Türkiye and South Korea have signed a memorandum of understanding (MoU) to cooperate across critical minerals and rare earth supply chains.
The agreement covers resource identification, processing, refining, recycling, magnet production, and joint research and development.
Turkish Energy and Natural Resources Minister Alparslan Bayraktar and South Korean Trade, Industry, and Resources Minister Kim Jung-Kwan signed the MoU during a bilateral summit in Seoul on 3 November.
The South Korean Government says the countries plan to exchange information on critical mineral and rare earth resources and projects, establish partnerships in advanced rare earth materials, and increase cooperation on digital mine operations.
According to Türkiye’s Ministry of Energy and Natural Resources, the framework also covers autonomous mining, AI, and practices intended to reduce the environmental effects of mining.
Neither country has identified specific projects, participating companies, investment amounts, or an implementation timetable. The MoU establishes a government-to-government cooperation channel but does not represent a commitment to finance or develop a mine or processing facility.
The countries signed two related agreements during the summit. One covers broader energy cooperation and establishes an annual Türkiye-Korea Energy Transition Forum, while the other provides a framework for the Export-Import Bank of Korea and Türkiye Nuclear Energy Company to examine potential financing for nuclear projects.
The minerals agreement aligns with South Korea’s broader green-transition strategy, which supports renewables, batteries, and lower-emissions steel and is expected to increase demand across critical mineral supply chains, as previously reported by Mining.com.au.
The South Korean Government says the MoU is intended to support technology and investment cooperation while helping diversify the country’s critical mineral supply chains.
Write to France Pinzon at Mining.com.au
Main image: Ministry of Energy and Natural Resources (Türkiye)
