Thailand sits on 44.41 quadrillion baht worth of rare minerals

Thailand has up to 40 types of mineral resources spread across some 60 million rai (9.6 million hectares) and is worth about 44.41 quadrillion baht if exploited, the Mineral Resources Department chief said.

Pichit Sombatmak, the department’s director-general, said the 30 trillion tonnes or so of minerals to be found in 19% of the country could serve as resources to kick off new industries.

Minerals resources include rare lithium and quartz that can be used in the production of solar panels, EV battery cells and electricity storage systems among others, Pichit said.

Potash which can be used to make fertilisers and even EV battery cells, can be found in the Northeast. Pichit estimates that there are some 10 billion tonnes available in 10 areas worth approximately 161 trillion baht.

Potash can yield raw materials for making sodium-ion batteries for electric vehicles. He said his department expects the government to support the production of sodium ion batteries and make use of the country's huge potash resources in about five years.

The Mineral Resources Department has also found 30 prospective sites covering about 10 million rai in nine provinces that carry rare and valuable minerals. He said these sites can produce some 7 million tonnes of rare minerals worth 4.40 trillion baht, including monazite, which can fetch about 127,000 baht per tonne.