Brussels (Brussels Morning Newspaper) – The EU Commission hosts the Minerals Security Partnership to advance sustainable, multilateral raw materials projects, focusing on critical minerals like lithium and rare earths.
Today, on 12 Dec 2024, the European Commission is holding pivotal meetings of the Minerals Security Partnership (MSP). The events take place in Brussels as a component of the 2024 Raw Materials Week. The MSP is characteristic of the European Union’s multilateral steps to fix market imbalances in international raw materials markets and foster mutually beneficial and sustainable industrial schemes.
How is the minerals security partnership addressing raw material gaps?
The partners of MSP include the EU, the United States, Estonia, Finland, Australia, Canada, France, Italy, Japan, Germany, India, Norway, the Republic of Korea, the UK, and Sweden.
According to the EU Commission, the Minerals Security Partnership lets these like-minded nations share information on critical raw material developments in third nations, determine investment options and co-invest in mining, recycling and refining projects that appreciate high environmental, governance and social standards. It seeks to move forward with projects and procedures that will keep secure and sustainable access to critical raw materials, such as nickel, lithium, cobalt, manganese, rare earth elements, copper and graphite.
As reported by the EU Commission, the EU Commission and co-chaired by the Republic of Korea and the United States organised by the MSP Principals’ meeting started with a priority on accelerating schemes related to rare earths, which are important components of the permanent magnets needed for electric vehicles and wind turbines, and for which Europe maintains very robust dependencies. Partner nations recognised new opportunities for responsible processing, mining, and recycling of essential minerals among MSP Forum partners.
