Strategic minerals, rare earths and exports: the strategic and important minerals regime, rare earths as a special strategic mineral since 1 January 2026, who may explore and mine them, Prime Ministerial approval, the 90% TREO processing rule and the ban on raw exports, the export of other minerals, Vietnam's rare-earth position, and the options for foreign partners

Strategic and important minerals

The Law on Geology and Minerals treats a subset of minerals as strategic and important (khoáng sản chiến lược, quan trọng). Article 108(1) of Decree No. 193/2025/ND-CP defines them as radioactive minerals, rare earths and other essential minerals serving sustainable socio-economic development and the strengthening of defence and security, and leaves the list to be approved by the ministry with MOIT, the Ministry of Construction and other ministries for each period. Since the transfer of geology and minerals on 15 September 2026, both roles sit within MOIT. The list matters because it switches on a separate layer of rules on top of the ordinary Group I regime.

Article 65 of the law requires a miner of strategic and important minerals to perform the ordinary obligations of a licence holder, to satisfy, if a foreign investor, the market-access rules of the investment law, and to submit to the direction of the competent authority in line with the socio-economic strategy. Areas of strategic and important minerals are non-auction areas (Article 143(7) of the decree), so licences are granted by selection rather than competition. Unpublished geological data on radioactive minerals and rare earths is classified under the law on State secrets (Article 108(2)(b) of the decree), which affects what a foreign party may see in due diligence.

Who may explore and mine strategic minerals

Article 109 of the decree admits to the exploration of strategic and important minerals an organisation that meets Article 37 of the law and the financial capacity rule in Article 26 of the decree, that has no recent serious violation in mineral activities or criminal liability in the last five years, and, in the case of a foreign investor, that is identified under an intergovernmental agreement. Exploration services for such minerals may be performed only by State exploration units or by organisations with specialists of at least five years' experience and the full range of modern exploration methods. Article 110 then requires a miner of strategic and important minerals to invest directly or jointly in an approved mining and processing project, to have mining experience, and to present a project with a qualified mine director, a feasible financing plan, modern equipment, environmental treatment and automated monitoring.

The Prime Minister's role is broad. Under Article 108(4) of the decree the Prime Minister approves the grant of exploration and mining licences for special strategic minerals to qualifying organisations; approves the mode of cooperation, scale and scope of exploration, mining, processing and use of strategic minerals under intergovernmental agreements, applying a principle that mining rights are granted in priority to domestic enterprises, which cooperate with foreign investors in processing and use; and decides which domestically mined strategic minerals may be exported and after what degree of processing, on MOIT's proposal (Article 108(5)).

Rare earths since 1 January 2026

Law No. 147/2025/QH15 singled out rare earths. The National Assembly's stated aim was strict management under a closed value chain in which exploration, mining and processing are linked so that raw ore is not exported, with modern low-emission technology and unified management by the Government. Decree No. 21/2026/ND-CP of 16 January 2026 implemented that aim by adding Articles 110a to 110g to Decree No. 193/2025/ND-CP (FAQ 108).

Article 110a requires all rare-earth activity to follow a National Rare Earth Strategy and four principles: protection of resources and the environment; mining and processing linked to deep processing, higher added value and technological self-reliance; no export of rare-earth minerals that do not meet the deep-processing standards set by MOIT, with only deep-processed products on the Prime Minister's list exportable; and the linking of exploration and mining with workforce training and the domestic processing industry. Article 110b makes rare-earth planning part of the Group I mineral planning and requires rare-earth mining to be tied to a processing project producing at minimum total rare-earth oxides, hydroxides or salts with TREO of 90% or more, while encouraging production through to separated individual rare-earth elements.

