14.9 C
Belgrade
27/05/2024
Mining News

EU and partners lead efforts to foster global cooperation in critical raw materials

A new global forum aims to enhance cooperation in critical raw materials, essential for the world’s green and digital transitions. Led by the European Union and its mineral security partners, the forum welcomes four new countries, including mineral-rich nations like Kazakhstan and Uzbekistan.

The demand for critical raw materials is soaring due to their necessity in strategic sectors like net-zero industry, digital technology, space, and defense. However, geopolitical and environmental challenges threaten their supply.

Supported by

The newly formed Minerals Security Partnership Forum, comprising existing and new members, will focus on sustainable use of critical minerals. Through policy dialogues and regulatory cooperation, the forum aims to promote fair competition, transparency, and high environmental standards across supply chains.

Membership in the forum is open to partners committed to diversifying global supply chains and upholding environmental and social standards. The EU and the United States will jointly lead the forum, reaching out to prospective members worldwide.

Building on the EU’s Critical Raw Materials Package, the forum emphasizes the need for diverse and sustainable supply chains through international partnerships. The EU and Uzbekistan have signed a strategic partnership memorandum, aiming to secure diversified and sustainable CRM supplies for green and digital transitions.

Cooperation areas include sustainable prospecting, production, research, and innovation in CRM value chains. Uzbekistan’s significant CRM reserves align with its strategy to increase processing for domestic and international industries.

Overall, the forum aims to improve CRM supply chain resilience, enhance transparency, and mobilize funding for infrastructure development, promoting sustainable development in both the EU and Uzbekistan.

Related posts

Lundin Mining adopts sustainability-linked loan structure to enhance environmental and social impact

Navigating the critical raw materials landscape: Imperatives for climate transition success

Ireland poised to play key role in EU’s critical raw materials strategy under new regulation

error: Content is protected !!