United States – Mongolia Memorandum of Understanding on Mineral Resources

04/09/2023

Image source: pixelied.com / pixabay.com

On June 27, 2023, in Ulaanbaatar, Mongolia, a significant memorandum was signed between the U.S. Department of State, represented by Under Secretary of State for Economic Growth, Energy, and the Environment, Jose W. Fernandez, and Mongolia’s Ministry of Mining and Heavy Industry, represented by Minister Ganbaatar Jambal. This Memorandum of Understanding (MOU) is dedicated to fostering collaboration on the development and governance of mineral resources.

This MOU highlights the commitment of both the United States and Mongolia to promote responsible practices within their respective mineral resource sectors and to jointly enhance the resilience and security of critical mineral supply chains in the Indo-Pacific region.

The United States and Mongolia share a mutual interest in harnessing mineral resources for economic growth, resource security, and overall economic development. Both nations possess valuable technical expertise, operational know-how, and sector management capabilities that can be effectively utilized through this close partnership.

Under the terms of this MOU, the United States will actively engage with Mongolia to facilitate sustainable exploration and development of its mineral resource potential. Collaboration avenues include joint geoscience fieldwork, educational workshops, knowledge-sharing through peer exchanges, comprehensive training programs, and discussions concerning investment and regulatory frameworks. This collaborative effort may encompass cooperation between government agencies, academic institutions, and private sector entities from both countries.

For additional information, please reach out to ENR-PD-Clearances@state.gov.

Source and Credit: state.gov

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