Vietnam boasts approximately 30 million tonnes of rare earth minerals
Although Vietnam has large reserves of rare earth minerals at approximately 30 million tonnes, exploitation and processing have yet to be comprehensively researched and examined, said Minister of Natural Resources and Environment Dang Quoc Khanh during a regular question-and-answer session of the National Assembly in Hanoi on June 4.
Only 2.7 million tonnes have been assessed, and exploration efforts are underway, said the Minister, adding that the Prime Minister has assigned the Ministry of Natural Resources and Environment to conduct a survey and assessment of the overall reserves of rare earth elements in the country.
According to the Minister, the exploitation and processing of essential minerals such as rare earths must take into account deep and fine processing in order to support industrial production and development.
“We are attracting investment into the semiconductor chip manufacturing industry, and the Prime Minister has issued directions. If we focus on deep processing of rare earth minerals, it can immediately help the industry and export in the long term,” stressed Minister Khanh.
To do this, however, the Minister said that many conditions must be met.
“We do not have deep processing technology because we have not comprehensively researched processing before. Therefore, it is necessary to attract investment or enter into joint venture partnership models to step up technology development, as well as technology transfer,” suggested the Minister.
Alongside the comprehensive survey, assessment of reserves, and further research, the Minister also requested that localities with rare earth potential such as Lai Chau, Yen Bai, and Lao Cai move to strengthen management.
Rare earths comprise 17 elements, most of which play an irreplaceable role in the production of high-tech equipment, batteries, permanent magnets for electric vehicles, wind turbines, aircraft, phones, and the defence industry.
According to a 2022 announcement made by the US Geological Survey, China has the largest rare earth reserves in the world at 44 million tonnes, followed by Vietnam at 22 million tonnes, and Brazil 21 million tonnes.
In Vietnam, some localities have been identified as having large rare earth reserves, including Lao Cai, Lai Chau, and Yen Bai. Indeed, Lai Chau has the largest Dong Pao rare earth mine in the country, covering a total area of 132 hectares.