Articles 110c and 110d require the Prime Minister's written approval before any rare-earth exploration licence, mining licence or transfer of rights is granted; the time taken to obtain that approval does not count towards the processing period. Exploration of rare earths with State funds is planned by the ministry, and exploration results must be appraised and recognised before mining is licensed. Processing, meaning beneficiation, refining and separation, may take place only in facilities licensed under the law that meet technology, environmental and radiation-control standards, and miners and processors report their output and products monthly to the ministries. Article 110đ provides for rare-earth reserve areas, Article 110e centralises rare-earth data and permits international cooperation only with partners, organisations and countries the Prime Minister approves, and Article 110g allocates responsibilities among the Government, ministries and provinces. Rare earths are reserved for enterprises the State designates or permits (FAQ 106).

The export of other minerals

Minerals that are not rare earths are not banned from export, but they are not freely exportable either. Under Decree No. 193/2025/ND-CP, MOIT sets the list and technical standards for Group I and industrial minerals that may be exported, the Ministry of Construction does so for construction minerals, and the Prime Minister decides which strategic minerals may be exported and after what processing. An exporter must therefore show that the product is on the relevant list, that it meets the specified grade or degree of processing, and that it has a lawful origin, because Article 78 of the law requires minerals entering processing to come from licensed mining. Customs clearance is conditional on those documents.

Many ores and concentrates also bear export duty under the export tariff in Decree No. 26/2023/ND-CP, most recently amended by Decree No. 201/2026/ND-CP, and natural resources tax is charged on the mined product whether it is sold at home or abroad. The policy direction is consistent: higher duty and tighter lists for raw and lightly processed minerals, lower or nil duty for products processed in Vietnam. Duty rates and classification are explained in Customs and import duties; an exporter should confirm the HS code and the current rate for its specific product, because the 2026 amendment changed several mineral lines.

Vietnam's rare-earth position in outline

Vietnam is often described as holding some of the world's largest rare-earth reserves, but the figures should be treated with caution. The United States Geological Survey long estimated Vietnamese reserves at about 22 million tonnes, the second largest in the world, and then cut its estimate to about 3.5 million tonnes in its commodity summary published in early 2025. Commercial production has been small. The best-known deposits are in the northern uplands, including Dong Pao in Lai Chau and Yen Phu in what was Yen Bai province before the 2025 provincial mergers, and several projects have been delayed by processing, environmental and regulatory issues. Rare-earth ores can contain thorium and uranium, which brings the Law on Atomic Energy into play.

The 2026 regime should be read against that background. By requiring processing to 90% TREO in Vietnam, banning raw exports and placing every licence before the Prime Minister, the State has chosen to develop rare earths slowly and on its own terms, with domestic enterprises holding mining rights and foreign partners admitted for technology, processing and capital through approved arrangements. Investors should expect long timetables, close scrutiny of the partner's nationality and technology, and a strong preference for projects that build downstream capacity, such as separation plants and magnet manufacture, inside Vietnam.

Routes for a foreign partner

Four routes are realistic. First, an intergovernmental framework: where Vietnam and the investor's state agree cooperation on strategic minerals, the agreement can identify foreign investors for exploration (Article 109(1)(c)) and frame the scale and mode of cooperation (Article 108(4)(b)), and areas covered by such agreements are non-auction areas (Article 143(6)). Second, a processing partnership with a Vietnamese enterprise that holds or is selected for the mining rights, in which the foreign investor supplies separation technology and capital to a licensed processing facility, consistent with the priority for domestic miners cooperating with foreign processors. Third, downstream manufacturing, such as alloys, magnets or components made from processed rare-earth products, which is an ordinary manufacturing investment requiring an IRC and is not itself a mineral activity, though the supply of feedstock depends on the licensed chain. Fourth, offtake and finance: purchasing deep-processed products on the Prime Minister's export list, or financing a domestic project against offtake, without holding mineral rights.

Each route needs the Prime Minister's approval of the partner where it involves international cooperation in rare earths (Article 110e(5)), so the counterparty's nationality, the technology to be transferred and the security implications are assessed at the highest level. A foreign investor should also expect technology transfer obligations to be negotiated, and should check the transfer of technology rules in Technology transfer and licensing.