VinES and Cavico

VinFast is serious about nickel supply. They have locked in supply for a low grade nickel mine in Laos which will use hydrometallurgical processing and hydroelectricity. Around 20k tonnes of nickel per year for 20 years. To have a similar project though Blackstone needs to double the amount of nickel and increase life of mine to 20 years from 10. No word on exploration is frustrating, if they were regularly increasing the MRE I would be more optimistic.

VinES and Cavico cooperate to ensure the supply of electric vehicle batteries

Cavico Lao Mining Company will give priority to meeting the demand for nickel – an important raw material for the production of electric vehicle lithium batteries for VinES for at least the next 5 years.The agreement was signed by VinES Energy Solutions Joint Stock Company (a member of Vingroup) and Cavico Lao Mining Company Limited (a member of Cavico Vietnam) on December 13. Specifically, Cavico Lao Mining will provide all nickel products for VinES to choose to purchase depending on demand, ensuring long-term supply.Nickel is an indispensable material in the production process of electric vehicle batteries.

Ms. Pham Thuy Linh – General Director of VinES Energy Solutions Joint Stock Company said that the electric vehicle market is growing at a high rate on a global scale, leading to the demand for batteries. This cooperation will improve the production capacity and develop the battery lines for electric vehicles and energy storage devices that the business is deploying.Mr. Bui Quang Ha – Chairman of the Board of Directors of Cavico Lao Mining Company also highly appreciated Vingroup’s strategy of building an electric car brand “made in Vietnam”. “As a domestic enterprise, we look forward to contributing to that great goal through our partnership with VinES to secure the supply for battery production – the most important part of electric cars,” said Mr. Ha shared.

Cavico Lao Mining is a company operating in the field of mineral exploration and development, has been licensed to invest in mining and processing nickel and cobalt at a polymetallic mine in Laos, with an area of 80 km2. The geographical location close to Vietnam is a favorable condition in the transportation and supply of raw materials.

VinES is operating two factories producing battery cells and battery packs in the VinFast electric motorbike-car factory complex (Hai Phong). In the coming time, the company will put into operation a factory with a capacity of 100,000 battery packs a year in Vung Ang (Ha Tinh) and just break ground to build a joint venture manufacturing LFP batteries with partner Gotion in Ha Tinh.

#CAVICO Laos (CLM) is currently exploiting the only Nickel mine on an area of 80km2 in Bolikhamxay Province licensed by the Laos Government since 2009.The project is expected to mine and process 30 tons of #gold & 470,000 tons of #Nickel in the form of metal from 2022 to 2042.