Advertisement
UK markets open in 4 hours 51 minutes
  • NIKKEI 225

    38,977.30
    +172.65 (+0.44%)
     
  • HANG SENG

    18,180.30
    +152.59 (+0.85%)
     
  • CRUDE OIL

    81.65
    +0.02 (+0.02%)
     
  • GOLD FUTURES

    2,338.30
    -6.10 (-0.26%)
     
  • DOW

    39,411.21
    +260.88 (+0.67%)
     
  • Bitcoin GBP

    47,738.76
    -2,094.74 (-4.20%)
     
  • CMC Crypto 200

    1,253.97
    -55.75 (-4.26%)
     
  • NASDAQ Composite

    17,496.82
    -192.54 (-1.09%)
     
  • UK FTSE All Share

    4,514.76
    +23.84 (+0.53%)
     

EU, Australia sign MoU to cooperate on critical minerals

54th WEF annual meeting in Davos

BRUSSELS (Reuters) - The European Union and Australia signed a memorandum of understanding (MoU) on Tuesday to cooperate on critical and strategic minerals as the EU tries to diversify its suppliers away from China and Russia and transform its economy to reduce CO2 emissions.

The agreement covers exploration, extraction, processing, refining, recycling, and processing of extractive waste.

"Australia is ... a global leader when it comes to critical raw materials," EU Commission Vice President Valdis Dombrovskis said in a statement.

"This partnership marks a major step forward in our efforts to secure a more sustainable supply of critical raw materials for the EU... This will also help us to deliver the green and digital transition," he said.

ADVERTISEMENT

The EU signed similar agreements with Canada and Ukraine in 2021, Kazakhstan and Namibia in 2022, with Argentina, Chile, Zambia, the Democratic Republic of Congo and Greenland in 2023 and with Rwanda, Norway and Uzbekistan earlier this year.

(Reporting by Jan Strupczewski; editing by Jason Neely)