Trident Global Holdings, a Korea-based company, announced a groundbreaking major strategic joint venture with Zoetic Global. The collaboration aims to co-develop premium rare earth mines, ensuring that global and US companies have access to these critical elements.
The joint venture has the potential to generate billions in economic value and to implement sustainable practices in the rare earth mining industry for several industries, including electric vehicles.
In this venture, Trident Global Holdings, which already has a strategic cooperation development agreement with Vietnam’s Hung Hai Group — the owner of three mines in Lai Chau Province, northern Vietnam — will partner with Zoetic Global to deliver the latest, environmentally-friendly technologies to maximize the efficiency of rare earth production.
These mines, including Bac (North) Nam Xe, Nam (South) Nam Xe, and Dong Pao, collectively possess confirmed reserves totaling seven million metric tons of valuable rare earth elements.
Through this collaboration, Zoetic Global and Trident Global Holdings will develop and operate these important mines using innovative solutions to remediate waste streams, making the process cleaner and more sustainable. The venture will access approximately seven percent of the known rare earth deposits in the world with a high percentage of the heavier, more valuable rare earth elements.
Key global and US industries will secure access to:
- Electric vehicles: Supplying critical components for batteries and motors, contributing to the growth of the electric vehicle market.
- Electronics: Providing essential materials for the production of smartphones, computers, televisions, and other advanced electronic devices.
- Semiconductors: Rare earth elements are critical for semiconductor manufacturing and will help drive advances in artificial intelligence chip design.
- Renewable energy: Rare earth magnets are used in wind turbines and other clean energy technologies aimed at reducing carbon emissions.
- Aerospace and defense: Strengthening the supply chain for critical defense applications.
“Vietnam holds approximately 20 percent of the world’s rare earth reserves. This collaboration, along with Hung Hai Group, will unlock significant financial value for Vietnam, profoundly impacting and benefiting the Vietnamese government and its people by introducing new mining business ventures and technologies. This partnership will also ensure the sustainable management of rare earth elements for the global marketplace,” said Sam Chi, CEO of Trident Global Holdings. “We are thrilled about our strong collaboration with Zoetic Global, especially as the demand for rare earth elements is expected to surge over the next decade.”
Filed Under: Batteries, Technology News