It sounds like Blackstone is being cut into this rare earths...

It sounds like Blackstone is being cut into this rare earths deal. It seems the government is pushing rare earth production in Vietnam and will invest in the refineries! I think they would be silly not to go down this path, it is clearly a priority for the Vietnamese government.

"the ministry has also granted licenses for rare earth mining in Yen Bai province. Although this mine has smaller reserves, it is as yet untouched and may be highly profitable if exploited effectively and efficiently.In 2022, Vietnam Rare Earth Joint Stock Company signed an agreement on rare earth export with ASM & KSM Metal Co., Ltd and the government of Chungcheongbuk-do province in South Korea. This will see the two companies work together to develop mining operations in Yen Bai province. It is estimated that the site contains 30,000 tons of rare earth reserves."

Vietnam plans to build rare earth refining facilities in the two provinces or other localities, with an annual capacity of 20,000-60,000 metric tons of rare-earth oxides (REO) by 2030.
The target is to have northern VN Rare earth mines operating in the 2031-2050 period according to the government.
https://tuoitrenews.vn/news/society/20230726/vietnam-aims-to-annually-exploit-2mn-tonnes-of-rare-earths/74605.html

It appears government funded scientists have already worked out a flow sheet for benefication of the ores.
https://onlinelibrary.wiley.com/doi/10.1002/cjce.25038?af=R