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Vietnam arrests rare earth industry officials, casting shadow over plans to rival China

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Police in Vietnam have arrested six people accused of violating mining regulations, including the chairman of a company at the forefront of a drive to create a rare earth industry that could challenge China’s dominance of the sector.

Calls to Tuan went unanswered on Friday. VTRE’s office in Hanoi has been shut for days, one person at the building said. Blackstone shares fell more than 8% on Friday, while ASM shares value remained stable. The reason for the fall in Blackstone shares was unclear.

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