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South Korea and B.C. establish partnership on critical minerals

South Korea and B.C. establish partnership on critical minerals

SEOUL, SOUTH KOREA — The governments of South Korea and British Columbia have established a partnership to advance the development of critical minerals.

B.C. signed a statement of co-operation with the Korea Mine Rehabilitation and Mineral Resources Corporation which covers all the stages of critical minerals from exploration and mining to manufacturing and recycling, reads a news release.

KOMIR is owned by the State of South Korea.

“British Columbia, in particular, has the Korean top-10 strategic critical minerals, such as nickel, rare earth, graphite and manganese. KOMIR will actively support Korean private companies to enter Canada to secure critical minerals,” said Kyu-Year Hwang, president and CEO of KOMIR, in the release.

B.C. is the largest producer of copper in Canada and the only producer of molybdenum, both essential materials for technologies such as electric cars, wind turbines and solar power.

Priorities of the agreement include securing a supply chain through trade and investment, strengthening technical capacity through development projects and joint research, and promoting sustainable and safe practices.

The co-operation statement comes as part of Premier David Eby’s ongoing trade mission to Asia.

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