Vietnam Possesses Significant Rare Earth Reserves, Says Minister
Hanoi, The Gulf Observer: Vietnam holds significant rare earth reserves, estimated at approximately 30 million tonnes, though the exploitation and processing of these resources have not been thoroughly researched, according to Minister of Natural Resources and Environment Đặng Quốc Khánh.
During a questioning session on Tuesday morning, National Assembly deputy Trần Quang Minh from Quảng Bình Province sought details on the recent exploitation, management, and use of strategic minerals, particularly rare earths. In response, Minister Khánh highlighted that Vietnam’s reserves of strategic minerals are substantial, with bauxite reserves amounting to about 5.8 billion tonnes and titanium reserves around 600 million tonnes.
Addressing the rare earth reserves specifically, Minister Khánh stated that the Ministry has currently assessed reserves at 2.7 million tonnes. Additionally, estimates suggest about 18 million tonnes of unassessed rare earth resources, totaling approximately 20.7 million tonnes.
“The Prime Minister has tasked the Ministry with conducting a comprehensive assessment of these reserves. According to our data, we could have approximately 30 million tonnes of rare earths,” Khánh stated.
The minister emphasized the importance of in-depth processing of critical minerals, such as rare earths, within Vietnam to support domestic industries. “We are attracting semiconductor chip industries. The Prime Minister has directed this effort. If we deeply process rare earths, it could serve our needs and allow for export research,” Khánh explained.
However, achieving this goal requires meeting several conditions, including advanced processing technology and investment. “We have not previously conducted comprehensive research on processing, so we lack advanced processing technology. Therefore, we need to attract investment, form joint ventures, and transfer technology,” Khánh noted.
The Prime Minister has directed relevant ministries to assess the reserves, emphasizing the necessity of technology transfer to deeply process these resources for national benefit. Minister Khánh also urged provinces with rare earth potential, such as Lai Châu, Yên Bái, and Lào Cai, to enhance management efforts to prevent illegal mining and trading.
“Rare earth deposits can be found deep underground, with some smaller surface deposits. Local authorities must manage to prevent illegal mining and trading of rare earths,” Khánh stressed.
Rare earths, comprising 17 elements, are crucial in producing high-tech equipment, batteries, permanent magnets for electric vehicles, wind turbines, aeroplanes, phones, and the defense industry. According to a 2022 report by the US Geological Survey, China has the largest rare earth reserves with 44 million tonnes, followed by Vietnam with 22 million tonnes, and Brazil with 21 million tonnes.
In Vietnam, significant rare earth reserves have been identified in Lào Cai, Lai Châu, and Yên Bái provinces. Lai Châu hosts the largest rare earth mine in Vietnam, Đông Pao, covering 132 hectares, along with Bắc Nậm Xe and Nam Nậm Xe mines.
