HANOI - The Vietnamese parliament on Thursday adopted amendments to the geology and minerals law that place rare earths under strict state oversight and ban the export of unprocessed minerals, local media VnExpress reported.

The amended law, which will take effect on Jan 1, 2026, designates rare earths as a strategic resource, requiring all survey, mining and processing activities to comply with the national rare earth strategy and master plan.

According to the law, only state-designated organizations and enterprises are permitted to explore, exploit and process the minerals, while the state will manage geological data, regulate trade and maintain appropriate reserves.

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International cooperation in research and advanced processing technologies is encouraged under the legislation.

Vietnam holds about 3.5 million tons of rare earth reserves, ranking sixth globally, according to a report by the US Geological Survey.