Under Secretary of State for Economic Growth, Energy, and the Environment Jose W. Fernandez signed a Memorandum of Understanding (MOU) with the Government of Mongolia on June 27, 2023, to jointly advance secure and resilient critical mineral supply chains in the Indo-Pacific region. This MOU includes a framework for Mongolia and the United States to work together on technical areas of support to further Mongolia's efforts to develop capacity to encourage investment in its mineral resource sector, which is vital to the global clean energy transition.
As strategic partners, the United States and Mongolia have mutual interest in strengthening our economies and making them more resilient. Critical minerals and rare earth elements play an increasingly important role in our economies, and developing these resources will help strengthen both countries' economies. The United States stands ready to explore opportunities to help develop this sector in Mongolia, including by encouraging private sector investment. This MOU further reflects the United States' broader goal of advancing high environmental, social, and governance standards in the global mining sector.
