Hòa Phát Seeks to Unlock Two Iron Mines to Achieve Steel Self-Sufficiency

On June 17, a working delegation from the Ministry of Industry and Trade met with Hoa Phat Steel Company in Quang Ngai. Mr. Mai Van Ha, the director, presented their project which aims for an annual capacity of nearly 12 million tons. The project is in its second phase, including facilities for producing steel rails, expected to yield 700,000 tons annually starting from February 2027. To lessen reliance on imported raw materials, Hoa Phat has proposed that the government exploit two significant iron mines: Quy Xa (100 million tons) and Thach Khe (500 million tons). The company has assured technology to manage zinc levels in Thach Khe. Additionally, Hoa Phat hopes for prioritization of domestic products by the government and emphasizes fair competition in the steel industry.