Viet Nam's titanium miners to work closer together

Monday, Aug 12, 2013 09:35

HA NOI (Biz Hub)— The Vietnam Titanium Association will push for closer co-operation between its members. One proposal is that the products of one company be used as the inputs for another. Under the association's target, by 2020, its members will focus on investing in processing and large-scale projects.

The association reported during its annual meeting on Saturday, that the titanium industry had developed dramatically and now has the capacity to produce 1.2 million tonnes of titanium ore per year. Viet Nam's titanium reserves could amount to 440 million tonnes and currently 89 mines are operating around the country.

During the first six months of this year, the association's 44 members exported $85 million and contributed VND300 billion ($14.1 million) to the State budget.—VNS

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