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RoK seeks to import graphite from Vietnam

The Republic of Korea (RoK)’s Technology DA Company on January 3 announced that it has signed an exclusive contract for importing natural graphite with Vietnam Graphite Group (VGG).
RoK seeks to import graphite from Vietnam ảnh 1CEO DA Technology Lee Sang-hwa (left) and Chairman of  VGG Nguyen Duc Luong. (Source: DA Technology)

Seoul (VNA) – The Republic of Korea (RoK)’s Technology DA Company on January 3 announcedthat it has signed an exclusive contract for importing natural graphite withVietnam Graphite Group (VGG).

Under the contract, VGG plans to supply at least20,000 tonnes of natural graphite every year to DA Technology, which has the exclusive right to import and distribute natural graphite of 99.97%purity produced by VGG in the RoK.

A representative from DA Technology said that in 2023,the RoK relied on China for 96.4% of its natural graphite needs, the highest rate in the past five years. As Chinahas strengthened control on graphite exports from December 2023, the Koreancompany hopes the freshly signed contract will have a positive impact on the supply of the mineral to the country.

DA Technology plans to jointly invest in graphite processing and refining facilities toexpand graphite production capacity (CAPA). 

Due to the recent boom in demand, high-purity graphite has beenwidely used in lithium-ion battery production.

VGG is holding the right to exploit a graphite mine witha total area of 34.3ha in the northern province of Yen Bai. Thecompany also owns a graphite processing plant in Tran Yen district, Yen Baiprovince.

The total crude orereserves of the graphite mine are estimated at 4 million tonnes, and VGG's graphiteproduction plant is capable of processing 400,000 tonnes of ore concentrate peryear./.

VNA
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