Vietnam Expands Electric Vehicle Battery Mining
Vietnam’s mining capacity for EV batteries is gaining attention as global demand for nickel‑rich lithium‑ion cells climbs.
Nickel projects aim to fill a looming supply gap
Electric‑vehicle manufacturers have warned that battery‑cell output may fall short of demand through 2030, a shortfall that could leave millions of cars without power sources. Nickel, a core ingredient in the cathodes of high‑energy‑density cells, is at the heart of this challenge. Most of the world’s nickel today serves the stainless‑steel sector, but analysts expect the balance to shift toward battery production as automakers chase higher nickel content for longer range.
In Vietnam, the prospect of tapping local nickel reserves has drawn Australian miner Blackstone Minerals to the Ta Khoa Nickel Project (TKNP) in Son La province.
Related: Lang Son Rises as Key China Alternative
Domestic battery ambitions complement mining plans
Local conglomerate Vingroup is pursuing battery‑cell production as part of its broader EV push through its automotive arm, VinFast.
VinFast, Vietnam’s first home‑grown car maker, launched gasoline models in 2019 and has since partnered with Kreisel Electric to source batteries for electric cars and buses.
While Indonesia and the Philippines dominate nickel production, Vietnam’s high‑grade sulfide deposits—preferred for battery‑grade nickel—could position the country as a niche supplier. The move mirrors Indonesia’s 2020 export ban on nickel ore, intended to promote domestic processing and a complete EV‑battery value chain.
Vietnam’s emerging role illustrates a broader shift as countries with modest reserves leverage strategic partnerships and targeted investments to climb the EV supply ladder despite smaller output.
Related: Fuel market volatility affects tax teams
Upgrading lower‑grade laterite ore, which is abundant in the region, requires energy‑intensive processing that raises carbon emissions.
Moreover, the global nickel market proved volatile earlier this year when spot prices surged 250 percent in a single day following geopolitical tensions involving Russia.
The combination of Blackstone’s mining plans with Vingroup’s battery‑cell production suggests Vietnam is positioning itself to meet a slice of the projected demand for nickel‑based cathode material. If the projects stay on schedule, the country could contribute a modest but strategically important amount of the nickel needed for EV batteries by the late 2020s.
