Australian Mines LTD (AMSLF)

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US steps up efforts to limit China’s control of critical minerals

The US government is stepping up efforts to break China’s dominance over supplies of critical minerals for range of modern life’s aspects including electric vehicles (EVs), green technologies and military applications by launching a plan to boost lithium, cobalt and rare earths mining across the globe.

The Energy Resource Governance Initiative (ERGI) initiative, announced in June, so far involves Australia, Botswana, Peru, Argentina, Brazil, Democratic Republic of the Congo, Namibia, the Philippines and Zambia.

The scheme seeks to promote responsible mining of 15 materials expected to be in high demand as the adoption of technologies such as EVs, battery storage and wind turbines continues to rise.

“We want to ensure that these important mineral commodities remain free from international coercion and control,” US secretary of state, Mike Pompeo, said in a meeting held on Thursday at the United Nations General Assembly.

WASHINGTON HAS GROWN MORE CONCERNED RECENTLY ABOUT ITS DEPENDENCE ON MINERAL IMPORTS AFTER BEIJING SUGGESTED USING THEM AS LEVERAGE IN THE TRADE WAR BETWEEN THE WORLD’S TWO LARGEST ECONOMIES.

“The work that we’re doing here is absolutely essential – it’s essential to ensuring secure and reliable energy supplies for every nation,” he noted.

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https://www.mining.com/us-steps-up-efforts-to-limit-chinas-control-of-critical-minerals/