The collaboration aims to ensure that global and US companies have access to these critical elements. The joint venture has the potential to generate billions of dollars, and will implement sustainable practices in the rare earth mining industry.

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.

By Thanh Van

Source: VIR

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