Japan and Vietnam partner on critical minerals to bypass China
The pact targets joint exploration and refining across Vietnam's 22 million tons of rare earth deposits, aiming for $80 billion in trade by 2030.
RMBy Ryo Matsuda, Japan correspondent, companies and markets··Updated November 10, 2026·3 min read
ShareLinkedInXWhatsAppEmailA worker operates machinery at an industrial processing plant as Vietnam works to develop its critical mineral supply chain. (AI-generated image)
Japan's Ministry of Economy, Trade and Industry published details of an agreement with Vietnam on Nov. 10 to establish joint critical mineral supply chains, targeting alternative rare earth processing channels outside China.
Vietnam holds an estimated 22 million metric tons of rare earth reserves, accounting for roughly 18% of global deposits, according to the United States Geological Survey. Most of those reserves remain unmined due to processing constraints.
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Japan correspondent, companies and markets — Ryo Matsuda covers Japanese corporate results, capital allocation and M&A, working from filings and earnings material rather than guidance calls.
