Revenue from bauxite projects far lower than expected

Last update 12:00 | 31/08/2017
VietNamNet Bridge – As warned by experts, the revenue from Nhan Co and Tan Rai bauxite projects has been disappointing.vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news, Nhan Co, Tan Rai, bauxite

Dau Tu cited Dak Nong provincial authorities as reporting that the Nhan Co alumina plant was expected to pay VND437.761 billion in tax every year from 2016 when the plant began operation.

However, according to the Dak Nong provincial taxation agency, the total tax estimated to be collected from the plant in 2017 is just VND107.39 billion, or VND330 billion lower than expected. Tiếp tục đọc “Revenue from bauxite projects far lower than expected”

Developer remains upbeat as Vietnam’s bauxite project logs $165mn loss

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Báo Tuổi Trẻ English2 day(s) ago 4 readings

A bauxite megaproject in Vietnam’s Central Highlands has been making losses totaling VND3,696 billion (US$165 million) in the last three years, but the developer is unconcerned, believing that it will start generating profits in 2017.

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A bauxite megaproject in Vietnam’s Central Highlands has been making losses totaling VND3,696 billion (US$165 million) in the last three years, but the developer is unconcerned, believing that it will start generating profits in 2017.

Vietnam currently has two major bauxite mining projects, Nhan Co in Dak Nong Province and Tan Rai in Lam Dong Province, both developed by Vinacomin, the country’s state-run coal and minerals giant.

Bauxite, an aluminum ore, is the world’s main source of aluminum.

Nguyen Van Bien, Vinacomin’s deputy general director, confirmed to Tuoi Tre (Youth) newspaper that the Tan Rai bauxite plant has been operating at a loss. Tiếp tục đọc “Developer remains upbeat as Vietnam’s bauxite project logs $165mn loss”