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Vietnam’s non-ferrous metal ore mining shows mixed performance in 2024

Vietnam’s mining of non-ferrous metal ores grew by 1.5 percent in December compared to November, according to Vietnam’s Industrial Production Index.

Year-on-year, the sector contracted by 6.2 percent in December compared to December 2023. However, for the full year of 2024, non-ferrous metal ore mining recorded a strong 17 percent increase compared to 2023, reflecting overall growth despite short-term challenges.

The modest month-on-month growth suggests stabilisation in production, while the annual performance highlights significant gains earlier in the year. The year-on-year decline in December could point to reduced global demand or operational slowdowns as the year ended.

Non-ferrous metal ore mining is crucial for Vietnam’s industrial and export sectors, providing raw materials for electronics, construction, and manufacturing. The industry benefits from increasing global demand but faces challenges such as resource depletion and price volatility.

The annual growth underscores the sector’s resilience and potential for further expansion with continued investment and resource management.

See also: Mining in Vietnam: Industry Overview

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