Diversify raw material supply sources.

The European Union (EU) and the United States are seeking to engage developing countries in partnerships aimed at regulating the supply of critical raw materials.

At the EU-US Trade and Technology Council meeting held in Louvain, Belgium, the two sides launched the Mineral Security Partnership Forum (MSP), attended by 24 countries and co-chaired by European Commission Executive Vice President Valdis Dombrovskis and US Secretary of State Antony Blinken.

Among the invited countries were Malawi, Angola, the Philippines, Brazil, Indonesia, Ukraine, Libya, Kazakhstan, and Uzbekistan... Mr. Dombrovskis said that the EU and the US had put forward new and potentially better proposals for developing countries to create more added value for these nations.

Raw materials play a crucial role in the digital and ecological transformations that the EU and the US are striving to achieve. However, the global supply chain for these minerals, such as lithium and cobalt, is largely dependent on China. The EU is trying to achieve independence, partly through direct partnerships with countries like Norway. Furthermore, the bloc will soon sign a key raw materials partnership agreement with Australia and is preparing to sign deeper partnership agreements with at least three other countries.

Meanwhile, the US consumes 9% of the world 's rare earth minerals. Despite high demand, many environmental regulations are currently deterring investors from mining in the US, making cooperation with developing countries the best solution to diversify supply sources.

The MSP Forum builds upon a previous partnership initiated by the U.S. in 2022 to accelerate the development of diversified and sustainable supply chains for essential energy minerals. The forum brings together 14 countries: Australia, Canada, Estonia, Finland, France, Germany, India, Italy, Japan, Norway, the U.S., South Korea, the United Kingdom, Sweden, and the European Commission.

VIET LE

Source: https://www.sggp.org.vn/da-dang-hoa-nguon-cung-nguyen-lieu-post734184.html