Vietnam produces first aluminum ingots in industry milestone
Vietnam unveiled its first aluminum ingots on July 26 at the Nhan Co Industrial Park in Lam Dong province, marking the completion of the country's bauxite-alumina-aluminum value chain. Deputy Prime Minister and Minister of National Defence General Phan Van Giang attended the ceremony, saying the event created fresh momentum for the metallurgical industry and gradually enhanced the self-reliance of the economy. The Lam Dong provincial People's Committee and Tran Hong Quan Metallurgy Co., Ltd jointly organised the unveiling.
The Dak Nong Aluminum Electrolysis Plant began its first phase with a capacity of 150,000 tonnes of aluminum per year after more than 11 years of construction. Phase two (300,000 tonnes per year) is expected to become operational in the fourth quarter of 2026, and the third phase is scheduled for completion in the first quarter of 2027, bringing the plant to its designed capacity of 450,000 tonnes per year. Total investment is nearly 28 trillion VND (about US$1.06 billion) across roughly 128–129 hectares. The ingots have a purity of 99.71 percent, and the project is expected to create about 3,500 jobs and reduce aluminum imports by approximately US$1.5 billion annually.
Jamaica forecasts bauxite and alumina earnings rebound
Jamaica's bauxite and alumina export earnings are projected to rebound 24 percent to US$760 million in 2026, a US$147.7 million increase over the US$612.3 million earned in 2025. The forecast, drawn from the Government's annual report on Form 18-K filed with the US Securities and Exchange Commission, follows a difficult 2025 in which total earnings declined by US$191.1 million (23.8 percent) due mainly to lower alumina prices and exports.
The projected recovery comes despite steep first-quarter production declines and ongoing Hurricane Melissa repairs expected to continue throughout 2026. Alumina production fell 30.3 percent to 267,060 tonnes in the first quarter, while crude bauxite production declined 26.4 percent to 415,143 tonnes. Alumina exports dropped to 319,599 tonnes from 358,070 tonnes, and crude bauxite exports fell 29.7 percent to 384,276 tonnes during the same quarter of 2025.
Crude bauxite segment and production outlook
Crude bauxite performed better than alumina in 2025, with earnings rising 18 percent to US$66 million as the average price increased 16.7 percent to US$38.20 per tonne. Export volumes rose 1.1 percent to approximately 1.73 million tonnes, although total bauxite production declined 4.4 percent to roughly 5.62 million tonnes in 2025. The Government is projecting total bauxite production of approximately 6.4 million tonnes for 2026, an increase of almost 14 percent over the previous year's output, contingent on significant improvement through the rest of the year.
Industry investment and operational challenges
Capital expenditure in Jamaica's bauxite sector totaled US$17.7 million during the first quarter of 2026, with Jamalco accounting for the largest share. Jamalco's projects included upgrades to its mud-washing system, turbine and air-compressor equipment, along with improvements to residue management and dry-stacking operations. Discovery Bauxite Partners resumed capital expenditure on expanding and renewing its mining fleet, while Windalco continued work on haul road development and maintenance.
The reopening of JISCO Alpart remains uncertain, and rising energy costs continue to pressure producers because bauxite mining and alumina refining require large amounts of energy. Discovery Bauxite primarily supplies the Gramercy alumina refinery in the United States, and in January, ATALCO — the parent company of the managing partner in Discovery Bauxite — announced a strategic investment partnership with US interests to support expansion and long-term operation of the refinery. Jamaica is estimated to have approximately 40 years of mineable bauxite reserves, although the lifespan will depend on geological conditions, technology, market prices and mining practices.
Vietnam's bauxite reserves are estimated at 5.8 billion tonnes, concentrated mainly in the Central Highlands, supporting the Party and State's policy of promoting deep processing of high-value-added aluminum products, conserving resources and reducing dependence on imports. The next verifiable milestone is the planned fourth-quarter 2026 commissioning of Phase two of the Dak Nong Aluminum Electrolysis Plant.
Next milestones
Vietnam's Phase two of the Dak Nong Aluminum Electrolysis Plant is expected to become operational in the fourth quarter of 2026, with Phase three targeted for completion in the first quarter of 2027.
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