Republic of Korea assumes chairmanship of MSP

Seoul, 29 June 2024 (TDI): The Republic of Korea will chair the Mineral Security Partnership (MSP) for one year. The MSP aims to diversify and build a supply chain for critical energy minerals.

The Republic of Korea will embrace charge on Monday for one year after gaining remarkable support from MSP members.

Following the United States, Korea will serve as the MSP Chair for one year and lead collaboration among MSP member countries to ensure the MSP pilot projects achieve practical and concrete results. As Chair, Korea will set long-term strategic goals for the MSP and lead the MSP Principals’ Meetings twice a year.

The United States has congratulated the Republic of Korea for undertaking the charge of MSP and is committed to continuing to work on critical minerals issues under the leadership of the Republic of Korea, a statement revealed by the State Department.

“The Republic of Korea has demonstrated tremendous leadership on critical minerals supply issues and proves itself to be an active member of the Mineral Security Partnership”, a note issued by the Department of State.

Furthermore, the State Department revealed that the United States was fully prepared to support the Republic of Korea (ROK) as the next chair of the MSP. We are committed to maintaining an active leadership role within the MSP, including our co-leadership of the MSP Forum with the European Union.

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“This partnership provides a crucial platform for MSP partners and mineral-producing countries to drive projects and policies that will effectively secure a sustainable supply of critical minerals with local beneficiation, ” US officials said.

Mineral Security Partnership (MSP)

The Mineral Security Partnership was launched in 2022 by the United States with the primary objective of bridging the gap between minerals-rich countries and MSP partners. Since its inception, the Partnership has grown to 14 partners, particularly representing G7 countries and the European Union.

Critical minerals play a crucial role in powering high-tech industries like semiconductors, batteries, and electric vehicles. These industries are pivotal for driving the global clean energy transition and meeting net-zero targets.