Bangkok: Thanakorn Wangboonkhongchana, the Minister of Industry, has highlighted the Thailand-US Memorandum of Understanding (MOU) on rare earths as a pivotal opportunity to explore, process, and develop Thai industries. The Ministry of Industry has indicated that this agreement serves as a platform to utilize valuable minerals for industrial advancement, promote trade and investment, and enhance the stability and sustainability of Thailand’s critical mineral supply chain.
According to Thai News Agency, the signing of the MOU on Cooperation in the Diversification of the Essential Minerals Supply Chain aims to enhance trade, investment, technological development, and the security and sustainability of global supply chains. Mr. Thanakorn emphasized the collaboration as a chance for both nations to fortify the governance of essential mineral resources and integrate Thailand into a secure and reliable global supply chain. This initiative endorses exploration, extraction, processing, appropriate end-use, reuse, and recycling, aiming to deepen cooperation for mutual economic and resource security.
Petty Officer 1st Class Yossing Liamlert, Deputy Minister of Industry, remarked that this partnership allows Thailand to engage in the global supply chain for critical minerals. He stressed the importance of adhering to international standards and recognizing both countries’ technical expertise, regulations, and sectoral management to ensure the stability and reliability of mineral resource procurement. This cooperation is expected to support technology transfer, promote research and development, and facilitate innovative technology applications.
Mr. Aditat Wasinon, Director-General of the Department of Primary Industries and Mines, noted that Thailand has not previously had rare earth mines, with preliminary data indicating no commercially viable deposits. The MOU aims to bolster the stability and sustainability of Thailand’s critical mineral supply chain, especially in exploring, processing, and utilizing minerals essential for industries like clean energy and electric vehicles.
Mr. Aditat stated that the cooperation would be beneficial for creating a stable investment environment, enabling Thailand to gain from information exchange, technology transfer, and new investment opportunities. However, he clarified that the MOU is not legally binding, and any investment in Thailand must strictly comply with Thai laws and regulations, including measures to prevent environmental and public health impacts.