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Vietnam aims to triple its rare earth production by 2030

Vietnam aims to increase its rare earth production to 2.02 million tonnes per year by 2030, according to a government plan reviewed by Reuters.

mine de terres rares au vietnam

Rare earths in Vietnam are estimated at around $3 trillion, offering significant opportunities for both national and global economic development. This presents numerous opportunities for foreign investors.

Vietnam holds the world's second-largest reserves of rare earths, approximately 22 million tonnes, after China, according to the United States Geological Survey (USGS). Its rare earth production surged to 4,300 tonnes last year from 400 tonnes in 2021, as reported by USGS.

Increased production will be facilitated by extraction from nine mines in the northern provinces of Lai Chau, Lao Cai, and Yen Bai, according to the plan signed by Deputy Prime Minister Tran Hong Ha on July 18.

Vietnam plans to develop three to four new mines after 2030, with the goal of boosting its raw rare earth production to 2.11 million tonnes by 2050, as indicated in the document.

"The objective of the plan is to develop a synchronized and sustainable rare earth mining and processing sector for the country," it stated.

According to the plan, Vietnam will consider exporting a portion of the refined production. Only mining companies with modern and environmentally friendly technologies will be authorized to mine and process, without further elaboration.

In addition to mining, the country has announced its intention to invest in rare earth refining facilities, with the aim of annually producing 20,000 to 60,000 tonnes of rare-earth oxides (REO) by 2030. The plan aims to increase annual REO production to 40,000 to 80,000 tonnes by 2050.

Vietnam is positioning itself as a key player in the rare earth race, with ambitious projects to tap into its rich reserve of these essential metals for the electronics, defense, and clean energy sectors. The goal of surpassing 2 million tonnes in production by 2030 underscores the growing importance of these strategic resources. With Elio Strategy, a specialist in rare earth investments, you have the opportunity to participate in this exciting market evolution. Don't miss the chance to diversify your investment portfolio and contribute to a cleaner, more sustainable future by exploring the opportunities offered by rare earths. Request your brochure:

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