Reuters quoted Mongolian Prime Minister Oyun-Erdene Luvsannamsrai as saying that at a meeting with US Vice President Kamala Harris in Washington on August 2, the two sides discussed cooperation in the field of rare earth mining and other minerals used in high-tech applications.
Located between its two large neighbors, China and Russia, Mongolia has rich deposits of copper and many rare earths, which are important for high-tech applications, including defense, as well as a strategy for developing electric cars and renewable energy. US President Joe Biden wants to electrify the auto market to help combat climate change.
According to Scientific American , Mongolia currently produces about 1.4% of the world 's copper and 1% of molybdenum. Molybdenum is a mineral needed for solar cell and wind power technology.
Mongolian Prime Minister Oyun-Erdene Luvsannamsrai recently met with US Vice President Kamala Harris in Washington. Photo: REUTERS
"Cooperation with the US on rare earths and critical minerals is ongoing and will be further enhanced under a memorandum of understanding signed in June between the US State Department and the Mongolian Ministry of Mines and Heavy Industry," said Prime Minister Oyun-Erdene Luvsannamsrai.
On August 4, the head of the Mongolian government met with US Secretary of State Antony Blinken. At the meeting, the two sides signed an "Open Skies" civil aviation agreement and pledged to deepen and expand economic cooperation. It is expected that Mongolia will have direct flights to the US by 2024.
Similar to the Mongolian prime minister's statement, a US State Department official also said that the US, in "creative ways", could help Mongolia export rare earths to the world market.
"The US is keen to secure rare earth supplies outside its main rival China, which will account for 70% of the world's rare earth production in 2022," Reuters commented.
Source
Comment (0)