US, Norway Deepen Critical Minerals Cooperation Competing With China, Russia

(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, Oct 1 (KUNA) -- US Secretary of State Antony Blinken and Norwegian Foreign Minister Espen Barth Eide signed a Memorandum of Understanding in Washington, to enhance cooperation on critical mineral supply chains.
This agreement comes at a time when the US seek to prevent any single country from monopolizing these essential minerals, particularly amidst concerns over China's and Russia's advancements in the field.
During the signing ceremony on Monday at the US Department of State, Blinken emphasized the significance of the agreement, stating, "Today's signing of this Memorandum of Cooperation demonstrates a shared commitment to economic security in both a timely and tangible way."
"Securing safe and transparent critical mineral supply chains is essential not only for achieving our global clean energy goals but also for our national security," Blinken said.
Blinken also referenced a prior agreement from April, in which both nations committed to addressing a threat to their national and economic security by working together to secure the supply chains for critical minerals and clean energy.
He further noted that the US and Norway were cooperating to accelerate investments in global supply chains alongside 13 other partners in the Minerals Security Partnership.
"Global demand for critical minerals, we know, is only going to increase. It's going to expand dramatically as we build and deploy technologies that will drive the 21st century clean energy economy," Blinken stated, stressing that no country can meet this demand alone, and that no country should control the world's supply of these materials.
The Memorandum, according to Blinken, would "unlock the full potential of what our two countries can accomplish together and, as well, working with many others. This is a partnership that really is foundational to the future - the future of the 21st century economy, the future of clean energy, the future of national security."
Norwegian Foreign Minister Eide echoed these sentiments, stating, "in the 21st century we will need critical minerals as raw materials for almost everything new, both how we produce clean energy but also how we use clean energy."
He added that the geopolitical affairs was shifting dramatically, presenting challenges that must be addressed candidly and collaboratively, and that it was important to understand the economic consequences of these geopolitical complications.
Eide highlighted Norway's role as a major supplier of critical minerals, noting that Norway was a top producer of cobalt and of nickel to the US, and the largest producer of graphite in Europe, noting that Norway's geology was full of these minerals.
Eide added that this cooperation agreement was essential to secure a strategic partnership in the military field, the political field, and the economic field, because it would build security, resilience, reliability.
Critical minerals are indispensable to industries such as advanced technology and the production of various military and civilian equipment. (end)
asj

MENAFN01102024000071011013ID1108732847