The emblem of the Ministry of Commerce, Business and Power is seen on this undated photograph. Newsis
Korea and Mongolia have agreed to bolster bilateral cooperation within the provide chain of uncommon metals and different essential minerals, Seoul’s business ministry mentioned Wednesday.
The 2 sides held the second spherical of uncommon metallic cooperation committee conferences in Seoul earlier within the day as a follow-up measure to the settlement on uncommon metals provide cooperation reached between their prime ministers in 2023, in accordance with the Ministry of Commerce, Business and Power.
The cooperation will assist Mongolia develop its mineral assets, whereas permitting Korea to stabilize its provide chain, the ministry defined.
Mongolia has varied uncommon metallic reserves, together with uncommon earth components. It’s the world’s eighth-largest producer of molybdenum, a key metallic used to make metal alloy.
By November, the 2 nations will full putting in mandatory tools and infrastructure for the operation of their joint cooperation middle on uncommon metals.
Korea and Mongolia’s geoscience analysis institutes plan to launch a joint exploration venture to seek out essential minerals in Mongolia and develop a tin mine within the central Asian nation, in accordance with the ministry. (Yonhap)
