AKIPRESS.COM - 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 Ganbaatar Jambal, signed a Memorandum of Understanding (MOU) on cooperation on Mineral Resource Sector Development and Governance on June 27.

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 press service of the U.S. Department of State notes.

The United States and Mongolia have an interest in developing mineral resources for mutual economic and resource security and in supporting economic development.  The countries possess technical, operational, and sector management expertise that can be leveraged through close cooperation.

The U.S. 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, the press service adds. Potential joint activities under the MOU may include cooperation between government agencies, academic institutions, and private sector entities.