Mining in Vietnam and Blackstone Minerals Limited (ASX: BSX)

Mining in Vietnam and Blackstone Minerals Limited (ASX: BSX)

To the general public, Vietnam has not been synonymous with mineral resources. However,  Vietnam is very active with mining and currently is host to the biggest working Tungsten mine outside of China.

Located in Thai Nguyen Province in northern Vietnam, Nui Phao is the world’s largest tungsten mine, with an estimated reserve of 66 million tons. As the flagship asset to Masan Resources’ portfolio (Masan core business is making and selling noodles), the polymetallic deposit also includes a rare combination of economic mineralisation of fluorspar, bismuth and copper occurring with the tungsten. (source: Mining Global)


Figure 1: Mineralised Belts that have defined the northern part of Vietnam and the Yunnan Province in southern China. (source: Blackstone Minerals)

The north-western part of Vietnam is host to a  very mineralised belt that extends into China (Figure 1) The northerly trending Loei Belt (Figure 3) from Laos is also very mineralised where numerous copper and gold mines have flourished for many decades.

Apart from the numerous established mines, there are a series of small miners like what you would find in Australia, South America and Africa.  Vietnamese are no strangers to the art of mining and dealing in mining projects (Figure 2).  In Figure 2,  you can see that the northern part of Vietnam has an extensive amount of mining activity.  I remember 15 years ago I was doing work for a private company who had a gold project in this part of the world.  The project as a quartz hosted high-grade gold story but they abandoned the whole project due to jurisdiction issues.  The major downside with doing any work in Vietnam belongs to the “highly sophisticated administration” process.


Figure 2: Mineral occurrences in Vietnam. (source: Vietnam Mining Industry Webinar)



Blackstone Minerals Announcement

On the 8th May 2019, Blackstone Minerals announced that they have taken the option on the Ta Khoa Nickel Project in Vietnam to earn 90% interest in the project (Figure 1).

The project is anchored by the Ban Phuc nickel mine which was mined from 2013 to 2016 and is currently on care and maintenance.

The package is 150 square kilometres and has more than 25 massive sulphide vein targets that will give the company all the upside.

Some of these targets may be larger disseminated sulphide targets.  The deal is pretty soft, $400,00 cash as quarterly payments over the 12 months and exercising the option with AUD$1M worth of shares on VWAP (Volume Weighted Average Price).


Figure 3: Diagram showing the structural corridors that are present in the area. (source: Department of Geology and Mineral Resources, LAOS)


The tectonic setting in this region is interesting as it is where you would expect strong mineralisation events.  The structural belts that run adjacent to the project area have a strong metal endowment and especially on the China side within the Yunnan Province.  The NiS mines in China are large systems and this is what Blackstone is marketing.  No doubt the Ta Khoa Nickel project has all the ingredients to make this a world class nickel project.

The concept of chasing the Disseminated Sulphide ore bodies makes good sense.  The historical mining strategy of chasing the NiS veins worked well in the past.  However, I do think that the new strategy of chasing the lower grade disseminated orebodies will pay off as there appears to be a readymade open pitiable mine.

Granted that more drilling will need to be completed but the historical drilling results are very encouraging.  Remember that these kinds of projects favour those that do go out and test the near mine resources.  Bellevue Gold Mines (ASX: BGL) did that with their current project and it has put the company is a very strong position.

Blackstone has mentioned that there are numerous targets that have not been tested.  The proof in the pudding is when they go out drilling.

If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters.

If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on


Samso is primarily a consulting company that delivers digital information to the market in terms of creating organic content.

Samso provides bespoke research and presentation for clients to engage their customers or investors. Bespoke research is useful for clients who require a two-way flow of communication with their customer/investor base by utilising a social media strategy.

Organic content allows audiences to feel a real sense of sincerity when you share your business strategy, allowing your business to stand out among the sea of social media traffic.

Samso has nearly 30 years of experience in developing business ideas and concepts in the Australasian region. Samso has worked primarily in the mineral resources industry, capital markets and corporate finance. Noel Ong is the founder of SAMSO.



Web Hosting




The information contained herein is the writer’s personal opinion and is provided to you for information only and is not intended to or nor will it create/induce the creation of any binding legal relations. The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints.

Accordingly, no warranty whatsoever is given, and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise. You may wish to seek advice from an independent financial adviser before committing to purchase or invest in the investment product(s) mentioned herein.

If you choose not to do so, you should consider whether the investment product(s) mentioned herein are suitable for you. The writer will not, in any event, be liable to you for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on any information in and/or materials appended herein. The information and/or materials are provided “as is” without warranty of any kind, either express or implied. In particular, no warranty regarding accuracy or fitness for a purpose is given in connection with such information and materials.

All intellectual property in relation to content on this Site belongs to Samso or its licensors, advertisers or affiliates. You obtain no interest in that intellectual property. All content on this Site is protected by Australian and international copyright and other intellectual property laws. You may not do anything which interferes with or breaches those laws or the intellectual property rights in the content.

You may download and view content or print a copy of material on this Site for personal, non-commercial use provided you do not modify the content in any way (including any copyright notice). All rights not expressly granted under these terms of use are reserved by Samso. Unless expressly stated otherwise, you are not permitted to copy, or republish anything you find on the Site without the copyright or trademark owners’ permission.






Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.