Blackstone (NYSE:BX) Minerals Ltd (ASX:BSX, OTCQX:BLSTF) has strengthened relations with the government in Vietnam after hosting a senior delegation visit from Son La to Perth in late April.
The visit was organised and funded by the Vietnamese Ministry of Foreign Affairs, highlighting a broadening alliance that brings world-class mining practices and eco-friendly methods to the forefront of the industry.
Son La officials and Blackstone management have made great strides in their collaborative efforts, centred on the company's Ta Khoa Project (TKP) in Son La province.
Visit objectives
During the Perth visit, provincial officials were given an in-depth look into Blackstone's world-class mining practices, environmental performance and advanced technology usage, alongside an update on the company's progress.
This exchange aims to foster a deeper understanding between the Vietnamese authorities and Blackstone, thereby strengthening their working relationship.
Blackstone was pleased to have Thanh Ha Nguyen, the Consul General of Vietnam (Western Australia), and Albert Purnomo, global engagement manager for Austrade, also attend the visit.
This visit included a tour of a world-class gold mining operation using leading-edge technology to mine safely and efficiently.
Mining law update
On May 16 in Vietnam, Blackstone met with the Son La Party Committee to reaffirm its commitments regarding the Ta Khoa Project (TKP) in Son La.
Son La Provincial Party Committee meeting.
Blackstone managing director Scott Williamson presented an update to the Son La Party Committee on progress regarding partners, funding and the status of the definitive feasibility study for the project.
Vice Party Secretary Lo Minh Hung also expressed the province's continuous commitment and support for the project.
The following day, Blackstone’s leadership participated in a high-level roundtable on energy and resources hosted at the Australian Embassy in Hanoi.
This event was hosted by Australia’s Ambassador to Vietnam Andrew Goledzinowski and chaired by the Australian Prime Minister’s special envoy for Southeast Asia, Nicholas Moore.
Attendees addressed pressing issues including restrictive legislation and bureaucratic delays.
The outcomes of the discussion will be conveyed to top levels of Vietnamese leadership with the aim of enhancing trade and investment between Australia and Vietnam.
In line with this, Blackstone has been invited to contribute to the rewriting of Vietnamese Mining and Minerals Law.
This initiative aims to modernize the current laws, making Vietnam an attractive destination for foreign direct investment in exploration, mining and mineral processing.
National power Master Plan
Significantly, the Prime Minister of Vietnam has approved the National Electricity Development Master Plan, which includes the infrastructure requirements for the proposed Ta Khoa Refinery.
This pivotal development indicates the Vietnamese Government’s formal acknowledgement of the project's electrical infrastructure needs, a key aspect of the licensing and permitting process.