EU establishes Minerals Security Partnership with 10 other Nations
Updated: Jun 17, 2022
On 14 June, during the Prospectors and Developers Association of Canada convention, the EU and key trade partners announced the establishment of the Minerals Security Partnership (MSP) to secure critical raw materials supply chains. MSP partners include Canada, Australia, Finland, Germany, France, Japan, the Republic of Korea, Sweden, the UK, the US, and the European Commission.
The objective of the MSP is to ensure that CRMs are produced, processed and recycled supporting the full potential the partner countries have in terms of their domestic capacity. The partners are committed to building robust, responsible supply chains to support economic development and respect the Green Deal objectives.
According to Jose Fernandez, under secretary for economic growth, energy and the environment at the State Department, the MSP will help catalyse investment from governments and the private sector for strategic opportunities across the full value chain that adhere to the highest environmental, social, and governance standards.
The Commission has yet to release a press statement on the MSP. To read the press release of the US Department of State, click here.