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TKV’s mining company Vimico (stock code: KSV) reported consolidated financial results for Q1 2026, posting net revenue from sales and services of VND 5,233 billion, up 71% year-on-year.
Net profit after tax in Q1 2026 reached VND 897 billion, up nearly 2.9 times from VND 314 billion in Q1 2025 and the highest quarterly level on record.
Vimico attributed part of the performance to increases in prices of several key products year over year:
As of 31 March 2026, Vimico’s total assets stood at VND 11,903 billion, up 21% from VND 9,871 billion at the start of the year. Cash and cash equivalents totaled VND 2,479 billion, up VND 1,638 billion compared with the beginning of the year.
On the funding side, total liabilities at the end of Q1 were VND 5,543 billion, up 26% from the start of the year. Total borrowings were nearly VND 1,880 billion.
Vimico is a subsidiary of Vinacomin (Vietnam National Coal and Mineral Industries Group). The company operates in mining and processing of copper and other non-ferrous metals, rare earth minerals, and ferrous metals.
Vimico is described as the leading copper mining and processing unit in Vietnam, holding mining rights at the Sin Quyền copper mine, the largest copper mine in the country.
The company also owns the Dong Pao rare earth ore deposit, the largest in Vietnam. Dong Pao covers about 133 hectares in Ban Hon commune, Tam Đường district, Lai Châu province, with total geological resources of over 11.3 million tonnes of ore, accounting for more than half of the country’s rare earth reserves. Remaining rare earth resources are mainly located in Nam Xe (Lai Châu), Muong Hum (Lào Cai) and Yen Bai.
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