The exploitation, processing, and utilization of rare earth elements (REEs) in Vietnam have been limited. However, the new partnership between Hung Hai Group and Trident Global Holdings opens up promising prospects for Vietnam’s rare earth mining and processing sectors.
Rare earth elements, including Scandium, Yttrium and 15 Lanthanides, are critical materials in high-tech industries and strategic for semiconductor production. Despite early research into separating and purifying rare earth oxides, Vietnam lacks facilities that can process these concentrates to meet export standards (total rare earth oxide content of at least 95%).
Vietnam’s rare earth potential
Vietnam has substantial rare earth resources, particularly in Lai Chau province. Mr. Tran Dinh Hai, Chairman of Hung Hai Group, highlighted the abundant resources in North Nam Xe, Nam Xe, and Dong Pao areas. The primary challenge has been the technology required for rare earth processing. Recently, Hung Hai Group has invested in advanced processing technologies to maximize resource value while meeting environmental protection standards.
Strategic partnership with Trident Global Holdings
Hung Hai Group’s partnership with Trident Global Holdings of Korea marks a significant step forward. Trident integrates water, exhaust gas, and radioactive waste treatment technologies from American corporations Zoetic and Langenburg. This partnership supports Hung Hai in optimizing production processes, improving mining and processing efficiency and meeting environmental requirements.
Agreement details and Government support
The strategic cooperation agreement between Hung Hai Group and Trident Global Holdings encompasses technology transfer, finance, and risk management. The Ministry of Science and Technology has licensed the transfer of rare earth deep processing technology, meeting the standards of TREO ≥ 95%. This collaboration aligns with the Communist Party and Government’s policies, promoting safe, sustainable, and effective rare earth mining and processing.
Economic and technological benefits
This partnership not only brings economic benefits but also ensures that Vietnam accesses modern technology for sustainable and efficient rare earth processing. It enhances Vietnam’s competitiveness in the global rare earth supply market and supports the advancement of the semiconductor industry, particularly in electronics, telecommunications, and high-tech equipment production.
The cooperation between Hung Hai Group and Trident Global Holdings is a pivotal development for Vietnam, aligning with national policies and promoting technological advancement in the rare earth sector.
