Inside Vietnam's plans to dent China's rare earths dominance

Vietnam plans to restart its largest rare-earths mine next year with a Western-backed project, aiming to reduce China's dominance in the sector. The government intends to launch tenders for multiple blocks of its Dong Pao mine, with the goal of developing a rare-earths supply chain. Vietnam has the second-largest rare-earth deposits but has not tapped into them due to China's near-monopoly on the global market. The move comes as many nations seek to derisk their supply chains and reduce reliance on China. Blackstone Minerals plans to invest around $100 million in the project.

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Frequently Asked Questions

Question: What are Vietnam's plans to dent China's rare earths dominance?

Answer: Vietnam's plans to dent China's rare earths dominance include restarting its biggest rare-earths mine next year with a Western-backed project that could rival the world's largest. This move is aimed at reducing China's stronghold on the rare earths market.