VIENTIANE, Oct. 2 (Xinhua) -- Lao Prime Minister has instructed the relevant agencies to expedite the drafting of a strategy on rare earth metals and other minerals, to ensure proper management of mining operations in the southeast Asian country.
Speaking at the cabinet's monthly meeting for September, Lao Prime Minister Sonexay Siphandone highlighted the importance of rare earth metals for the Lao economy, given their global importance and high market demand, Lao Security Radio reported on Monday.
Rare earth refers to a group of 17 elements used in the manufacture of mobile phones, hard drives, and trains, which are also important for green technology including wind turbines and electric vehicles.
As rare earth metals are in high demand globally, the Lao government stressed the need to ensure that Laos fully benefits from the mining of rare earth deposits.
Lawmakers urged the government to set up laboratories to analyze each type of mineral deposit found in Laos, saying that strict oversight and closer collaboration in mining operations would enable the government to collect more revenue from mining companies and ensure that mineral resources were better managed. ■
