Dragon Capital mining project not dead yet
Vietnam-based investment firm Dragon Capital assures its investors that the Nui Phao tungsten mining operation has not yet had its licence revoked, contrary to press reports.
Press reports on September 2 that Vietnamese authorities had pulled the plug on a high-profile mining project have been refuted by Dragon Capital, the private-equity firm that acquired the mining interest.
On September 1, in a message to its investors seen by AsianInvestor, Dragon Capital said: "Nui Phao [the name of the mine] will not now have its investment and mining licenses peremptorily revoked."
The Vietnamese government is now investigating whether the project, to mine tungst…
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