GMP lifts curtain on ambitions

October 08, 2012 | 13:53

(0) user say

GeoProMining Group, with a portfolio of mining projects in Russia, has expressed its interest in developing an industrial zone specialised for titanium processing in central coastal Binh Thuan province.

This was revealed in a recent meeting between the local government and Siman Povarenkin, chairman of GeoProMining Asia.

Le Tien Phuong, Deputy Chairman of Binh Thuan Provinical People’s Committee told VIR that the province had offered the Russian group to take part in developing either Song Binh or Thang Ha industrial park, which would accommodate large-scale titanium processing facilities.

Phuong said both the industrial parks, expected to the largest in Vietnam, would become operational by 2015.

According to Binh Thuan Provincial Department of Industry and Trade, developers behind 17 titanium processing projects registered to be located in Song Binh, such as the $350 million project by GeoProMining Group, the $650 million project by domestic Binh Minh Ex-Import, the $620 million project by Hanoi Technology and the $130 million project by Him Lam Minerals.

Previously, the Vietnamese government approved state-run Vinacomin’s proposal to terminate a cooperation agreement with GeoProMining to jointly build Vietnam’s second copper smelter plant with the estimated annual capacity of 50,000 tonnes in northern Quang Ninh province.