The country of Vietnam lies on the eastern side of the Indochinese peninsula and extends in a
thin band of land that follows the coastline for almost 2000 kilometers.1 In the 1970’s Vietnam
was centre in the world stage with the dispute between the communist north and anticommunist south, however by 1975 the communist north took over the southern part of Vietnam
and the country has been communist ever since.2 There are around 70 different types of
minerals that are found in Vietnam including bauxite, copper, chromium, gold, titanium, and
other key industrial minerals.3
Vietnam has made established strategic trading partners including Japan to allow for the
exploration and mining of rare earth metals that are vital in the development of high tech
products like computers, and cell phones.4 Up until 1996 the extent of Vietnams mineral
reserves was unknown, the Department of Geology and Minerals of Vietnam (DGMV)
conducted a survey of mineral reserves and found that precious minerals were found in
significant quantities in the northern part of Vietnam.3
The mineral industry is a key part of Vietnam’s economy with about 219,000 employees and
contributed around 6.4% of the country’s GDP in 2002.3 In 2005 the Vietnamese government
passed decree 160 that revamps Vietnam’s mining policy and aims to produce a better mining
infrastructure and allow for an increase in commerce development. A large part of the decree
creates “favorable conditions” for state-owned operations with an aim to increase and lead an
industry into the development and advancement into mining and mineral processing.5
The Vietnamese have begun to build a plan to increase rare earth metal exportations but are
under the influence of other larger markets in other areas of the world. China exports 97% of the
world’s rare earth metals and is a lead controller of the world’s supply and demand of the rare
earth metal economy.4 In 2010 China stopped the shipment of rare earth metals and strained
the global demand for rare earth minerals and metals. This created a high demand that allowed
countries like Vietnam to begin exports to other countries that required the rare materials, and
spawn their own mineral industry.6
The UN has pushed for increased development in regional and international trade that would
boost not only the economy of Southeast Asia but also the economy and governmental
development of African countries.7 There are also cases were the UN has lobbied for the
incensement of private sector mining as well as private investments from large publically traded
companies into mining operations particularly in Africa but also in the southern portions of Asia.8
1
Mineral resources of Vietnam
CIA World Fact book
3
The Mineral Industry of Vietnam
4
BBC News-Rare earths supply deal between Japan and Vietnam
5
Vietnam-new mineral law
6
The New Fuelist
7
Yearbook of the United Nations, Volume 60, Volume 2006
8
United Nations Technical Cooperation
2