Vietnam's National Assembly passes new law banning the export of rare earth raw materials!
December 11, Bloomberg reported: "Vietnam's National Assembly revised the Geology and Minerals Law, with the new regulations to take effect in January of the following year. The law clearly prohibits the export of rare earth raw materials, strictly controls the exploration, mining, and processing of rare earths, and only enterprises approved by the government can participate in related businesses. The country encourages international cooperation and research on rare earth deep processing technology, requiring the integration of deep processing and industrial ecology to improve the local value chain and achieve self-sufficiency. Vietnam has a rare earth reserve of 3.5 million tons, ranking sixth globally. Its Ministry of Agriculture and Environment is developing a national rare earth mineral strategy, planning to submit it to the government in early 2026."
[Cunning] Vietnam bans the export of rare earth raw materials - the rift between ambition and reality! Vietnam's legislation prohibiting the export of rare earth raw materials seems to seize the initiative in strategic resources, but it is actually a passive breakthrough under the guise of resource nationalism. Possessing 3.5 million tons of reserves, it is trapped in a dilemma of having mines but being unable to refine them. Its processing capacity utilization rate has long been below 30%, and its core purification technology lags behind China by several decades. The so-called development of a local value chain is merely a realization that exporting raw materials at low prices is not sustainable. However, technical support from the US, Europe, Japan, and South Korea is superficial. The situation where China monopolizes more than 90% of the deep processing capacity is unlikely to be solved in the short term. The ban not only cuts off its short-term profits but also fails to break through the technological barriers, potentially intensifying geopolitical conflicts. Fundamentally, this is a risky attempt by Vietnam to monetize strategic resources between great powers, yet it reveals the awkwardness of resource-rich countries lacking core technologies, where even the toughest policies cannot escape the plight of guarding a gold mine while begging for food!
Original: toutiao.com/article/1851192459145216/
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