It is described as an important step to strengthen resilience and diversify supply chains in the face of “common geopolitical and economic challenges.”
The parties have also agreed on an action plan that will, among other things, set the framework for trade in minerals and common standards for extraction and refining, for example.
The Memorandum of Understanding was signed by Trade Commissioner Maros Sefcovic and U.S. Secretary of State Marco Rubio. The cooperation covers the entire chain – from exploration to recycling.
Critical minerals include lithium, cobalt and rare earth metals.
