Azernews.Az

by Alimat Aliyeva

The Vietnamese parliament on Thursday approved amendments to the Geology and Minerals Law that place rare earth elements under strict state control and prohibit the export of unprocessed ores, Azernews reports, citing foreign media.

The revised law, which will take effect on January 1, 2026, classifies rare earths as a strategic national resource. All exploration, mining and processing activities must align with Vietnam’s national rare earth development strategy and long-term master plan.

Under the new regulations, only state-designated organizations and enterprises will be authorized to survey, exploit and process rare earth deposits. The government will control access to geological data, regulate trade, and maintain strategic reserves of the minerals.

The legislation also encourages international cooperation, particularly in research and advanced processing technologies—an area where Vietnam aims to reduce its dependence on foreign partners and move up the global value chain.

Vietnam currently holds an estimated 3.5 million tons of rare earth reserves, making it the sixth-largest holder worldwide, according to the U.S. Geological Survey. Analysts note that with demand for rare earths soaring due to electric vehicles, renewable energy technologies, and electronics manufacturing, the new law could position Vietnam as a more influential player in the global supply market.