According to the Binh Phuoc provincial portal, in the afternoon of June 4th, the Department of Industry and Trade chaired a meeting to appraise the feasibility report of the investment project for constructing the Binh Phuoc Bauxite Mining and Ore Dressing Project, which belongs to the Bauxite Mining, Ore Dressing, and Aluminum Production Complex, with the investor being Binh Phuoc Ore Dressing Joint Stock Company.
The project is located in the Thong Nhat bauxite mine, covering an area of 349.92 km2, spanning across 9 communes in Bu Dang district, Phuoc Tin commune (Phuoc Long town), and Tan Phuoc commune (Dong Phu district).
The Tho Son bauxite mine has an area of 163.6 km2, with its center located 10 km from Duc Phong town. It borders the Dao Nghia mine (Dak Nong province) to the east, Lam Dong province’s mine to the south, and the Thong Nhat mine to the southwest.
The total geological reserve of the mine is estimated at 497.7 million tons of raw ore, equivalent to over 200.5 million tons of refined ore.
The Binh Phuoc Bauxite Mining and Ore Dressing Project is implemented to provide raw materials for three ore dressing plants in two mines, with an operational duration of over 30 years and an annual capacity of 2 million tons.
The total investment capital amounts to VND 22,780 billion, including VND 6,834 billion (USD 273.36 million) from the investor and VND 15,946 billion (USD 637.84 million) mobilized from other sources.
The construction roadmap is expected to span over 5 years. Specifically, the first chain is planned to commence in the second quarter of 2026 and be completed by the first quarter of 2030, while the second chain will operate from the second quarter of 2029 and be finalized by the fourth quarter of 2031.
The project aligns with the Master Plan for Exploration, Mining, Processing, and Utilization of Minerals for the period of 2021-2030, with a vision towards 2050, which has been approved by the Prime Minister. Once operational, the project is expected to create regular jobs for approximately 1,200 laborers.
The project’s feasibility report has received 85 comments and suggestions from experts, specialized consultants, relevant departments, and the People’s Committees of the project-affected districts in the province.
Regarding the identity of the chosen investor, according to our understanding, Binh Phuoc Ore Dressing Joint Stock Company was formerly known as A.V B.P Joint Stock Company, established on December 9, 2008, and headquartered in Phu Tan ward, Tan Phu ward, Dong Xoai town, Binh Phuoc province.
At its inception, the company had three major founding shareholders: A.V Joint Stock Company contributing VND 310 billion (holding 62% of the shares), Vietnam-Japan Mineral Processing Co., Ltd. contributing VND 40 billion (holding 8% of the shares), and an individual contributing VND 150 billion (holding 30% of the shares).
In April 2024, the company transformed into Binh Phuoc Ore Dressing Joint Stock Company. At this time, the legal representative and General Director changed to Mr. Phan Thanh Nam, born in 1977.
In September 2024, the company increased its charter capital from VND 500 billion to VND 5,500 billion. The contributing shareholders were not mentioned. Just a month later, the company again raised its charter capital to VND 7,005 billion.
The latest update as of October 17, 2024, states that the company has a charter capital of VND 7,989 billion.
Binh Phuoc Ore Dressing Joint Stock Company has also undergone several changes in legal representatives.
Previously, Mr. Cat Quang Vinh (born in 1973) served as the General Director and legal representative. In early 2014, Mr. Vinh transferred his position to Mr. Nguyen Duy Thai Duong (born in 1973).
Subsequently, Mr. Nguyen Duy Thai Duong served as the General Director and legal representative of the company until nearly the end of 2023, when he handed over the position to Mr. Phan Thanh Nam.
In addition to his role at Binh Phuoc Ore Dressing Joint Stock Company, Mr. Phan Thanh Nam also holds the position of legal representative of Dai Phuc Mineral Joint Stock Company – a company established on January 14, 2022, headquartered in An Vien coastal urban area, Vinh Tuong ward, Nha Trang city, Khanh Hoa province.
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