Vietnam grants TKV specialized management powers for strategic minerals

The Vietnamese government has issued Decree 325/2026/ND-CP, establishing a specialized operational and financial management mechanism for the Vietnam National Coal-Mineral Industries Holding Corporation Limited (TKV). This decree grants the corporation expanded authority over resource management, production coordination, and consumption.

TKV is tasked with unifying the processes of surveying, exploration, extraction, processing, and utilization of resources including coal, bauxite, and other strategic minerals. For mines licensed directly to TKV, the corporation will manage the entire lifecycle from exploration to consumption. For mines licensed to subsidiaries, TKV will act as the central management hub to ensure unified technology and production standards.

A significant feature of the decree is the creation of a ‘TKV market,’ where the corporation has the authority to decide and adjust prices for goods and services, such as coal, alumina, and various minerals, except for those specifically price-controlled by the State. Additionally, the decree provides a financial mechanism allowing TKV to use after-tax profits to cover costs from failed exploration or investment projects, such as those where reserves are insufficient for industrial extraction or where environmental mitigation solutions are unavailable.