250 billion VND Graphit project in Lao Cai faces the risk of being wiped out

On February 17, according to Lao Dong's source, the Department of Planning and Investment of Lao Cai province has just issued a document advising on the termination of the Nam Thi Graphite mining and processing investment project.

At the same time, it proposed to revoke the mineral exploitation license of CARAT Joint Stock Company at this mineral mine.

Present at the Graphite ore processing project next to Provincial Road 157 in Van Hoa commune (Lao Cai city), according to the reporter of Lao Dong Newspaper, the entire factory is located in a large area, surrounded by mountains and forests.

Around the main entrance of the ore factory, overgrown with grass and trees. Photo: Dinh Dai

However, through observation, there were no mineral exploitation and processing activities taking place. On the way to the factory, the grass and trees grew wildly and green well.

At the time of recording, there were still some workers entering and leaving the ore production and processing area and 1 security guard on duty to look after them.

Regularly going to work on Provincial Road 157, Mr. Nguyen Van Thang (Van Hoa Commune, Lao Cai City) said: "This graphite mining and processing project has been approved and built by Lao Cai Province for a long time. But for nearly ten years, I have not seen any activity of it.

According to Mr. Thang, the project worth more than 250 billion VND has been left unused for many years, causing waste both money and resources. Therefore, if it cannot operate again, Lao Cai province should definitely withdraw it.

Through research, the Nam Thi Graphite Exploitation and Processing Project is invested by CARAT Joint Stock Company with a capital of 251 billion VND. The project's land use area is 107.7 hectares, with an exploitation capacity of about 200,000 tons of ore/year.

In 2010, the project was granted an investment certificate. In 2017, Lao Cai Provincial People's Committee issued a decision to adjust the policy for the second time.

The project was implemented in the period of 2017 - 2018. According to the schedule, in March 2018, the plant must officially come into operation, producing graphite ore with a carbon content of 95%.

According to the Lao Cai Department of Planning and Investment, due to the impact of the COVID-19 pandemic, orders were suspended, and investors sent documents to the Provincial People's Committee and related units to notify the suspension of production and exploitation of graphite ore.

In fact, inspection shows that, up to the beginning of 2025, the project still has no production or exploitation activities at the mine and factory.

It is known that CARAT Joint Stock Company is currently owing more than 3.7 billion VND in land rent and late payment fees in Lao Cai city and Bao Thang district.

Regarding this issue, the leader of Lao Cai Provincial People's Committee informed: "The province and departments and branches have had many solutions to support the resolution for businesses. However, if the project cannot operate, violates regulations on investment, land, minerals, tax management, etc., it is necessary to consider revoking, handling violations for each violating content and moving towards revoking the entire project".

Some recorded images:

Not being able to put into operation causes waste of money and mineral resources. Photo: Dinh Dai