South Korea’s Ministry of Foreign Affairs and the U.S. Department of State have launched a joint scientific research project in Vietnam for extracting rare earth elements.
In a Thursday statement, the South Korean foreign ministry said that the project, the first of its kind, followed the joint “Embassy Science Fellows (ESF) Program” of both countries. The research will promote the use of eco-friendly technologies to extract rare earth elements and other critical elements from coal ash, it said.
“The cooperation will bolster international cooperation in enhancing sustainable extraction and processing of critical minerals by advancing deployment of clean technologies in the global supply chain of critical minerals.
“This collaboration complements existing multilateral critical minerals dialogue mechanisms, such as the Minerals Security Partnership, in which both South Korea and the U.S. are active participants,” the foreign ministry said.
It said the project in Vietnam was an important milestone in expanding the science and technology cooperation between South Korea and the U.S. and in promoting cooperation with other countries. The South Korean and U.S. embassies in Hanoi were working closely together to support research activities on the ground, the statement added.
The joint project will be carried out by the Korea Institute of Geoscience and Mineral Resources (KIGAM) and the U.S. Geological Survey (USGS) over three months starting October. South Korea and the U.S. are working closely with the Vietnamese government to facilitate this joint research, the statement affirmed.
Chief economist of the U.S. Department of State Emily Blanchard said at a Wednesday press briefing in Hanoi that the U.S. is willing to help Vietnam in preparing auctions for rare earth mines. Vietnam can play a key role in this sector, she added.
She expected Vietnam to develop the rare earth sector suitably and simultaneously ensure the environment protection and laborers' rights.
The U.S. Geological Survey estimates rare earth reserves in Vietnam at about 22 million tons, ranking second in the world behind China. However, despite the great potential, rare earth exploitation in Vietnam has been limited in scope. With its current technology, Vietnam can only export raw rare earth minerals. It cannot separate their elements or process them for refinement, according to the Ministry of Natural Resources and Environment.
“The U.S. sees Vietnam as a potential critical nexus in global supply chains when it comes to critical minerals and rare earth elements, and it’s an “exciting” area of cooperation, U.S. ambassador to Vietnam Marc Knapper said recently.