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Vietnam boasts a large reserve of approximately 30 million tonnes of rare earth, but the country has yet to conduct thorough research about how to exploit and process it effectively.
The information was shared by Minister of Natural Resources and Environment Dang Quoc Khanh during a question-and-answer session at the National Assembly (NA) on June 4. The question about the use and management of rare earth was raised by NA deputyTran Quang Minh (Quang Binh province).
Minister Khanh said that the Ministry of Natural Resources and Environment (MoNRE) has so far evaluated 2.7 million tonnes of rare earth, but 18 million tonnes of rare earth have yet to be evaluated.
"The prime minister has assigned the MoNRE to conduct a basic investigation and evaluate the overall reserves. Based on our data, Vietnam has approximately 30 million tonnes of rare earth," Khanh said.
"To exploit important minerals, especially rare earths, we must consider deep processing and fine processing. The aim is to serve Vietnam's chip and semiconductor industry and exports," he added.
However, the minister pointed out that Vietnam does not have deep processing technology, so it is necessary to attract investment, joint ventures, and technology transfer in this field.
The MoNRE has increasingly stepped up its assessment of rare earth reserves and research, and has called on provinces such as Lai Chau, Yen Bai, and Lao Cai to strengthen rare earth management.
Lai Chau is home to Vietnam's largest rare earth mine, Dong Pao, with 132 hectares, alongside the Bac Nam Xe and Nam Nam Xe mines.
Rare earth elements are a group of 17 metals used in various high-tech applications, including smartphones, wind turbines, electric vehicles, aircraft, phones, and defence.
Domination in rare earths not out of reach
Vietnam could realise its goal of becoming a significant source of rare earths for the global market, if rules on extraction and refining are made more suitable.
LS Eco Energy diversifies its rare earth supply to Vietnam
On January 10, South Korea's LS Eco Energy announced that it has signed a rare earth oxide purchase agreement with Vietnamese mining company Hung Thinh Minerals.
South Korea's Trident obtains rights to rare earth mines in Vietnam
Trident Global Holdings, a prominent South Korea-based conglomerate with interests in mining, real estate, and carbon capture technology, has acquired rights to three significant rare earth element mines in Vietnam.
By Thanh Van
