00090,826,000
Cobalt, mine, concentrates, Co content00277299195
Copper, mine, concentrates123,000136,000138,000119,582130,010
Copper, mine, concentrates, Cu content30,800e33,900e34,500e29,900e32,500e
Copper, refinery, primary, Cu content13,79118,21730,74229,17830,079
Copper, smelter, primary, Cu content14,000e18,500e31,000e29,500e30,000e
Fluorspar219,920215,027217,975146,000146,000e
Gold, mine, Au content (kilograms)550e600e1,143973852
Graphite, crystalline flake3,700e1,200e500e1,100e500e
Iron ore, mine3,560,0003,084,0001,807,0001,407,2001,351,700
Iron ore, mine, 53% Fe, Fe content1,890,0001,640,000958,000746,000716,000
Lead, mine, 60% Pb, Pb content13,900e16,600e21,000e22,100e20,400e
Lead, refinery, secondary34,00072,000e72,000e75,000e75,000e
Lime541,000e1600,000e1543,000e1508,000e1485,000e1
Manganese, mine, 43% Mn, Mn content120,000e146,000e155,000e102,000e126,000e
Manganese, mine, concentrates279,000e339,000e362,000e237,000e294,000e
Nitrogen, ammonia, N content1,000,000e1,220,000e1,390,000e1,360,000e1,440,000e
Phosphate rock, concentrates2,022,2002,713,2002,372,6002,621,1002,600,200
Phosphate rock, concentrates, P2O5 content607,000e814,000e712,000e786,000e780,000e
Pig iron12,500,00015,000,00012,374,00013,000,000e14,000,000e
Rare earths, mine, mineral concentrates, oxide content690e2440e21,200e2300e2300e2
Rare earths, mine, monazite concentrates1,200e2730e22,000e2510e2500e2
Raw steel19,900,00023,019,00020,004,00019,214,83322,070,000
Salt1,134,6001,208,100569,900641,700733,900
Sand and gravel, construction, gravel, including pebbles2,509,0003,529,0006,157,0003,992,0002,880,000
Sand and gravel, construction, sand66,106,00054,673,00069,140,00062,380,00066,020,000
Silver, mine, Ag content (kilograms)5556701,4511,7442,133
Steel products, rolled31,280,00031,590,00026,619,00024,686,00026,443,000
Stone, crushed, unspecified214,472,000269,400,000260,800,000262,600,000268,800,000
Tin, mine, Sn content5,400e5,400e6,100e7,600e11,300e
Tin, smelter, primary, Sn content4,600e4,600e5,200e6,500e9,700e
Titanium, concentrates, ilmenite and leucoxene268,8001300,0001300,4001213,6001157,2001
Tungsten, mine, concentrates, W content4,2254,8004,0003,5003,360
Zinc, mine, Zn content12,000e12,000e13,000e11,500e11,900e
Zinc, smelter, primary10,000e10,000e10,000e8,8009,159
Zirconium, concentrates11,000e331,000e318,000e317,000e326,000e3
e Estimated.
1 Partner countries' imports from Vietnam.
2 China's imports from Vietnam.
3 Estimated figures based on Vietnam inferred exports of zirconium ore to China.

 

References Cited 


  • Cordier, D.J., 2025, Rare earths: U.S. Geological Survey Mineral Commodity Summaries 2025, p. 144–145. 
  • Hartingh, A.M., 2025, Tungsten: U.S. Geological Survey Mineral Commodity Summaries 2025, p. 190–191. 
  • Hatfield, A.K., 2026, Cement: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 62–63. 
  • Johnston, S.N., 2026, Rare earths: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 152–153. 
  • Londono, Vanessa, 2026, Fluorspar: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 80–81.  
  • Merrill, A.M., 2025, Bauxite and alumina: U.S. Geological Survey Mineral Commodity Summaries 2025, p. 42–43. 
  • Merrill, A.M., 2026, Bauxite and alumina: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 50–51. 
  • Ministry of Natural Resources and Environment, 2003, Stipulating functions, duties, powers and organisational structure of the Department of Geology and Minerals of Vietnam: Ho Chi Min City, Vietnam, Ministry of Natural Resources and Environment, January 9. (Accessed December 17, 2025, at https://idm.gov.vn/nguon_luc/Xuat_ban/Anpham/LuatKS/L201.HTM.) 
  • Prime Minister of Vietnam, The, 2023, [Decision—Approving the master plan on mineral exploration, mining, processing and use for the 2021–2023 period, with a vision toward 2050]: Hanoi, Vietnam, The Prime Minister of Vietnam, July 18, 50 p. (Accessed December 3, 2025, at https://web.archive.org/web/20240802105350/https://static.luatvietnam.v….) [In Vietnamese.] 
  • Prime Minister of Vietnam, The, 2024, Decision—Promulgating plan implementation of planning for exploration, exploitation, processing, and use of minerals for 2021–2023 period with a vision by 2025: Hanoi, Vietnam, The Prime Minister of Vietnam, April 23. (Accessed November 25, 2025, at https://thuvienphapluat.vn/van-ban/EN/Tai-nguyen-Moi-truong/Decision-33….) 
  • Saloum, S.H., 2026, Tungsten: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 200–201. 
  • Stewart, A.A., 2025, Graphite (natural): U.S. Geological Survey Mineral Commodity Summaries 2025, p. 84–85. 
  • Stewart, A.A., 2026, Graphite (natural): U.S. Geological Survey Mineral Commodity Summaries 2026, p. 92–93. 
  • Tuck, C.C., 2026, Iron and steel: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 102–103. 

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