Vietnam’s mining industry is a vital sector of the country’s economy, contributing significantly to its GDP and export revenues.
As of 2026, the industry is characterised by a diverse range of mineral resources, including coal, iron ore, bauxite, and various precious and industrial minerals.
In recent years, Vietnam has sought to attract foreign investment in its mining sector to boost efficiency and technological advancement.
Joint ventures and partnerships with international firms are increasingly common, allowing for the transfer of expertise and best practices.
This strategy not only aims to bolster domestic production but also to position Vietnam as a competitive player in the global minerals market.
Looking ahead, the mining industry in Vietnam faces challenges such as fluctuating global commodity prices and environmental concerns.
That said, as Vietnam continues to develop its mining capabilities, the sector is expected to play a crucial role in the country’s economic development while addressing sustainability and environmental impact.
Vietnam’s mining industry in numbers
Vietnam’s mining industry contributed US$11.46 billion to Vietnam’s GDP in 2024.
This was up from US$10.28 billion in 2023.
Mining in Vietnam contribution to GDP
| 2022 | 2023 | 2024 | ||||
| VND | US$ | VND | US$ | VND | US$ | |
| GDP | 9,548,738 | $388.0 | 10,221,815 | $415.4 | 11,511,867 | $459.0 |
| Mining | 279,818 | $11.37 | 253,062 | $10.28 | 287,334 | $11.46 |
| % of GDP | 2.93% | 2.93% | 2.48% | 2.48% | 2.50% | 2.50% |
Source: GSO International Monetary Fund’s DSBB
Vietnam mine production
| December | 2025 | Dec 25 / 24 | 2025 / 2024 | |
| Coal (tons/000s) | 3987.9 | 45714.0 | 100.5 | 102.5 |
| Crude oil (tons/000s) | 703.8 | 8172.1 | 101.8 | 100.5 |
| Natural gas (m3) | 570.4 | 5993.7 | 99.7 | 94.4 |
| Liquefied petroleum gas (tons/000s) | 82.9 | 830.7 | 107.1 | 107.4 |
| Gasoline and oil (tons/000s) | 855.0 | 17084.1 | 116.1 | 105.6 |
| Aluminium (tons/000s) | 127.8 | 1488.2 | 126.3 | 104.4 |
Source: General Office of Statistics
Vietnam mined exports
Source: Vietnam Exports Tracker
Vietnam-listed mining company revenue
| 2022 | 2023 | 2024 | 2025 | |
| Total | 1,550.36 | 1,591.29 | 1,758.52 | 1,579.05 |
| Masan High-Tech Materials Corporation | 598.75 | 542.68 | 552.04 | 286.59 |
| Vinacomin – Minerals Holding Corporation | 471.73 | 458.68 | 510.23 | 554.48 |
| Son Ha International Corporation | 307.18 | 369.86 | 433.26 | 453.72 |
| Ha Giang Mineral and Mechanics JSC | 7.74 | 6.76 | 14.26 | 26.75 |
| Sai Gon – Quy Nhơn Mining Corporation | 0.05 | 0.06 | 0.07 | 0.00 |
| ThaiNguyen Non-Ferrous Metals JSC | 48.27 | 37.22 | 44.60 | 48.34 |
| Dong Anh Licogi Mechanical JSC | 39.75 | 39.40 | 48.33 | 49.77 |
| Duong Hieu Trading and Mining Development JSC | 55.29 | 105.20 | 131.93 | 115.67 |
| Binh Dinh Minerals JSC | 7.05 | 6.93 | 7.52 | 4.62 |
| TNT Group JSC | 14.60 | 24.55 | 16.34 | 39.11 |
Vietnam’s mineral resources
Vietnam is home to a diverse range of mineral resources, making it an important player in the global mining landscape.
These resources are distributed across the country and play a crucial role in both the domestic economy and international trade.
Here’s a more detailed breakdown of Vietnam’s key mineral resources:
Coal
Vietnam’s coal reserves are primarily concentrated in the Quang Ninh province, which is known for its anthracite coal.
This high-quality coal is crucial for domestic energy production, particularly for power generation, and is also exported to markets such as Japan and South Korea.
The country’s coal production has been ramped up to meet growing energy demands, but there are also increasing concerns about balancing production with environmental sustainability.
See also: Vietnam’s Coal Industry: Production, Imports & Future
Bauxite
Vietnam holds one of the largest bauxite reserves in the world, mainly located in the Central Highlands.
Bauxite is the primary ore for aluminium production, and the country has been focusing on developing its aluminium industry to add value to its natural resources.
The Tan Rai and Nhan Co projects are two key bauxite mining and alumina processing ventures that reflect Vietnam’s ambitions to become a significant player in the global aluminium market.
Rare Earth Elements (REEs)
Vietnam is increasingly recognised for its rare earth element reserves, which are crucial for the production of high-tech products such as electronics, electric vehicles, and renewable energy technologies.
Vietnam’s rare earth deposits, primarily located in the northern provinces, are among the largest outside of China, positioning Vietnam as a potential alternative supplier in the global rare earth market.
This has drawn the attention of foreign investors looking to diversify away from Chinese dominance in this sector.
Iron Ore
Vietnam has large reserves of iron ore, with the majority located in the northern regions, including the Thach Khe mine in Ha Tinh province, which is considered one of the largest iron ore deposits in Southeast Asia.
Domestic steel production has been on the rise, using these resources to support infrastructure development and industrialisation.
Gold
Gold deposits are found in several areas across the country, particularly in the central and northern provinces.
