Trident Global Holdings, a prominent Korea-based firm, has announced a major strategic joint venture with Zoetic Global to co-develop premium rare earth mines. This collaboration is set to provide global and U.S. companies with access to these essential elements while aiming to generate substantial economic value and integrate sustainable practices into the rare earth mining sector.
Trident Global Holdings, which already has a strategic cooperation agreement with Vietnam’s Hung Hai Group—owner of three rare earth mines in Lai Chau Province—will join forces with Zoetic Global to introduce cutting-edge, environmentally friendly technologies for efficient rare earth production. The mines involved in this venture, including Bac (North) Nam Xe, Nam (South) Nam Xe, and Dong Pao, collectively hold confirmed reserves of 7 million metric tons of valuable rare earth elements.
The joint venture aims to deploy innovative solutions to minimize waste and enhance sustainability in rare earth mining. With access to around 7 percent of the world’s known rare earth deposits, including a high proportion of valuable heavy rare earth elements, this partnership will support various key industries:
- Semiconductors: Vital for advancing artificial intelligence chip design.
- Renewable energy: Essential for manufacturing rare earth magnets used in wind turbines and other clean energy technologies.
- Aerospace and defense: Enhancing the supply chain for critical defense applications.
- Electronics: Providing crucial materials for smartphones, computers, televisions, and other advanced devices.
- Electric vehicles: Supplying key components for batteries and motors, boosting the electric vehicle market.
- Medical imaging and biotech: Supporting advancements in technologies such as MRI and PET scanners.
“Vietnam holds approximately 20 percent of the world’s rare earth reserves. This collaboration, in partnership with Hung Hai Group, will unlock significant financial benefits for Vietnam, impacting the Vietnamese government and its people by introducing new mining ventures and technologies. Our partnership with Zoetic Global will also ensure the sustainable management of rare earth elements for the global market,” said Sam Chi, CEO of Trident Global Holdings. “We are excited about this collaboration, especially as demand for rare earth elements is anticipated to rise significantly over the next decade.”
Tim Ryan, former Ohio Congressman and Zoetic Global’s Chief Global Business Development Officer, added, “One of Zoetic’s primary objectives is to ensure that U.S. industries have equal access to critical elements necessary for global competition. This joint venture secures a strong position for U.S. technology, aerospace, and defense sectors in the global market. Announcing this from America’s industrial belt highlights the deal’s immense benefits and historical significance for our region and nation.”
Zoetic Global CEO Avery Hong emphasized, “Inspired by the CHIPS Act, which highlights the critical need to secure and strengthen our supply chains, we recognize the disruptions caused by the COVID-19 pandemic. By on-shoring and re-shoring critical technologies and materials, we can enhance economic resilience and reduce reliance on foreign sources.”
Jerome Ringo, Co-Founder and Executive Chairman of Zoetic Global, concluded, “Rare earth deposits are found worldwide, but technical expertise and access to environmentally sound technologies have been limited. Zoetic’s innovative solutions will transform the rare earth mining industry.”
Trident Global Holdings and Zoetic Global are committed to establishing a sustainable value chain, focusing on deploying new, environmentally responsible technologies for extracting and processing rare earth materials.
