The Vietnam Geological Department (VGD) and the US Department of State's Bureau of Energy Resources partnered to host a technical training session on economic geology and mineral resource reserve valuation methods in Hanoi on March 21.

The Ministry of Public Security said it was conducting a specialised investigation to clarify illegal acts in the exploitation, processing and consumption of rare earth ores and iron ores of Thai Duong Group Joint Stock Company.

The Dong Pao rare earth mine in Lai Chau Province, covering over 132 hectares of land, is expected to become operational soon, after 10 years of suspension since it was licensed.

Vietnam can utilise its abundant reserves of rare earth materials to lure in high-tech foreign investments.

The applications for rare-earth element products have developed strongly in recent decades, especially in the field of agriculture in which they are used to create clean, safe, and effective agricultural products.

Many countries, including Japan, once showed interest in Vietnam’s rare earth materials.

According to experts on geology and minerals, Vietnam's rare earth reserves are large, but have not been exploited effectively or exported.

Vietnam plans to more than triple the amount of electricity it produces from renewable sources and push for a 26% increase in household solar energy usage by 2030, Prime Minister Nguyen Xuan Phuc told Reuters in an interview.