Canada, South Korea search deeper cooperation on important minerals By Reuters



© Reuters. South Korean President Yoon Suk-yeol and Canada’s Prime Minister Justin Trudeau arrive to a information convention in Ottawa, Ontario, Canada September 23, 2022. REUTERS/Blair Gable


By Steve Scherer

OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau and South Korean President Yoon Suk-yeol on Friday agreed to deepen cooperation on important minerals utilized in electrical autos (EVs) batteries as each nations search to chop emissions to struggle local weather change.

Yoon visited London for the funeral of Queen Elizabeth, after which New York in his first U.S. journey to attend the U.N. Common Meeting, earlier than arriving in Canada on Thursday. On Friday, Yoon met Trudeau in Ottawa, after which they each spoke to reporters.

“Yoon and I mentioned methods to collaborate in quite a lot of areas, together with important minerals, batteries for electrical autos, and rising applied sciences, together with AI (synthetic intelligence),” Trudeau instructed reporters.

Canada has lots of the important minerals – like lithium, cobalt and nickel – that at the moment are used to make batteries for EVs, and the federal government is within the strategy of in search of to assist producers and processors scale up manufacturing.

“Canada, as a world chief within the manufacturing of minerals, and Korea, a significant semiconductor and battery maker – every play essential roles in international provide chains,” Yoon stated via an interpreter.

“The governments and companies of our two nations will work collectively for the mineral sources sector to construct a cooperative structure… to reply to the shocks ensuing from the altering world order,” Yoon added.

China is at the moment by far the dominant international provider of important minerals utilized in EVs. Yoon stated it was strategically essential for each nations to search out another provider.

Canada and South Korea are already cooperating within the sector, Trudeau identified.

In March, Stellantis, the mother or father of Jeep and Chrysler, stated it might construct an EV battery plant in a three way partnership with South Korea’s LG Power Resolution in Windsor, throughout the border from Detroit.

In a joint assertion, the 2 nations stated they agreed to deepen their “strategic partnership on provide chain resiliency” and would search to place themselves as “aggressive gamers within the important minerals provide chain and battery and EV worth chains”.

To that finish, each nations agreed to develop a memorandum of understanding within the coming months to “assist clear vitality transition and vitality safety, together with with respect to important minerals”.


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