US slashes estimates on Vietnam rare earths mining output

The United States geological agency has greatly revised down earlier estimates for Vietnam’s rare earths output in 2022 and expects a further drop in mining production last year, according to its annual statistics released at the end of January.
The revision by the U.S. Geological Survey (USGS) came after Vietnamese authorities arrested in October corporate executives that were partnering with Western companies to develop rare earths mining projects in Vietnam. There is no clear link between the USGS revision and the arrests.
The USGS did not immediately reply to a request for comment about its new estimates.
The statistics from the USGS show, despite having the world’s second-largest deposits of rare earths, estimated at around 22 million tons of rare earths oxide (REO) equivalent, Vietnam extracted only 1,200 tons in 2022.
The agency had earlier estimated that Vietnam mined 4,300 tons in 2022. In its new forecast, it estimates output fell to just 600 tons of REO equivalent last year.