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 a 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 minerals expected to be in high demand as the adoption of technologies such as EVs, battery storage and wind turbines continue 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. This is good news for Australian Mines as this may put pressure on SK Innovations to finance the Sconi project to secure the minerals.