{kanada_flagge}Actually, the idea of ION Energy (WKN A2QCU0 / TSXV ION) founder and CEO Ali Haji was to secure lithium projects in Mongolia, in order to operate directly at the gates of China, the largest end user of the globally sought-after battery metal. Now, however, it is becoming apparent that the U.S., which is competing fiercely with China for battery raw materials and wants to make itself independent of the People’s Republic, is also very interested in Mongolia’s mineral resources!
{kanada_flagge}Actually, the idea of ION Energy (WKN A2QCU0 / TSXV ION) founder and CEO Ali Haji was to secure lithium projects in Mongolia, in order to operate directly at the gates of China, the largest end user of the globally sought-after battery metal. Now, however, it is becoming apparent that the U.S., which is competing fiercely with China for battery raw materials and wants to make itself independent of the People’s Republic, is also very interested in Mongolia’s mineral resources!
Because apparently just yesterday U.S. Undersecretary of State for Economic Growth, Energy and Environment Jose W. Fernandez signed a Memorandum of Understanding with the government of Mongolia to jointly „advance secure and resilient critical mineral supply chains in the Indo-Pacific region”!
The MOU already includes a framework for Mongolia and the United States to cooperate in technical areas to support Mongolia’s efforts to build capacity to promote investment in its extractive sector, which is critical to the global energy transition.
The United States and Mongolia, as strategic partners, have a mutual interest in strengthening their economies and making them more resilient, the U.S. State Department announcement said. Critical minerals and rare earth elements would play an increasingly important role in the economies of both countries and developing these deposits would help strengthen the economies of both countries, was added. The U.S. is willing to explore ways to help develop this sector in Mongolia by encouraging private sector investment.
So, it looks like ION Energy had the right nose to settle with in Mongolia its first projects (meanwhile they also have hard rock projects in Canada). In our opinion, the proximity to the giant market China speaks just as much in favor of the company as today’s news about the interest of the U.S. Especially since only recently France and the EU had also shown interest in the raw materials from Mongolia.
According to ION Energy CEO Ali Haji, “This announcement demonstrates unwavering U.S. support for working with Mongolia to discover and extract metals critical to the energy transition.”
We are excited to see what happens next!
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