EU seeks closer Vietnam ties to diversify critical mineral supplies
An internal EU document recommends financial support for Vietnamese mining and processing projects as Europe seeks alternatives to Chinese supplies.
The European Union is seeking stronger ties with Vietnam to secure critical minerals and lessen its reliance on China, according to an internal EU document seen by Reuters. The document proposes support for Vietnam’s mining and processing industries to protect and expand European access to strategic raw materials.
Prepared by the EU delegation in Hanoi and dated June 2026, the document identifies Vietnamese reserves of tungsten, rare earths, antimony, bismuth and bauxite, which can provide gallium. These materials serve industries including defence. Vietnam’s mineral exports to Europe have mainly consisted of tungsten and antimony.
A European Commission spokesperson said the commission was examining potential cooperation with Vietnam on critical raw materials. Four European and Vietnamese officials told Reuters that the issue could be discussed during a planned Brussels visit by Vietnamese leader To Lam. The visit had not been officially announced.
The document also flags competition for Vietnamese mineral assets. It cites unsuccessful attempts by Australian, US and Canadian entities to acquire a majority stake in Masan High-Tech Materials’ tungsten operation, a major supplier to Europe, particularly Germany. Masan sold a 4.99 per cent stake to Elmet Group, which supplies tungsten for US defence reserves, and was reportedly discussing another 5 per cent sale to a non-European foreign investor.
Recommended measures include loans, grants, technical assistance and export credit insurance for critical mineral projects, as well as resource mapping. The document also identifies investment risks, including limited transparency over Chinese involvement, regulatory and political obstacles, and technology-transfer requirements.
