resources
The Resources category covers natural resource management, extraction, and trade. It explores commodity pricing, environmental policies, investment in resource industries, and supply chain developments, providing insights into economic impact, sustainability, and foreign investment.
Vietnam rare-earths war heats up with Chinese SOE throwing hat in mix
Of note, the US Geological Survey’s Mineral Commodity Summaries 2024 estimated Vietnam’s rare earth reserves to be in the vicinity of 22 million tons. China, which has the largest reserves, for comparison, is estimated to have double that at 44 million tons, and Brazil which comes in third place has roughly 21 million tons…
Vietnam on track to become world’s fifth-biggest coal importer
The International Energy Association Coal Mid-Year Update 2024 has found that Vietnam is on track to become the fifth biggest importer of coal in the world. Vietnam’s coal imports were up 38.6 percent in terms of volume and 14.5 percent in terms of value by the end of June…
Korea, US partnership on rare earths to boost industry in Vietnam
Of note, the US Geological Survey’s Mineral Commodity Summaries 2024 estimated Vietnam’s rare earth reserves to be in the vicinity of 22 million tons. China, which has the largest reserves, for comparison, is estimated to have double that at 44 million tons, and Brazil which comes in third place has roughly 21 million tons. But having all of these reserves is one thing, getting them out of the ground is quite another…
Vietnam gold price jumps about 4 percent in one day
This is in line with the market moving to its own beat, often much higher than the world gold price, on the back of regulations that severely limit the importation of gold yet a culture that sees gold as an important store of wealth. This, coupled with challenging economic conditions, has fueled demand with the State Bank, reluctant to allow the import of more gold in the event it might put greater pressure on the local currency. Instead it has taken to selling gold from its own reserves to deflate the gold bar price…
Gold ring prices surpass gold bar prices in Vietnam
Of note, State Bank gold bars were previously being sold through four majority state-owned banks, at well below market price, with huge queues of customers looking to buy up the cheap State Bank gold. This has since moved online and now that demand is much less visible. That said, the rising price of gold rings could suggest there may be a supply side issue with respect to gold bars…
Vietnam banks sell gold online to relieve pressure on site, demand surges
This move, however, may have inadvertently facilitated a spike in demand giving people who don’t have the time to wait in queues at banks a more efficient means to buy the relatively cheap gold on offer. Of note, Agribank reported that at one point there were 50,000 attempts to register to buy gold at one time through its online portal…
Claims Vietnam to allow gold imports later this year rebuffed
There was a similar situation last month whereby Reuters reported that the state power provider had asked a key Apple supplier to reduce its power consumption, however, the state power provider later came out and said this wasn’t accurate. It should be noted that government ministries and departments and state-owned enterprises generally do not respond to requests for comment from foreign media. With this in mind, a simple solution might be to reform this practice.
Increased dependence on thermal power spurs Vietnam coal imports increase in May
Of note, the price it is paying to its key suppliers has varied widely over the first five months of the year. Its most expensive coal imports have come from China averaging US$302 per ton versus its cheapest coal imports from Laos which have cost US$68 a ton by the same metric. On average, it has paid US$166 per ton…
Reports Vietnam will allow gold imports before the end of the year
If this is accurate, this would signal an interesting turn of events. To be clear, the State Bank took control over gold imports and exports to stabilise the local currency when inflation surged back in 2011. At the time, gold was being used as a store of wealth to hedge against inflation and banks were permitted to lend and borrow against the yellow metal which was pushing up demand (incidentally this practice was banned in 2012, too). This was increasing demand for US dollars to import more gold and subsequently putting inflationary pressure on the local currency…
State Bank of Vietnam says there is no shortage of gold
This comes in the context of a rush to buy gold in Vietnam after the State Bank announced it would start selling gold from its reserves at well-below market prices to try and close the gap between local and world gold prices. Previously, the State Bank had tried to auction off its gold to several gold companies and financial institutions but the price was set relatively high and interest from these institutions was lacklustre at best…
Vietnam will not export rare earths to encourage local industry development
With the huge demand for rare earth minerals and the ongoing geopolitical tensions between the world’s biggest rare earths producer, China, and the world’s biggest rare earths consumers the US, Vietnam has the attention of rare earth miners and processors the world over. A clear direction forward, however, is still somewhat elusive but there has been a lot of movement in the industry over the last twelve months.
