Brussels became the epicenter of global critical mineral strategy on December 12, as the Minerals Security Partnership (MSP) Principals convened during the European Commission’s Raw Materials Week. The high-level forum brought together government leaders, private sector investors, and policy experts from key MSP member nations to accelerate projects and address the challenges of securing a sustainable and resilient supply of critical minerals essential for global energy transitions.
A United Front for Critical Mineral Supply Chains
The meeting, co-chaired by Kim Jin-dong (Republic of Korea), Jose W. Fernandez (United States), and Kerstin Jorna (European Commission), reflected the growing urgency among MSP members, including Australia, Canada, Germany, Japan, and the UK, to collaborate on securing critical minerals. Rare earth elements, indispensable for technologies such as electric vehicles, wind turbines, and advanced semiconductors, were at the forefront of discussions.
The forum aimed to:
- Accelerate Specific Projects: Efforts were focused on advancing responsible mining, processing, and recycling initiatives, including the HyProMag rare earth elements recycling project across the UK, Germany, and the U.S., as well as the Arafura Nolans Project in Australia.
- Boost Recycling Technology: The Korea Institute of Geoscience and Mineral Resources (KIGAM) showcased its advancements in rare earth elements (REEs) recycling, presenting cutting-edge technologies to reduce dependence on primary mineral extraction.
- Encourage Investment: The MSP Finance Network and the Minerals Investment Network for Vital Energy Security and Transition (MINVEST) emphasized mobilizing private capital for projects in MSP member jurisdictions and countries like Argentina and Greenland.
Policy Innovation: Adding Local Value
A workshop on local value addition, hosted by the European Commission, marked a significant step toward integrating local economies into the global critical mineral supply chain. Topics included:
- Investment Challenges: Addressing obstacles faced by investors in critical mineral value chains.
- Policy Solutions: Governments shared strategies for fostering local value addition, focusing on job creation and community development.
- Case Studies: Practical examples demonstrated how targeted policies could mobilize investments and strengthen regional supply chains.
This workshop is part of a series aimed at aligning policies across MSP member nations to ensure sustainable and equitable development in critical mineral production and processing.
Global Collaboration Expands
The MSP forum also welcomed insights from Argentina and Greenland, highlighting investment opportunities in their critical mineral sectors. These engagements reflect a broadening of MSP’s global reach, fostering inclusivity in developing responsible and secure mineral supply chains.
The Road Ahead: Cape Town and Beyond
The MSP plans to reconvene at Mining Indaba in Cape Town, South Africa, on February 4, 2025. The upcoming event will continue building on the momentum generated in Brussels, focusing on partnerships to scale investment in the African continent’s mineral wealth while ensuring sustainability and local development.
Strategic Significance
The MSP’s work is critical at a time when geopolitical competition over rare earths and critical minerals is intensifying. Dominated by China’s near-monopoly in mineral processing, nations are seeking diversification to safeguard energy transitions and technological advancement. This forum serves as a testament to the MSP’s commitment to fostering responsible mining practices, leveraging advanced recycling technologies, and ensuring equitable growth.
A Shared Vision
The MSP forum in Brussels underscored a shared global vision: securing critical mineral supply chains while ensuring that environmental, social, and governance (ESG) principles guide every step. With increasing focus on renewable energy and decarbonization, the collaborative approach of the MSP marks a significant stride toward a more sustainable and secure global future.