Prime minister signed a decision 124/2006/QD-TTg on May 30 approving the project of exploring, exploiting, processing and using iron ores until 2010 and orientations to 2020.
Under it, to meet the domestic iron demand for steel refinery, cement industry and industrial export, Vietnam will carry out exploration and exploitation in 14 deposits from now to 2020.
Exploring 26 areas in nine provinces including Lao Cai with six deposits , Yen Bai 4, Ha Giang 2, Tuyen Quang 2, Cao Bang 3, Bac Kan 4, Thai Nguyen 2, Thanh Hoa 2, and Ha Tinh 1.
As estimated, mining production capacity by 2010 will reach nine million tonnes of iron ore per year, in the period of 2011-2015 be 14-15 million tonnes a year.
The capital for exploration is estimated about 60 billion dong mobilised from many investors, for mining 6.9 trillion dong.