HÀ NỘI — Việt Nam's rare earth mining industry will likely experience rapid growth in the near future, according to industry experts, as demand has been on the rise steadily in the last few decades. As the global economy makes a shift to greener and more environmentally friendly energy, rare earth has become a much sought-after commodity on the international market. According to several studies, China could possess up to 90 per cent of the entire world's reserve of rare earth. In December 2014, a licence was granted to the Lai Châu Rare Earth Joint Stock Company and their Japanese partner to start the extraction of rare earth ores from a site in the province, which was said to be capable of large-scale industrial operation. Last September, the province hosted a delegation of South Korean experts on rare earth mining to discuss the potential of investment.

Source: Viet Nam News August 29, 2023 14:05 UTC