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Canada, South Korea seek deeper cooperation on critical minerals

By Steve Scherer OTTAWA (Reuters) - Canadian Prime Minister Justin Trudeau and South Korean President Yoon Suk-yeol on Friday agreed to deepen cooperation on critical minerals...

By Steve Scherer

OTTAWA (Reuters) - Canadian Prime Minister Justin Trudeau and South Korean President Yoon Suk-yeol on Friday agreed to deepen cooperation on critical minerals used in electric vehicles (EVs) batteries as both countries seek to cut emissions to fight climate change.

Yoon visited London for the funeral of Queen Elizabeth, and then New York in his first U.S. trip to attend the U.N. General Assembly, before arriving in Canada on Thursday. On Friday, Yoon met Trudeau in Ottawa, and then they both spoke to reporters.

"Yoon and I discussed ways to collaborate in a variety of areas, including essential minerals, batteries for electric vehicles, and emerging technologies, including AI (artificial intelligence)," Trudeau told reporters.

Canada has many of the critical minerals - like lithium, cobalt and nickel - that are now used to make batteries for EVs, and the government is in the process of seeking to help producers and processors scale up production.

"Canada, as a global leader in the production of minerals, and Korea, a major semiconductor and battery maker - each play crucial roles in global supply chains," Yoon said through an interpreter.

"The governments and businesses of our two nations will work together for the mineral resources sector to build a cooperative architecture... to respond to the shocks resulting from the changing world order," Yoon added.

China is currently by far the dominant global supplier of critical minerals used in EVs. Yoon said it was strategically important for both countries to find an alternative supplier.

Canada and South Korea are already cooperating in the sector, Trudeau pointed out.

In March, Stellantis, the parent of Jeep and Chrysler, said it would build an EV battery plant in a joint venture with South Korea's LG Energy Solution in Windsor, across the border from Detroit.

In a joint statement, the two countries said they agreed to deepen their "strategic partnership on supply chain resiliency" and would seek to position themselves as "competitive players in the critical minerals supply chain and battery and EV value chains".

To that end, both countries agreed to develop a memorandum of understanding in the coming months to "support clean energy transition and energy security, including with respect to critical minerals".

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05-10-2022 15:31:31 (UTC+7)

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 EUR/USD0.9934Sell
 GBP/USD1.1398Neutral
 USD/JPY144.43↑ Sell
 AUD/USD0.6477↑ Sell
 USD/CAD1.3580↑ Buy
 EUR/JPY143.46↑ Sell
 EUR/CHF0.9768↑ Buy
 Gold1,720.05↑ Sell
 Silver20.700↑ Sell
 Copper3.4680↑ Sell
 Crude Oil WTI86.19Neutral
 Brent Oil91.58↑ Sell
 Natural Gas6.708↑ Sell
 US Coffee C218.78↑ Buy
 Euro Stoxx 503,447.15↑ Sell
 S&P 5003,790.93↑ Buy
 DAX12,545.82↑ Sell
 FTSE 1006,992.95↑ Sell
 Hang Seng18,069.00↑ Sell
 Small Cap 20001,775.77↑ Buy
 IBEX 357,576.77↑ Sell
 BASF41.465↑ Sell
 Bayer48.85Sell
 Allianz165.31↑ Sell
 Adidas123.62↑ Sell
 Lufthansa5.904↑ Sell
 Siemens AG105.01↑ Sell
 Deutsche Bank AG7.986Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,550/ 6,630
(0/ 0) # 1,679
SJC HCM6,550/ 6,650
(10/ 10) # 1,698
SJC Hanoi6,550/ 6,652
(10/ 10) # 1,700
SJC Danang6,550/ 6,652
(10/ 10) # 1,700
SJC Nhatrang6,550/ 6,652
(10/ 10) # 1,700
SJC Cantho6,550/ 6,652
(10/ 10) # 1,700
Cập nhật 05-10-2022 15:31:33
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KRW14,5217,70
Cập nhật lúc 14:29:44 05/10/2022
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