Replies to post #106965 on Mohacsy's Safe Portfolio Member Forum

[Elroy Jetson]

About "China's rare earths . . . that they mine in Mongolia . . .

In an official visit to Washington, Mongolian Prime Minister Oyun-Erdene Luvsannamsrai met with US Vice President Kamala Harris at the White House on August 2. Luvsannamsrai said Mongolia will strengthen its strategic “third neighbor” partnership with the US. Both countries agreed to explore the idea of mining Mongolia’s rare earths and critical minerals for use in US high-technology products.

China which mines 210,000 tonnes of "rare earths" in Mongolia has been sharply critical of this agreement as Beijing was hoping their rare earths produced in Mongolia would give them some leverage in the current tech wars. It seems there will soon be American "rare earths" mines opening in Mongolia.

China's foreign ministry said, "Mongolia failed to take Beijing’s feelings into consideration as Mongolia's PM Luvsannamsrai arrived in the US on August 1, the day when China’s export restrictions of gallium and germanium compounds took effect." I think that goes without saying.

US Transportation Secretary Pete Buttigieg signed an "Open Skies" agreement with Mongolia's Transport Development Minister Byambatsogt Sandag on August 4 that aims at “expanding options for travelers and shippers, and encouraging closer people-to-people ties” between the two countries.

Mongolia's Prime Minister Oyun-Erdene Luvsannamsrai looks on in approval as his minister Byambatsogt Sandag signs the agreement with Pete Buttigieg at the White House



https://www.whitehouse.gov/briefing-room/statements-releases/2023/08/02/joint-statement-on-the-strategic-third-neighbor-partnership-between-the-united-states-of-america-and-mongolia/#:~:text=Strengthening%20Security%20Cooperation&text=The%20United%20States%20and%20Mongolia%20are%20strengthening%20their%20Third%20Neighbor,traditional%20defense%20and%20security%20challenges