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Rare earth processing plant to be built

Update: December, 06/2012 - 10:32

QUANG NINH (VNS)— A hi-tech rare earth processing plant will be built in Ha Long city in the northern province of Quang Ninh, according to an agreement signed on Tuesday by Global Rare Earth, an affiliate of Viet Nam's Tuan Chau Group, and the Singaporean company Winglee Resources PTE.

The US$35.5 million plant will sit on a 50,000 square metre site in the region's Viet Hung industrial zone and is expected to be completed in the next eight months.

In the first phase, materials for the plant will be imported or purchased from rare earth mines as stipulation.

Rare earth elements are crucial for the production of components used in mobile phones, solar batteries, high-efficiency electric motors, flat-screen televisions, military equipment and other clean energy technologies.-VNS

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