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Will you be mine, Minegolia? www.politico.com
Mongolia, shoehorned between China and Russia, could be a powerhouse supplier of critical minerals for U.S. clean energy projects.
That was one pitch from American officials during a recent visit.
The other sales pitch: The U.S. can give Mongolia a better deal than China or Russia.
Grasslands once trammeled by Genghis Khan’s riders are rich in copper and other minerals needed for large-scale wind and solar power and for bringing millions of electric cars to market.
Senior U.S. officials went to Mongolia last month to forge business and government ties and to ensure ethical standards are established for mining projects. The need to ease global reliance on China for critical minerals looms large over talks with Mongolia and other resource-rich countries, writes Sara Schonhardt.
“Mongolia is facing a generational opportunity, and that generational opportunity is a need for us to find critical minerals and rare earths in order to achieve our clean energy goals,” Jose Fernandez, undersecretary of State for economic growth, energy and the environment, told E&E News.
China dominates the flow of raw and processed minerals that feed the world’s exploding demand for clean energy technology. The U.S. wants to rebuild and diversify the supply chain.
The United States is part of the Minerals Security Partnership — a coalition of mostly Western countries, including Canada, Australia and South Korea, working to secure minerals as demand for batteries and other energy technology ratchets up.
But the initiative isn’t without its critics.
Republicans accuse the White House of overlooking human rights abuses in Congo and other resource-rich developing nations, even as the Biden administration has restricted proposed U.S.-based mines.
What does it all mean for Mongolia — once nicknamed “Minegolia” because of its abundant natural resources?
Communist China extends nearly 3,000 miles along Mongolia’s southern border, controlling access to the global market by land and sea. Strengthening ties to the U.S. and its allies could have repercussions for Mongolia’s well-established trade relationship with China, where most of its copper and coal currently go.
For the West, Mongolia is just one piece of a complex diplomatic puzzle the U.S. and its allies are piecing together to counter China and unlock new sources of minerals.
BY: HEATHER RICHARDS
Published Date:2023-08-01
