LAI CHAU VIMICO RARE EARTH JOINT STOCK COMPANY (Vietnamese name: Công Ty Cổ Phần Đất Hiếm Lai Châu - VIMICO), commonly known as LAVRECO, is a privately held joint stock company specializing in the mining and processing of rare earth ores. Headquartered in Thác Cạn Village, Tam Đường Town, Lai Châu Province, Vietnam, the company has operated since its official registration on March 14, 2007. With more than 18 years of experience in the mineral sector, LAVRECO plays a strategic role in Vietnam’s ambition to position itself as a global supplier of rare earth elements amid rising international demand and geopolitical shifts.

Operating under Business ID 6200010849 and Tax Identification Number (TIN) 6200010849, the company maintains an active legal status and is registered with the Lai Châu Department of Planning and Investment. As of December 31, 2023, its charter capital stood at approximately USD 14.38 million, with a paid-up capital of USD 11.84 million. The company currently employs 19 people, indicating a lean structure possibly focused on specialized operations in rare earth exploitation and support services.

The current director of the company is Vu T. T., a Vietnamese national, who oversees all operations and management decisions. His leadership comes at a time when the company is navigating a complex economic landscape and striving to scale its capabilities in line with rising market expectations and foreign interest in Vietnam’s rare earth sector.

LAVRECO’s ownership is notably tied to some of Vietnam’s major industrial and investment players. The majority shareholder is Vinacomin – Minerals Holding Corporation, holding 55% of shares, which aligns LAVRECO closely with the state-owned Vietnam National Coal – Mineral Industries Group (VINACOMIN). Additional shareholders include Hung Hai Construction Co., Ltd. with a 20% stake, Le V. T., an individual Vietnamese investor with 17%, and Viet Phuong Investment Group JSC, holding the remaining 8%.

Financially, LAVRECO reported significant growth in 2023. Its total assets increased by 13.84% year-over-year, reaching USD 17.45 million. Owner’s equity rose by 8.65% to USD 11.84 million, while net worth stood at USD 11.68 million. Most notably, the company rebounded in terms of sales, generating USD 6.1 million in revenue, compared to zero reported sales in 2022—a year that likely reflected project delays, restructuring, or market constraints. Despite the revenue recovery, the company's net profit was modest, recorded at just USD 1,389, suggesting ongoing investments, cost burdens, or inefficiencies in operations that are yet to be fully resolved.

Working capital remained negative at USD -2.76 million, indicating liquidity pressures or short-term liabilities outweighing current assets. While the company’s equity base remains solid, its profitability metrics point to a need for improved operational efficiency and deeper vertical integration, particularly in refining and value-added processing.

LAVRECO is involved not only in rare earth mining but also in providing support services for the exploitation of these activities. The company’s registered business lines span various sectors, including quarrying, wholesale of metal ores, construction materials, fuels, and vehicle parts, which may reflect a strategy to diversify revenue streams and manage risk within Vietnam’s mining ecosystem.

As Vietnam emerges as a potential alternative to China in the global rare earth supply chain, LAVRECO’s position in Lai Châu—home to some of the country’s richest deposits—gives it significant strategic value. However, to fully capitalize on this potential, the company will need to secure access to modern processing technology, increase its profitability, and possibly expand its workforce or infrastructure.

With international interest rising and partnerships forming across the rare earth value chain, LAI CHAU VIMICO RARE EARTH JOINT STOCK COMPANY is poised at the crossroads of opportunity. Its financial foundation and shareholder structure provide stability, but scaling impact in this high-demand sector will depend on innovation, sustainability, and strategic cooperation with both domestic and foreign stakeholders.