The U.S. Department of State, represented by Under Secretary of State for Economic Growth, Energy, and the Environment Jose W. Fernandez, and the Ministry of Mining and Heavy Industry of Mongolia, represented by Minister J.Ganbaatar signed on June 27, 2023 in Ulaanbaatar, Mongolia, a Memorandum of Understanding (MOU) concerning cooperation on Mineral Resource Sector Development and Governance.
Under this MOU, the United States and Mongolia intend to cooperate to strengthen sound practices in mineral resource sector development in both nations, and to jointly advance secure and resilient critical mineral supply chains in the Indo-Pacific region.
The United States and Mongolia share a common interest in developing mineral resources for mutual economic and resource security and in supporting economic development. Both countries possess technical, operational, and sector management expertise that can be leveraged through close cooperation.
The United States intends to collaborate with Mongolia on the sustainable exploration and development of its mineral resource potential. This collaboration could be through joint geoscience-related field work, workshops, peer exchanges, training, and engagement on investment and regulatory frameworks. Potential joint activities under the MOU may include cooperation between government agencies, academic institutions, and private sector entities.