A country that is known to be full of life, vibrant energy, and profound exquisiteness Vietnam has seen itself earn a seat among the best countries globally. Vietnam minerals have also played a key role in the countrys growth.
Stuck in the heart of South Asia, Vietnam has an abundant flow of natural resources that, as a result, see its citizens being spoilt for choice when it comes to employment opportunities. Among the five primary natural resources include coal, bauxite, oil, petroleum, and gas. The mining activities overseen by the country’s Ministry of Natural resources and Environment has mostly contributed to it’s Gross Domestic Product’s (GDP) over the years.
The war in Vietnam prevented these resources from being fully exploited. However, the government, in alliance with countries like Japan, is seeking to realize the full potential of these resources. Let us take a closer look at each of them.
Research shows that Vietnam is home to the third-largest amount of Bauxite ore in the world. Mainly found in Tay Nguyen, Bauxite is responsible for the production of aluminum. Although Vietnam has these vast amounts of the ore, it produced only an approximate 30,000 tons. However, this has progressed impressively thanks to the implementation of mining plans drafted by the government.
Vietnam now produces 600,000 tons of Bauxite annually in its two stations at Dak Nong and Lam Dong provinces.
Coal is one of the most available among Vietnams mineral resources. Home to almost 43,715 million tons of coal, the country mainly used it in domestic power plants. It also exported it to the countries within the Asia Pacific region. The country had been lagging in terms of exploiting coal fully. It is this that led to the drafting of a plan that would see the 1, 351 square miles of coal at the Red River Delta exploited.
The implementation of this plan has seen over 31% of the employed population working in the quarrying and mining section.
3. Oil and gas
Known as one of, if not the largest producer of oil and gas, Vietnam has seen itself thrive with these resources. Producing more crude oil and natural gas each passing year, Vietnam has attracted foreigners to begin engaging in the business of exporting these resources. As a result, the Vietnamese government has acquired revenue of over $22 million annually.
Being the center of commercial energy in Vietnam, petroleum accounts for over a quarter of the percentage of the energy used in the country. This natural resource is exported in the form of crude oil due to the deficiency in the refining capacity. It’s located in Cat Hai near Ho Chi Minh city. Over the years, the government has set out to improve the amount of crude oil production. Vietnam can now produce 44 billion barrels of crude petroleum compared to the 0.4 billion barrels produced before.
These minerals are widespread in Vietnam, especially the Northern part of the country. There are nearly 400 deposits and occurrences. Out of all these, 50 of them have already been investigated.
Most of these are of hydrothermal, skarn and weathering geneses. The skarn type found in the
carbonate terrigenous formations across the Northern part of the country is the most important.
In conclusion, mineral resources have catapulted Vietnams economy to great success. With increasing revenue each year due to the rising level of job opportunities in the mining and quarrying sector, Vietnam can comfortably see that it has provided a little heaven on earth for its citizens.