Vietnam’s Hidden Treasure: A Central Province Holds 80% of a Global Coveted Resource Beyond Rare Earths

According to the latest report from the United States Geological Survey (USGS), Vietnam holds approximately 3.5 million tons of rare earth reserves. Rare earth elements are invaluable resources essential for producing critical materials used in high-tech products such as electronics, lasers, superconductors, phosphors, catalysts, photovoltaic cells, and medical devices. Notably, rare earths play a pivotal role in manufacturing key components of electric vehicles, including batteries and electric motors.

In addition to rare earths, nickel is another treasure trove extensively utilized in the technology sector, particularly in the production of electric vehicle batteries. Nickel is a silvery-white metal with a glossy surface, ranking among the most sought-after resources globally.

The USGS estimates global nickel reserves at over 350 million tons. Indonesia leads with the largest reserves, approximately 55 million tons, followed by Australia with 24 million tons.

In Vietnam, the Institute of Mining Science and Technology (under the Ministry of Industry and Trade) estimates the country’s total nickel reserves and resources at around 3.6 million tons. Thanh Hóa province holds the largest share, with over 3 million tons, followed by Sơn La (420,523 tons) and Cao Bằng (133,677 tons).

Much of Vietnam’s nickel resources exist as accompanying minerals in chromite ores, such as in the Cổ Định chromite mine (Thanh Hóa), where effective recovery solutions are still lacking. Nickel ores in Sơn La and Cao Bằng are primarily of the nickel-copper disseminated type.

In 2018, the Prime Minister approved the Master Plan for Exploration, Exploitation, Processing, and Use of Gold, Copper, Nickel, and Molybdenum Ores by 2025, with a vision to 2035. This plan outlines a clear direction for nickel mineral development.

By 2025, the target is to achieve a nickel concentrate production capacity of 118,000 tons. During this period, two nickel product manufacturing plants with a combined output of 8,000–11,000 tons per year are expected to be operational.

Under the Master Plan for Mineral Exploration, Exploitation, Processing, and Utilization for 2021–2030, with a vision to 2050, enterprises licensed to mine strategic minerals with large reserves, such as nickel, bauxite, titanium, rare earths, chromite, copper, and gold, must possess sufficient capacity and invest in advanced processing projects. These projects must employ cutting-edge technology, modern equipment, and sustainable environmental protection measures.

Simultaneously, there is a push to limit and eventually halt the exploitation of small, scattered, and low-reserve mines. The focus is on consolidating small-scale mineral resources into larger clusters to enable comprehensive investment in exploration, mining, and processing using advanced technology and modern equipment.

According to the Information and Statistics Department (Ministry of Science and Technology), as technology advances and the demand for nickel concentrate rises, ensuring product quality to meet global deep-processing standards is imperative. However, as of 2021, Vietnam still lacks specific national standards for nickel concentrate in general and nickel sulfide concentrate in particular.

Meanwhile, nickel mining and processing companies such as Ban Phuc Nickel Mine LLC (Sơn La), operational since 2013, and Tan Phat Mineral JSC (Cao Bằng), currently constructing its plant, are among the nation’s largest nickel sulfide reserves.

Therefore, establishing national quality standards for nickel concentrate is essential. These standards will not only regulate mineral processing activities but also set technical specifications for product classification and evaluation.

This initiative will enhance the quality and efficiency of nickel sulfide concentrate products, providing enterprises with a foundation for production planning, technology selection, and equipment modernization. Ultimately, it will optimize the utilization of nickel and associated mineral resources.