The center for rare earth research and technology transfer will open tomorrow with Japanese technology applied to extract rare earth from ores for export to Japan.
According to the embassy of Japan in Vietnam, this center is a cooperation project between Japan and Vietnam under the rare earth cooperation agreement between the two countries approved by the Prime Minister last October. Vietnam holds huge rare earth potential but its extraction has remained limited.
Located in Hanoi City’s Dan Phuong District, the center will serve as an indispensable facility in the application of Japan’s technology to extract rare earth. The upgrade cost of the building center came from Vietnam’s budget while Japan’s Ministry of Economy, Trade and Industry provided equipment worth 420 million yen (around US$5.3 million) for the project last year and will provide 75 million yen (US$940,000) for maintenance this year.