South Korea's Trident forms joint venture with US' Zoetic to develop rare earth mines in Vietnam

Trident Global Holdings, which already has a strategic cooperation development agreement with Vietnam's Hung Hai Group — the owner of three mines in Lai Chau province, northern Vietnam, will partner with Zoetic Global to deliver the latest, environmentally friendly technologies to maximise the efficiency of rare earth production. These mines, including Bac (north) Nam Xe, Nam (south) Nam Xe, and Dong Pao, collectively possess confirmed reserves totaling seven million metric tonnes of valuable rare earth elements.

Zoetic Global and Trident Global Holdings will develop and operate these important mines utilising innovative solutions to remediate waste streams, making the process cleaner and more sustainable. The venture will access approximately seven per cent of the known rare earth deposits in the world, with a high percentage of the heavier, more valuable rare earth elements. Key global and US industries will secure access to rare earth elements, including semiconductors, renewable energy, aerospace and defence, electronics, electric vehicles, and medical imaging and biotech.

"Vietnam holds approximately 20 per cent of the world's rare earth reserves. This collaboration, along with Hung Hai Group, will unlock significant financial value for Vietnam, profoundly impacting and benefiting the Vietnamese government and its people by introducing new mining business ventures and technologies. This partnership will also ensure the sustainable management of rare earth elements for the global marketplace," said Sam Chi, CEO of Trident Global Holdings. "We are thrilled about our strong collaboration with Zoetic Global, especially as the demand for rare earth elements is expected to surge over the next decade."

"We were inspired by the CHIPS Act, which underscores the critical need to secure and strengthen our supply chains," said Zoetic Global CEO Avery Hong. "The disruptions from the COVID-19 pandemic have highlighted the importance of ensuring supply chain integrity. By on-shoring and re-shoring critical technologies and materials, we can bolster economic resilience and reduce dependency on foreign sources."

"Rare earth element deposits are found in diverse regions globally, but technical know-how and access to environmentally sound technologies have been lacking," said Jerome Ringo, co-founder and executive chairman of Zoetic Global. "Zoetic has secured power and remediation solutions that will be transformative to the rare earth mining industry."

Trident Global Holdings and Zoetic Global are committed to establishing a comprehensive value chain that prioritises sustainability and the deployment of new, environmentally responsible technologies for extracting and processing rare earth materials.

South Korea's Trident obtains rights to rare earth mines in Vietnam Trident Global Holdings, a prominent South Korea-based conglomerate with interests in mining, real estate, and carbon capture technology, has acquired rights to three significant rare earth element mines in Vietnam.

LS Eco Energy diversifies its rare earth supply to Vietnam On January 10, South Korea's LS Eco Energy announced that it has signed a rare earth oxide purchase agreement with Vietnamese mining company Hung Thinh Minerals.

Vietnam yet to tap rare earth resources Vietnam boasts a large reserve of approximately 30 million tonnes of rare earth, but the country has yet to conduct thorough research about how to exploit and process it effectively.