OREANDA-NEWS  The Republic of Korea and Mongolia have signed a memorandum of understanding on cooperation in the supply chains of metals such as nickel and tin. The relevant information was published on the website of the Ministry of Trade, Industry and Energy of the Republic of Korea on Wednesday.

The document was signed on Wednesday in Seoul by the Second Deputy Minister of Trade Park Il-jung and the Mongolian Minister of Mining and Heavy Industry Zhambalyn Ganbaatar. The ceremony was attended by the Prime Minister of the Republic of Korea Han Dok-soo and his colleague Luvsannamsrain Oyun-Erdene, who is in Seoul on a visit.

In particular, the parties agreed to establish an intergovernmental committee for cooperation in the field of rare metals mining within a year, strengthen cooperation in the field of joint exploration, development of deposits, exchange information and technologies, as well as delegations.

The South Korean agency notes that competition between importing countries for key natural resources has become fierce in the world and that the signing of a memorandum with Mongolia is part of the authorities' efforts to "ensure the stability of supply chains."