Korea looks to boost cooperation with African nations on key minerals

Korea's Second Vice Foreign Minister Lee Do-hoon, left, speaks during a meeting on launching the Minerals Security Partnership in Canada on June 15, 2022. [MINISTRY OF TRADE, INDUSTRY AND ENERGY]

Korea on Tuesday attended a meeting of the United States-led Minerals Security Partnership (MSP) and discussed ways to boost cooperation on supply chains of major minerals with resource-rich African nations, the Industry Ministry said.

The meeting of the partnership was held in Cape Town that day, involving 12 member nations, including Australia, Canada and France, as well as South Africa, Tanzania and Congo, according to the Ministry of Trade, Industry and Energy.

Launched in June 2022, the initiative was to bolster critical mineral supply chains in line with their growing demand for clean energy and other major technologies in a way that helps nations realize "the full economic development benefit of their geological endowments."

During the meeting, the nations vowed to push for the sustainable development of major minerals by protecting environments and seeking the development of local communities, and decided to check their implementation of the environmental, social and corporate governance principles on a regular basis.

Korean officials also met with government and corporate officials of South Africa, Zambia and other African nations on how to establish their networks for major minerals and how to strengthen cooperation amid the fast-changing global industrial landscape and other circumstances, according to the ministry.

Yonhap