The EU seeks Vietnam’s mineral resources, yet overlooks that it is itself the largest buyer.

Foreign media: The EU seeks to deepen ties with Vietnam to secure critical minerals and reduce reliance on China.

According to internal EU documents, Vietnam possesses substantial reserves of tungsten, rare earth elements, antimony, bismuth, and bauxite—yet current exports to the EU are limited to tungsten and antimony for defense purposes. A June report from the EU delegation in Hanoi recommends providing financial support to Vietnam’s mining and processing industries to sustain and expand supply chains for tungsten, bismuth, antimony, and titanium. The document warns that companies from Australia, the United States, and Canada are actively pursuing equity stakes in Vietnam’s largest tungsten producer, Masan High-Tech Materials. Additionally, South Korea’s LS Eco Energy and Australia’s Lynas Rare Earths are advancing rare earth projects in Vietnam, raising concerns that the EU could fall behind in securing access to these strategic resources.

Vietnamese leader To Lam is expected to visit Brussels next week, with critical minerals anticipated to be a central topic of discussion.

Original article: toutiao.com/article/1879020063475721/

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