A company under TKV plans to produce nearly 5,500kg of gold amid price fever

TKV Minerals Corporation (KSV) is a subsidiary of the Vietnam National Coal and Mineral Industries Group (Vinacomin). KSV aims to produce nearly 5.5 tons of gold from this year to 2030.

Gold prices continuously set new records - Photo: WGC

In the document just sent to serve the 2025 shareholders' meeting taking place on April 22, KSV reported on the production and business situation, mineral exploitation 2024 and the next 5 years.

Specifically, according to the report, KSV's total consolidated revenue in 2024 reached VND 13,277 billion, exceeding the annual plan. Pre-tax profit reached VND 1,565 billion, more than 5 times higher than the plan and nearly 5.8 times higher than the result in 2023.

In a more detailed shareholder report, KSV said that last year it produced 73,741 tons of copper ore, 30,079 tons of copper cathode, more than 200,000 tons of iron ore, 9,159 tons of zinc ingots, 845kg of gold ingots, 2,113kg of silver...

In 2025, KSV presented shareholders with a revenue target of VND 12,619 billion and a profit of VND 1,000 billion. After a "prosperous" year, surprisingly both business targets declined compared to last year's results.

At the same time, most of KSV's mineral production targets decreased compared to 2024. In particular, the enterprise plans to produce 60,716 tons of copper concentrate, 30,000 tons of copper plates, 173,681 tons of iron concentrate, 806 kg of gold...

KSV's board of directors said that technical conditions for mining are increasingly difficult, resources are fluctuating with a trend of decreasing raw ore content compared to geological documents, some mines have to temporarily stop production to adjust projects... Dong Pao rare earth mine has not yet selected technology and cooperation partners, KSV said.

Not only giving a plan for this year, KSV also reported to shareholders the business orientation for the period 2026 - 2030 with the target of consolidated revenue for the above period reaching 68,815 billion VND and pre-tax profit of 3,626 billion VND.

The company also detailed targets for mining, production, and consumption of major minerals for the next five years. For gold alone, KSV set a target of producing 4,682 kg of gold.

Including this year's plan, this mineral enterprise is estimated to produce nearly 5,500 kg of gold, equivalent to 5.5 tons in 6 years (2025 - 2030).

Presently world gold price rose to a new peak of 3,148 USD/ounce, pushing the domestic gold price to nearly 103 million VND/tael - a record high ever.

Vinacomin holds 98.06% of capital of gold mining enterprise

TKV Minerals Corporation is a member of the Vietnam National Coal and Mineral Industries Group (Vinacomin). Vinacomin holds 98.06% of KSV's capital, according to the company's 2023 annual report.

On the website, KSV introduced that it was born on the basis of merging Vietnam Rare Minerals Corporation and Mineral Development Corporation.

In 2003, the General Corporation of Gems and Gold merged into KSV. In 2010, the Ministry of Industry and Trade decided to convert the General Corporation of Minerals - TKV to operate as a single-member LLC and had a new name: General Corporation of Minerals - Vinacomin.

Four years later, the parent company - Vinacomin Minerals Corporation received the decision to equitize. By October 2015, the enterprise operated under the model of a joint stock company and had a new name: TKV Minerals Corporation.

This enterprise specializes in mining, refining, processing, and manufacturing non-ferrous and rare metals such as copper, zinc, lead, gold, silver, etc. Currently, KSV is also managing and exploiting Dong Pao mine - the rare earth mine with the largest reserves in the country.

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