Global firms urged to research rare earths

Foreign players are being encouraged to engage in initiatives on rare earth technology in Vietnam thanks to fresh regulations.

- By Kim Oanh

The Ministry of Agriculture and Environment is collecting the opinions from ministries and relevant parties to complete a national strategy on rare earth materials, and plans to submit the draft version to for approval in the first quarter.

“Rare earths are essential to a wide range of modern technologies, including semiconductors, permanent magnets, catalysts, defence systems, display devices, smart agriculture, advanced alloys and materials, solar panels, electric vehicle batteries, military robots, and drones,” said Minister of Agriculture and Environment Tran Duc Thang at a meeting in Hanoi on January 17 to discuss the national strategy.

“Demand for rare earths is expected to rise sharply over the next decade in line with rapid developments in high-tech, renewable energy, and electric vehicle industries, thus building a national strategy on rare earths is an essential requirement,” Thang added.

Prime Minister Pham Minh Chinh emphasised the need to strengthen state management in this field, while also encouraging international cooperation.

Vietnam has the world’s second-largest reserves of rare earths at an estimated 22 million tonnes, second only to China, with confirmed deposits in 21 provinces nationwide, according to the Ministry of Agriculture and Environment.