Vimico inks $2.9bn scrap material deal with TKV subsidiary

Vinacomin – Minerals Holding Corporation (Vimico) announced a significant transaction with a related party. On December 16, 2025, Vimico signed a contract to sell scrap iron, steel, copper, and aluminum to Hon Gai Coal Company – TKV, a subsidiary of Vietnam National Coal – Mineral Industries Group (TKV). This transaction follows Resolution No. 311/NQ – VIMICO, dated February 11, 2025, approved by Vimico's board of directors.

The provisional value of the contract for these scrap materials is 2,912 billion Vietnamese dong. The final payment will be determined based on the actual weight of the delivered goods multiplied by the unit price stipulated in the contract. The implementation of this contract is scheduled to occur within December 2025.

The announcement reaffirms Vimico's commitment to transparency, stating that the disclosed information is truthful and the company takes full legal responsibility for its contents.