The trilateral negotiation mechanism for key minerals in South Korea, the United States, and Mongolia has been officially established

Seoul, June 27th (Yonhap) - South Korea, together with the United States and Mongolia, established the "Korean American Mongolian Tripartite Consultation Mechanism for Key Minerals" (hereinafter referred to as the "Consultation Mechanism") on the 27th to stabilize the global supply chain of key minerals.

According to the news from the Ministry of Foreign Affairs of Foreign relations of South Korea, Li Duxun, the second official of the Ministry of Foreign Affairs (Deputy Foreign Minister) who is visiting Mongolia, held the first meeting of the consultation mechanism on the same day with Fernandez, the US Under Secretary of State in charge of economic growth, energy and environment, and Gonbartel, the Mongolian Minister of Mines and Heavy Industry, to exchange views on tripartite cooperation in mineral sample analysis, mineral exploration information sharing, etc. The three parties agreed to hold regular meetings on key mineral work on the same day, and hosted a South Korean American Mongolian Business to Business Roundtable at the "Mongolian Mineral Week" event scheduled for October to support excavation cooperation projects.

Last August, taking the opportunity of South Korean Foreign Minister Park Chun's visit to Mongolia, both sides agreed to establish the Korea Mongolia Rare Metals Cooperation Center and planned to establish the Korea Mongolia Rare Metals Cooperation Committee, in order for the South Korean Ministry of Industry, Commerce, and Resources to come forward and discuss specific cooperation plans with Mongolia.

Taking the establishment of this consultation mechanism as an opportunity, tripartite mining professionals held a 1.5 gauge civil official consultation meeting in Mongolia to discuss the possibility of mining key minerals such as coal, copper, rare earth, lithium, etc.