Vietnam has a number of large-capacity gold mining enterprises, including TKV - Vimico Minerals Corporation (KSV). KSV mines about 1 ton of gold/year and has a profit of VND1,275 billion in 2024.

Specifically, KSV will exploit 1,143 kg of gold in 2022, 973 kg in 2023, 852 kg in 2024 and plans to exploit 911 kg in 2025, 1,020 kg in 2026...

According to the plan, in the period of 2026-2030, Vimico plans to produce a total of 4,777 kg of gold, equivalent to more than 955 kg/year.

According to the audited consolidated financial statements for the 2024 fiscal year, TKV Minerals Corporation recorded revenue of VND13,288 billion, up from VND11,926 billion in 2023, and after-tax profit of VND1,219 billion, compared to VND189.5 billion in the previous year.

With its current output, Vimico is the largest gold mining and production company in Vietnam. This member company of the Vietnam National Coal and Mineral Industries Group (Vinacomin) is managing and exploiting Dong Pao - the rare earth mine with the largest reserves in the country, covering an area of ​​nearly 133 hectares in Lai Chau province.

KSV shares are currently priced at around VND188,000/share, a sharp increase from VND100,000 at the beginning of the year, but much lower than the peak of VND300,000/share on February 17.

gold mining
Vimico's business results in 2024.

Besides KSV, Lao Cai Gold JSC (GLC) is also a well-known gold mining enterprise in Vietnam. However, this enterprise has encountered difficulties in business operations and witnessed changes in its senior leadership. For 3 consecutive years, from 2020 to 2023, GLC continuously recorded 0 VND in revenue.

Lao Cai Gold mines, selects and refines gold from Minh Luong gold mine, Van Ban, Lao Cai. The company is allowed to exploit gold ore and the entire amount mined is sold to TKV Minerals Corporation to produce gold for consumption on the market.

However, in recent years, GLC's revenue has been zero because its gold mining license expired in April 2019, so the company has temporarily stopped mining.

By the end of 2023, GLC was still in the process of applying for a mining license but had not yet been approved. Short-term debt exceeded short-term assets by more than VND22 billion, with accumulated losses of more than VND113 billion.

GLC was established in September 2007 in Minh Luong commune, Van Ban district, Lao Cai province, with initial charter capital of 45 billion VND, with 5 shareholders: Vinacomin Mineral Corporation (now TKV Mineral Corporation - JSC) with 33%, State-owned Mineral One Member Limited Liability Company 3 (now Vimico Mineral Joint Stock Company 3) 27%, Lao Cai Mineral Company (15%); Thai Nguyen Company Limited (15%) and Dong Bac Company (10%).

At the end of 2018, TKV still held 46.14%, Minerals JSC 3 - Vimico 21.71%; Mr. Uong Huy Giang 8.65%; Minerals LLC - Bitexco 6.43%; Indochina Minerals JSC 6.33%.

By the end of January 2019, after GLC was listed, TKV divested all capital.

At that time, most of the company's old employees quit their jobs, forcing the new investor to reorganize the organization.

According to the report, GLC has geological reserves of 92,670 tons of ore, exploitable reserves of 89,702 tons of gold ore, permitted exploitation capacity of 22,000 tons (2016), 28,000 tons (2017-2018), 11,702 tons (2019); exploitation license expires on April 26, 2019.

Recently, GLC has focused its resources on continuing to complete legal procedures to apply for an extension of its Investment Certificate and Mining License. This has caused operating costs to continuously increase while revenue from production and business activities is almost zero.

Gold price today April 1, 2025 increases steadily, SJC and rings reach new peaks every day . Gold price today April 1, 2025 on the international market continues to increase to a new record before the day President Donald Trump's administration imposes taxes. SJC gold and rings exceed 102 million VND/tael.

Source: https://vietnamnet.vn/vang-lien-tuc-tang-phi-ma-doanh-nghiep-khai-thac-vang-lam-an-ra-sao-2386276.html