Korea, Vietnam to develop rare earth elements

Korea and Vietnam have agreed to conduct research that could lead to the joint development of rare earth elements in the Southeast Asian country. The Ministry of Knowledge Economy said an agreement was signed between the state-run Korea Institute of Geoscience & Mineral Resources and its Vietnamese counterpart to study geological features and search for minerals in the region of Nghe An. The region in the northern part of Vietnam may hold commercially viable deposits of rare earth elements that are vital to the production of high-tech products, such as semiconductors and display panels. The project is expected to start in 2012, with initial operations to begin in 2016. (December 22, 2010)