“We will continue global cooperation to stabilize the global supply chain of key minerals”
Establishment of 'MSP Forum'… Providing Opportunity for Mineral-Holding Countries to Participate in MSP System

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Foreign Affairs attended the Senior Representative Meeting of the Minerals Security Partnership (MSP), in which countries around the world participate, and discussed establishing a responsible and sustainable supply chain for key minerals.

The Ministry of Trade, Industry and Energy announced on the 3rd that Second Vice Minister of Foreign Affairs Kang In-sun (Senior Representative) and Ministry of Trade, Industry and Energy Resources and Industry Policy Bureau Director Yoo Beop-min attended the Senior Representative Meeting of the Minerals Security Partnership (MSP) hosted by U.S. Under Secretary of State for Economic, Economic, and Cultural Affairs Jose Fernandez in Toronto, Canada, and discussed ways to diversify the supply chain of core minerals such as lithium, graphite, nickel, and rare earth elements with 15 member countries including the G7.

MSP is an international cooperation partnership for stabilizing and diversifying the supply chain of key minerals, and is currently participated by 14 countries (Korea, the United States, the United Kingdom, Japan, Canada, Sweden, France, Australia, Finland, Germany, Norway, Italy, India, and Estonia) and the EU.

At this meeting, MSP member countries established the 'MSP Forum' to diversify the sustainable supply chain of key minerals, so that mineral-holding countries other than member countries can participate in the MS.It provided an opportunity to participate in the P system.

Through this, MSP member countries have decided to pursue effective policy cooperation with 'MSP Forum' participating countries.

Additionally, MSP member countries agreed to expand policy support for selected key mineral MSP pilot projects to support clean energy transition and diversify global supply chains.

※ MSP pilot project (23 in total as of February 2024, with overlap in detailed fields, resources, and regions)

Value chain: △16 upstream extraction sectors △9 midstream mineral refining sectors △3 recycling and recovery sectors

Minerals: △1 lithium △6 graphite △2 nickel △3 cobalt △1 manganese △2 copper △9 rare earth elements

Region: △6 in America △13 in Africa △4 in Europe △2 in Asia Pacific

This MSP Senior Representative Meeting was held on the occasion of the 'Canada PDAC Mining Expo', the world's largest mining festival. In addition to MSP member countries, non-member Central and South American resource-holding countries also attended to exchange opinions on ways to cooperate in sustainable mineral development.

In addition, Vice Minister of Foreign Affairs Kang In-sun will host an 'In-depth Graphite Supply Chain Meeting' in Toronto, Canada on the 4th in conjunction with the MSP Senior Representative Meeting, inviting governments of MSP member countries, mineral experts, major global graphite business participants, and industry officials.

The meeting plans to discuss ways to strengthen the stable global supply chain of graphite, a key raw material for battery cathodes.

Meanwhile, on the 4th, Yoo Beop-min, Director of the Resources Industry Policy Bureau of the Ministry of Trade, Industry and Energy, met with Japanese Director-General Sadamichu Yuki of the Ministry of Economy, Trade and Industry and Canadian Director-General Deborah Yu of Canada in Toronto, Canada.) will hold bilateral meetings with the Director General of the Ministry of Natural Resources and the Director General of Investment Canada, Laura Broten, to strengthen cooperation in key minerals between the two countries.