Nui Phao Mining project begins operation by the end of April

April 24, 2013 | 16:07
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Nui Phao Mining and mineral processing Company Limited (Masan Resources company, a subsidiary of Masan Group) has announced that the first product will be in the market by the end of this April.

Nui Phao Company send experts to train local people new job growing mushrooms for sale (Photo: SGGP)

The project began since 2004, when the Ministry of Planning and Investment issued the license to Tiberon Minerals Company.

As per the license, the company is permitted to hire the land area of four communes of Dai Tu district, Thai Nguyen province in 30 years.

Up till now, nine years have passed. However, the project really came into operation since it was transferred to Masan Group in 2012 with a new license for hiring land in 16 years since 2013 at two communes Ha Thuong and Hung Son, Dai Tu district.

Nui Phao Mining and mineral processing Company Limited so far has spent about VND 6.5 trillion to do the compensation for site clearance, initial investment and implementation of social security sub-projects.

VND 1.2 trillion was spent for compensation, supporting local residents who were affected by the mining project to find their new means of earning a living.

As a result, by Dec 2012, the Company had completed the acquisition over 98% of the land required for the Nui Phao project through land compensation agreements with 2,700 households.

It is expected that in the first year after the project putting into operation, Nui Phao company will export minerals worth US$ 100 million, creating over 3,000 jobs.

The company was also pledged to invest new techniques in processing minerals since 2014 to raise the value of exports, to protect environmental remediation and social security.

So far, more than 2,200 people in the area affected by the project have been trained, equipped with working knowledge of livestock and agricultural techniques, thus enable them to access new opportunities to find new jobs to earn their livings.


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