Rare-earth mining promises lucrative economic returns

Viet Nam decided to partner with Japan in rare earth exploitation. How will the process begin?

The two sides will co-operate to collect rare earth elements, primarily for use by Japan, while the rest will be for export. (Rare earth metals are a collection of 17 chemical elements in the periodic table.) An agreement will be made to divide up the export turnover. At the moment we can't calculate the economic value of the exploitation as it depends on the scale of exploitation. With the current availability, economic potential from the exploitation will be huge. Political agreement is one matter but it is more important how both sides share the benefits once the project is implemented.

Which Japanese companies have been to Viet Nam to learn about rare earth? What is the co-operation model?

Demand for rare earth is pressing for Japan. Some Japanese companies such as Toyota Tsusho and Sojitz have been to Viet Nam to learn about rare earth. We are expecting to welcome some more corporate giants from Japan.

When Viet Nam and Japan signed a deal on nuclear co-operation, a consortium of [13] Japanese companies formed the International Nuclear Energy Development of Japan Co Ltd to move forward and partner with Viet Nam to build a nuclear reactor in central Ninh Thuan Province. A similar consortium will be established to exploit rare earth.

There are differing opinions about bauxite exploitation. How about rare earth?

Rare earth elements are very high value minerals. However, that doesn't mean we will automatically make money through exploitation. That's why we need to take cautious steps.

Is the exploitation complicated? Does it require the same technologies that are used in bauxite exploitation?

It is much more complicated. Due to their high value, we can't just dig them up as we do with bauxite. Output is not measured in tonnes but in grammes.

When we say "exploitation", we mean the exploitation of pits and mines. The treatment of rare earth requires high technologies. The content of ore elements in rare earth is really low, thus, we need to select and refine ore carefully.

How does mining rare earth impact the environment?

Generally speaking, the exploitation of minerals always affects the environment. Rare earth elements contain certain substances that might damage the environment even more seriously than bauxite substances.

However, we should rest assured that Japanese enterprises will always take the lead in environmental protection.

In terms of economic efficiency and environmental impact, is rare earth or bauxite exploitation more beneficial?

Rare earth is not found everywhere around the nation. It is concentrated in certain areas. The scale and output of mining rare earth won't be as large as that of bauxite but I'm convinced that it will be highly efficient economically. Also, all the Japanese partners are prestigious.

Why should we mine the rare earth now? Why don't we leave the work to future generations?

It is time to exploit and use them [rare earth minerals]. If the mining is proper and effective, it will serve future development. Any exploitation of natural resources should serve the national development. Rare earth exploration can be deployed this year and by 2015 we can start obtaining elements of rare earth. — VNS