Foto: Freepik
Last year, Vietnam was the world’s second-largest tungsten producer after China, producing about 3,000 tons, according to the U.S. Geological Survey.
Vietnam also has other significant deposits of critical minerals, notably bauxite and titanium, and is home to the world’s titanium deposits.
This could give Hanoi leverage in its quest to develop the tungsten industry needed to power advanced technologies, electric vehicles and a broader shift to cleaner technologies.
Last February, it tightened export controls on tungsten to protect its own domestic stockpiles. The Trump administration has stepped up efforts to reduce reliance on Chinese supply chains. And tungsten material has been the focus of much of the country’s attention. Its price in Europe has risen sharply in recent weeks relative to China.
The European Union, the U.S. and Australia are seeking access to the critical material for Vietnam. In talks with the EU in January, the two sides agreed to deepen cooperation, including by promoting sustainable mining and processing technologies.
“The EU stands ready to support Vietnam in developing its own independent value chain to ensure its strategic autonomy and ensure that both the EU and Vietnam have the necessary critical raw materials for the energy and digital transition,” Julien Guerrier, EU ambassador to Vietnam, said, Bloomberg writes.
