Washington, Feb 5 (SocialNews.XYZ) South Korea will lead a new multinational initiative, launched under a US push to beef up cooperation with allies on critical minerals supply chains, through June, the State Department said, as Washington steps up efforts to counter China's formidable clout over key resources.
The department made the announcement on Seoul's role for FORGE, or Forum on Resource Geostrategic Engagement, after the inaugural Critical Minerals Ministerial, a meeting aimed at reinforcing and diversifying supply chains for critical minerals key to the manufacturing of high-tech military and consumer products, reports Yonhap news agency.
"FORGE, which will be chaired by the Republic of Korea through June, will lead with bold and decisive action to address ongoing challenges in the global critical minerals marketplace," the department said in a fact sheet.
"Understanding the benefits of working together and building on the MSP, FORGE partners will collaborate at the policy and project levels to advance initiatives that strengthen diversified, resilient, and secure critical minerals supply chains," it added.
MSP is short for the Minerals Security Partnership, a precursor to FORGE. South Korea previously served as the MSP chair as well.
U.S. Secretary of State Marco Rubio hosted the ministerial meeting on critical minerals at the State Department, where officials from 54 countries and the European Commission participated, including South Korean Foreign Minister Cho Hyun and representatives from Japan, Australia, Canada and India, to name a few.
At the start of the meeting, U.S. Vice President JD Vance said that U.S. President Donald Trump's administration is seeking a "preferential trade zone," which will maintain "price floors" through "adjustable tariffs" and guard itself from "external disruptions."
The meeting came as Washington has been intensifying efforts to bring allies and partners closer together to address supply chain vulnerabilities and other risks as China wields dominant influence over rare earths and other vital resources.
—IANS
na/
Source: IANS
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