South Korea Joins Mineral Security Alliance Led by U.S.

Published on: 18 June 2022
by KnowESG

South Korea has decided to join the United States-led Minerals Security Partnership (MSP). Second Vice Foreign Minister Lee Do-hoon and Yoo Beop-min, director of raw materials industry policy at the Ministry of Trade, attended the MSP opening ceremony recently in Toronto, Canada.

The MSP, which aims to secure a stable and diverse mineral supply chain, includes South Korea, the United States, Canada, Japan, Germany, the United Kingdom, the European Commission, Finland, France, Australia, and Norway.

Participants agreed that core minerals are critical to the global economy's development and the transition to renewable energy. They've also pledged to create a transparent, open, secure, and long-term supply chain to help the global community respond to climate change.

To effectively lead public and private investment, they have also resolved to apply high-level ESG criteria to core mineral mining, smelting, and recycling sectors.

To address the climate catastrophe, the government will enhance the key mineral supply chain for future sectors such as secondary cells and collaborate closely with partner countries, particularly the United States.

Source: Bollyinside

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