Vietnam, with the world’s second-largest reserves of the rare earths used in such modern devices as electric vehicle batteries and smart phone screens, is intensifying mining of the critical minerals. The industry, though, faces high processing costs, environmental concerns, and the takedown of industry leaders for illegal mining and mineral sales. Vietnam’s rare earth resources are second only to those of China, which has held a tight monopoly since the 1980s. With Chinese relations with the West becoming more volatile, many countries are looking for other sources for the elements. “China produces about 60% of the world’s rare earths but what they process is over 90%,” Louis O’Connor, CEO of Strategic Metals Invest, an Irish investment firm, told VOA. “It was not a good idea to allow one country to dominate critical raw materials that are critical to all nations’ economic prosperity and increasingly military capability,” he said. O’Connor added …