Deputy PM chairs meeting on strategic mineral resource project

Deputy Prime Minister Trần Hồng Hà addresses the conference. — VNA/VNS Photo Doãn Tấn

HÀ NỘI — Deputy Prime Minister Trần Hồng Hà emphasised that strategic mineral resources were especially rare, so it was necessary to build a suitable legal corridor.

Chairing a conference on the pilot project to investigate and evaluate the overall strategic mineral potential of Việt Nam on Thursday, the Deputy PM stated that the investigation and overall assessment of the country's strategic mineral potential needed to be placed in a comprehensive and strategic relationship, alongside the country's mineral industry.

First of all, he said, the project needed to properly reflect the role and importance of strategic mineral resources, especially rare earths, for emerging industries, global supply and demand.

It should express the impact and influence of strategic minerals on economic, trade, diplomatic and geopolitical activities of the region and the world.

At the same time, he said the project needs to properly evaluate the position and potential of Việt Nam's strategic mineral resources on the world map.

Deputy PM Hà also requested that the project should not end at investigation and appraisement, but also advise and propose major policies and viewpoints of the Party, the State on the management and development of the country's strategic mineral industry.

He also suggested pilot projects in exploration, investigation, exploitation, processing and use with a focus on selecting technology, strategic partners and building a suitable legal corridor for strategic mineral resources.

Giving a report at the conference, Director of the Việt Nam Geological Department under the Ministry of Natural Resources and Environment (MoNRE), Trần Bình Trọng, said that strategic minerals, including rare earths, played a key role in many emerging industries. They are used to make permanent magnet materials, optical materials, superconducting materials, produce batteries, make important electronic components such as smartphones, energy-saving home appliances, electric cars, aerospace equipment and, most especially, used in the defence industry.

Việt Nam is a country with great potential for resources and strategic mineral reserves in the world.

In addition to the areas that have already been investigated, evaluated and explored, a number of projects implemented by the MoNRE have discovered geological signs related to strategic mineral reserves in many zones.

At the conference, leaders of ministries said that in order for Việt Nam to become an important link in the world's supply chain of strategic minerals, especially rare earths, it is necessary to have a project to investigate and evaluate the overall potential of strategic mineral resources.

Other important works are establishing a complete database, which would serve as a basis for building strategies and policy frameworks for the reasonable management and use of strategic minerals.

The project implementation is essential to serve economic development as well as ensure national security and defence, reduce dependence on foreign supplies, create development opportunities for Việt Nam's strategic mineral industry, increase employment and local development. — VNS