Thailand
Vietnam: Growth of mining industry drops
Vietnam: Growth of mining industry drops
Monday, 8 August 2016 – The local mining industry saw a decline in production growth in the first seven months of this year, which is likely to extend to the end of the year, said the General Statistics Office (GSO).
Ph?m ?ình Thúy of the GSO’s Industrial Statistics Department said the local mining industry’s production growth is predicted to drop by 9 per cent in the second half of this year.
The office said the mining industry’s production growth declined 2.9 per cent compared to the same period in 2015 because the price of ore, coal and crude oil on the world market had also dropped, while production costs remained high.
The An Thông Mining Investment Joint Stock Company, a subsidiary of Hòa Phát Group, gave back two iron ore mines to the Government after world prices of iron ore dropped 30 to 50 per cent compared to early 2014. Read More?