In order to strengthen the supply chain of important minerals, on October 26, the South Korean Ministry of Foreign Affairs confirmed that the country and the US have launched a joint research project on the exploitation of rare earth elements in Vietnam.
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| Rare earth oxide samples are being studied in Vietnam. (Source: Reuters-Yonhap) |
South Korea and the United States have launched a joint research project on rare earth element mining in Vietnam, the South Korean Foreign Ministry confirmed on October 26, as part of efforts to boost cooperation to strengthen the supply chain of important minerals.
According to a source reported by the Korea Times, South Korea and the US will send researchers and geologists to Hanoi for three months starting in October 2023 to study the extraction of rare earths and other important elements from coal ash, within the framework of the US Embassy's Science Fellows (ESF) project.
The US has been conducting ESF projects since 2001, but this is the first time Washington has sent scientists to a third country in collaboration with a foreign partner, the South Korean Foreign Ministry added. US allies are also working closely with the Vietnamese government to facilitate joint research activities.
The project will seek to promote the use of environmentally friendly technologies to mine rare earth elements, as well as enhance international cooperation in the processing of important minerals, the South Korean Foreign Ministry said.
This cooperation also enhances efforts within existing multilateral mechanisms on critical minerals, such as the US-led Mineral Security Partnership (MSP) to which US allies have signed up.
The MSP was implemented by the US last year to boost global supplies and spur investment in critical minerals, such as lithium, cobalt and nickel. The MSP is also said to be aimed at reducing the risk of dependence on China for raw materials, especially rare earth supplies, where China is a leader.
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