The European Union is exploring closer cooperation with Vietnam to secure critical minerals and reduce dependence on China, according to internal EU documents reviewed by Reuters.
The documents recommend supporting Vietnamese mining and processing projects through financing and technical assistance. They identify opportunities involving tungsten, bismuth, antimony and titanium. The European Commission confirmed it was assessing potential cooperation, while the documents also flagged regulatory uncertainty and investment risks. No final supply agreement was announced. (reuters.com)
The initiative fits into a wider European effort to strengthen access to materials essential for defence, aerospace, automotive manufacturing and renewable energy. Earlier this month, the Commission selected 46 additional strategic raw-material projects for faster permitting and help accessing finance. Those projects are expected to require approximately €21.1 billion in investment. (reuters.com)
Europe’s strategy combines overseas partnerships with greater domestic production and recycling. Under its Critical Raw Materials Act, the bloc aims by 2030 to mine 10%, process 40% and recycle 25% of its annual requirements for strategic raw materials. (reuters.com)
Vietnam could therefore become another component of Europe’s diversification effort, although turning potential cooperation into dependable supplies will require investment and workable projects.
