According to local media reports, Vietnam is moving to revive the long-delayed Thach Khe iron ore project, with Deputy Prime Minister Trần Hồng Hà reportedly issuing urgent instructions aimed at resolving outstanding issues surrounding the development of what is considered Southeast Asia’s largest iron ore deposit.
At the same time, Vietnam-based steelmaker Hoa Phat Group is continuing efforts to secure participation in the project as part of its long-term raw material strategy.
The Thach Khe mine, located in Hà Tĩnh Province, is estimated to contain hundreds of millions of mt of iron ore reserves and has long been viewed as a strategically important project for Vietnam’s steel industry.
However, the project has faced years of delays due to:
- environmental concerns,
- financing difficulties,
- infrastructure requirements,
- disagreements over development plans.
Vietnamese government pushes for resolution
The government has instructed relevant ministries and authorities to urgently review and resolve issues related to the project. The latest directives aim to assess technical feasibility, review environmental impacts, and determine an appropriate development roadmap for the mine.
The project has remained largely inactive for years despite its strategic significance.
Hoa Phat seeks secure raw material supply
Hoa Phat Group has repeatedly expressed interest in participating in the project to strengthen its long-term iron ore supply security. The company continues expanding its steelmaking capacity and has increasingly focused on securing upstream raw material sources.
For Hoa Phat Group, participation in the project could become an important element of its long-term expansion and competitiveness strategy.