CLEVELAND, July 25, 2024 /PRNewswire/ -- Trident Global
Holdings, a leading Korea-based company, announced today a
groundbreaking major strategic joint venture with Zoetic Global.
The collaboration aims to co-develop premium rare earth mines,
ensuring that global and U.S. companies have access to
these critical elements. The joint venture has the potential to
generate billions in economic value and to implement sustainable
practices into the rare earth mining industry.
In this venture, Trident Global Holdings, which already has a
strategic cooperation development agreement with Vietnam's Hung Hai Group—owner of three mines
in Lai Chau Province, northern
Vietnam—will partner with Zoetic Global to deliver the latest,
environmentally friendly technologies to maximize the efficiency of
rare earth production. These mines, including Bac (North) Nam Xe,
Nam (South) Nam Xe, and Dong Pao,
collectively possess confirmed reserves totaling 7 million metric
tons of valuable rare earth elements.
Through this collaboration, Zoetic Global and Trident Global
Holdings will develop and operate these important mines utilizing
innovative solutions to remediate waste streams, making the
process cleaner and more sustainable. The venture will access
approximately 7 percent of the known rare earth deposits in
the world with a high percentage of the heavier, more valuable
rare earth elements. Key global and U.S. industries will secure
access to:
- Semiconductors: Rare earth elements are critical for
semiconductor manufacturing and will help drive advances in
artificial intelligence chip design.
- Renewable Energy: Rare earth magnets are used in wind turbines
and other clean energy technologies aimed at reducing carbon
emissions.
- Aerospace and Defense: Strengthening the supply chain for
critical defense applications.
- Electronics: Providing essential materials for the production
of smartphones, computers, televisions, and other advanced
electronic devices.
- Electric Vehicles: Supplying critical components for batteries
and motors, contributing to the growth of the electric vehicle
market.
- Medical Imaging and Biotech: Supporting advancements in medical
imaging and other healthcare technologies such as MRI and PET
scanners.
"Vietnam holds approximately 20
percent of the world's rare earth reserves. This collaboration,
along with Hung Hai Group, will unlock significant financial value
for Vietnam, profoundly impacting
and benefiting the Vietnamese government and its people by
introducing new mining business ventures and technologies. This
partnership will also ensure the sustainable management of rare
earth elements for the global marketplace," said Sam Chi, CEO of Trident Global Holdings. "We are
thrilled about our strong collaboration with Zoetic Global,
especially as the demand for rare earth elements is expected to
surge over the next decade."
"One of Zoetic's primary goals is to ensure that U.S. industries
have equal access to critical elements necessary for global
competition," said Tim Ryan, former
Ohio Congressman and Zoetic
Global's Chief Global Business Development Officer. "This joint
venture guarantees that U.S. technology, aerospace, and defense
companies have a significant presence and influence in the global
market. Announcing this from America's industrial belt underscores
the immense benefits and historical significance of this deal for
our region and nation."
"We were inspired by the CHIPS Act, which underscores the
critical need to secure and strengthen our supply chains," said
Zoetic Global CEO Avery Hong. "The
disruptions from the COVID-19 pandemic have highlighted the
importance of ensuring supply chain integrity. By on-shoring and
re-shoring critical technologies and materials, we can bolster
economic resilience and reduce dependency on foreign sources."
"Rare earth element deposits are found in diverse regions
globally, but technical know-how and access to environmentally
sound technologies have been lacking," said Jerome Ringo, Co-Founder and Executive Chairman
of Zoetic Global. "Zoetic has secured power and remediation
solutions that will be transformative to the rare earth mining
industry."
Trident Global Holdings and Zoetic Global are committed to
establishing a comprehensive value chain that prioritizes
sustainability and the deployment of new, environmentally
responsible technologies for extracting and processing rare earth
materials.
About Trident Global Holdings
Trident Global Holdings is a prominent Korea-based
company with interests in mining, real estate, and carbon
capture technology. In partnership with Zoetic Global, Trident
Global Holdings, along with Hung Hai Group, aims to establish
a comprehensive value chain that extends beyond mining. This
integrated and sustainable approach will encompass refining,
smelting, processing, and the distribution of final products, thus
solidifying their position in the rare earth elements market. As
part of its commitment to sustainability, Trident intends to
develop and deploy new, environmentally responsible technologies
for extracting and processing the rare earth materials.
About Zoetic Global
Zoetic Global is a sustainability-focused solutions provider,
dedicated to delivering essential energy, water, and food
technologies to areas in greatest need. Through collaboration with
technology and strategic partners, Zoetic has curated a compelling
portfolio of solutions to address critical issues. The name
"Zoetic," meaning "pertaining to life," symbolizes the company's
commitment to impactful solutions. Co-Founder and Chairman
Jerome Ringo, a seasoned leader in
the climate movement, drives Zoetic's efforts to support regions
disproportionately affected by climate change. Zoetic believes in
the existence of critical solutions and the necessity of a
heightened commitment from leaders to implement them effectively.
For more information about Zoetic Global, visit Zoetic Global
About Page
Media Contacts
Ashleigh Jacubec
Email: ashleigh@zoeticglobal.com
Charlotte Luer
Email: cluer@ljhfm.com
+1-239-404-6785
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