Vietnam’s new gold price strategy sparks rush to buy cheap gold
Previously, the State Bank had tried to auction off its gold to several gold companies and financial institutions but the price was set relatively high and interest from these institutions was lacklustre at best. Of note, a number of gold shops ran out of gold bars yesterday, some reportedly in just one hour. With little utility in general, and even less for consumers, it looks very much like these gold purchases are for investment purposes.
Vietnam gold price plummets on new State Bank price strategy
Gold was trading at US$2,684.20 per troy ounce in Vietnam on Saturday. Conversely, on the world market gold trading at US$2,327.36. The difference of US$356.84 or 13.29 percent is markedly lower than it was earlier this year when gold in Vietnam topped US$2,910.58 per troy ounce which was, at the time, about 20 percent higher than the world gold price.
Vietnam gold auction alternative unveiled, SBV to supply gold through banks
This decision came about after a series of gold auctions, in which 47,000 taels of gold were sold to an assortment of banks and gold retailers failed to impact the local gold price to the extent the SBV had hoped…
Vietnam’s C.bank to abandon gold auctions in favour of ‘new strategy’
On the one hand, the State Bank wants to bring down the price of gold which is much higher than the world gold price because there is more demand than there is supply. On the other hand, the State Bank doesn’t want US dollars leaving the country because this creates inflationary pressure on the dong. If it sounds like these policies are contradictory then that is because they are…
South Korean firm announces Vietnam rare earth partnership
This announcement seems like a positive step forward but there seems to be a lot of moving parts when it comes to rare earth mining in Vietnam and this press release seems a little too clean-cut. For example, there were a…
Hanoi university signs agreement with Australian mining firms
With reserves estimated to be the second biggest in the world after China, and rare earth minerals becoming increasingly necessary in a slew of electronics, miners from all over have been actively courting partnerships with Vietnamese mining firms. Needless to say, partnerships with local universities is one way for these firms to open doors…
Vietnam’s C.Bank manages to move 8,100 taels of gold at latest gold auction
This latest development is a vast improvement with a series of past gold auctions selling only a few thousand gold bars or being cancelled altogether due to lack of interest. The change of circumstances is likely due to changes to this gold auction that saw the minimum order significantly reduced.
Vietnam’s Rare Earth Partnership Contenders: Unpacked
For a brief month or two last year, Vietnam’s rare earth reserves were a hot commodity (pun intended). This was on the back of a whirlwind visit to Hanoi by the President of the United States, Joseph Biden, during which he announced the US would support Vietnam with mapping its
Vietnam’s gold auction rules change but still not a great investment
The State Bank of Vietnam is still trying to auction off gold to bring down the gold price, despite several failed auctions amid an overheated gold market. This latest gold auction has 16,800 taels of gold up for grabs in lots of 500 taels down from 700 in past auctions,
In today’s Vietnam news: Vietnam Airlines trading restrictions removed, Insurance payouts VSS, Car sales June, 23+ years prison term recommended counterfeit supplements, Counterfeit shoes
In today’s Vietnam news: Government to inject cash into Agribank, IMF growth forecast raised, German industrial gas plant investment, VN garment maker Amazon legal
In today’s Vietnam news: Construction labour demand impacting garment industry, ADB growth forecasts, Bloomberg survey GDP growth expectations, Starlink orders open, Seafood industry call
This is an interview with Chris Walker, a Vietnam Sourcing Expert with Vietnam Factory Tours how rising oil prices and the Middle East crisis are
This is an interview with John Gardner, CEO and Founding Partner, at Optimum Hospitality in Ho Chi Minh City. It covers fuel price impacts on:
This is an interview with Dr Nuno F. Ribeiro, Associate Professor, International Tourism & Hospitality Management at Copenhagen Business College, formerly of RMIT Vietnam. It