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Vietnam boosts rare earths output by tenfold - data

Vietnam boosts rare earths output by tenfold - data

13 Sept 11:07 Key points summarised by AI
  • Vietnam's rare earth output dramatically surged tenfold in 2022, reaching 4,300 tonnes and elevating it to the world's sixth-largest producer from tenth, according to U.S. data.
  • This significant increase is driven by global companies, including Australian Strategic Materials, seeking to diversify their supply chains and reduce reliance on China for these critical industrial metals essential for EVs and electronics.
  • Despite diversification efforts, China remains a key beneficiary, doubling its imports of rare earth elements from Vietnam, highlighting its continued influence in the global rare earth market.
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