While the gold mining industry in Vietnam is smaller compared to other mineral sectors, the value of gold in Vietnam is generally much higher than elsewhere in the world.
As a result, local and foreign companies are engaged in gold exploration and extraction, focusing on deposits in regions such as Quang Nam province.
Tin, Zinc, and Lead
Vietnam is rich in base metals such as tin, zinc, and lead, which are vital for industrial uses.
Tin is primarily mined in southern Vietnam, while zinc and lead are found in northern regions such as Cao Bang and Bac Kan.
These metals are used in manufacturing, construction, and various other industries, both for domestic use and export.
Other Minerals
In addition to the above, Vietnam also has reserves of limestone, graphite, copper, and titanium, which are important for both domestic industries and international markets.
Limestone, for instance, is essential for the cement industry, while graphite and titanium have applications in various high-tech industries.
Vietnam’s rich mineral resources have attracted significant foreign investment, with companies from Australia, Canada, China, and other countries partnering with local firms in joint ventures to extract and process these minerals.
Key players in Vietnam’s mining industry
These players collectively shape the dynamics of Vietnam’s mining sector, contributing to its growth and development.
Vietnam National Coal and Mineral Industries Group (Vinacomin)
As the largest state-owned enterprise in the mining sector, Vinacomin is responsible for coal production, mineral exploration, and mining services.
It plays a crucial role in supplying coal for power generation and other industries.
PetroVietnam
While primarily known for its oil and gas operations, PetroVietnam also engages in mining activities, particularly in exploring and extracting mineral resources related to its energy sector.
Masan Resources
A prominent player in the mining of minerals such as tungsten and other rare earths, Masan Resources has gained attention for its commitment to sustainable practices and community development.
Bac Ninh Mineral Company
Specialising in the extraction and processing of minerals, this company plays a vital role in the regional mining landscape, particularly in the northern provinces.
Thang Long Mineral Company
Known for its investments in mineral exploration and processing, this company contributes to the supply of various industrial minerals in Vietnam.
Foreign investors
Numerous international mining companies operate in Vietnam, forming joint ventures and partnerships with local firms to explore and extract resources.
This includes companies from Australia, Canada, and other countries, bringing in capital and expertise to the industry.
Investing in Vietnam’s mining industry
Investing in Vietnam’s mining industry presents both significant opportunities and challenges.
The country is rich in a variety of minerals, including coal, bauxite, rare earths, iron ore, and gold. With Vietnam’s growing demand for industrial materials, coupled with its expanding energy needs, the mining sector is seen as a potential growth area.
The Vietnamese government encourages foreign investment, particularly in areas that promote sustainable and high-tech mining practices.
Foreign investors typically enter the market through joint ventures or partnerships with local companies, allowing them to navigate regulatory frameworks and access domestic resources.
The government has worked to make the investment process more attractive by simplifying the licensing system and providing tax incentives for projects that focus on modernisation, environmental sustainability, and local development.
Several international firms from Australia, Canada, and China are already active in Vietnam, leveraging their advanced technology to improve efficiency and productivity.
However, investing in the sector is not without its challenges. The industry is subject to strict regulations to ensure environmental protection and resource conservation.
Foreign ownership limits, particularly for strategic minerals, can restrict full control by foreign investors. Additionally, fluctuating global commodity prices and complex licensing procedures can pose risks to long-term investments.
Nonetheless, for investors with the right expertise and willingness to engage in sustainable practices, Vietnam’s mining industry offers strong growth potential.
Vietnam’s Natural Resources Tax
Vietnam’s Natural Resources Tax was adopted by the National Assembly on November 25, 2009, and came into effect on July 1, 2010. It adds to a growing list of taxes in Vietnam.
This law is further detailed through various implementing decrees and circulars issued by the government and the Ministry of Finance, such as Decree No. 50/2010/ND-CP and Circular No. 105/2010/TT-BTC.
These documents provide guidelines on tax rates, calculation methods, declaration procedures, and exemptions, ensuring comprehensive regulation of natural resource exploitation in Vietnam. This article summarises these key components of the law.
For more information, see: Vietnam’s Natural Resources Tax
FAQ: The mining industry in Vietnam
These are some of the most commonly asked questions about mining in Vietnam.
What are Vietnam’s major mineral resources?
Vietnam’s key mined resources include coal, bauxite, rare earth elements, iron ore, gold, tin, zinc, and limestone.
How much does mining contribute to Vietnam’s GDP?
In 2023, Vietnam’s mining sector contributed US$10.28 billion, or 2.48 percent of national GDP.
Is foreign investment allowed in Vietnam’s mining sector?
Yes, but foreign investors typically enter through joint ventures, and some strategic minerals are subject to ownership limits.
Which companies are leading players in Vietnam’s mining industry?
Major players include Vinacomin, PetroVietnam, Masan Resources, and several foreign joint ventures from Australia, Canada, and China.
What are the main challenges for mining investment in Vietnam?
Key challenges include strict environmental regulations, complex licensing, foreign ownership limits, and fluctuating global commodity prices.
What’s next?
Vietnam’s mining industry is a key sector, rich in resources such as coal, bauxite, and rare earths, contributing significantly to the economy.
The government encourages foreign investment through joint ventures, focusing on modernising the sector while enforcing strict regulations to promote sustainability and environmental protection.
Despite opportunities, challenges include foreign ownership limits on strategic minerals and fluctuating global commodity prices.
With this in mind, to keep abreast of what’s happening in Vietnam’s mining industry, foreign mining industry professionals should make sure to subscribe to the-shiv.
First published September 20, 2024. Last updated February 18, 2026.