Assistant Secretary of State for Energy Resources Francis Fannon and Australian Ambassador Joe Hockey signed a memorandum of understanding (MoU) today in Washington, DC, on energy mineral resources. This MoU is the first of its kind to come out of the new Energy Resources Governance Initiative (ERGI) launched by the U.S. Department of State on June 11 and convened with partners at the United Nations General Assembly on September 26. Matt Canavan, Australian Minister for Natural Resources and Northern Australia also attended the MoU signing.
The MoU and ERGI reflect the increasing global urgency to develop best practices for sustainable mineral development underpinning clean energy technologies. ERGI provides a framework for partner countries to advance governance principles, share best practices, and encourage a level playing field surrounding critical minerals. The new MoU: 1) promotes responsible and sustainable mining practices in the energy mineral sector, 2) supports resilient supply chains of energy minerals by facilitating trade and industry connectivity, and 3) establishes measures to meet expected demand for clean energy technologies including involvement of financial institutions in mining and processing projects.
The United States and Australia recognize that global demand for energy minerals will increase dramatically in the coming years, presenting complex challenges for countries endowed with these minerals. The United States and other ERGI partner countries are building best practices for sound energy mineral mining governance and regulatory regimes to enable investment.
For more information about the Energy Resources Governance Initiative, see:
For further information, contact Donald Kilburg, Spokesperson for the Bureau of Energy Resources, at KilburgDF@america.gov or visit www.state.gov/e/enr. Additional information is available on Twitter at @EnergyAtState.