South Korean government designates ten key minerals including lithium, nickel and cobalt
2023-03-10 15:26:25 [Print]
The Ministry of Industry, Commerce and Energy (MOTIE) of South Korea announced the key mineral protection strategy on February 27, designating 10 minerals needed for semiconductor and storage battery production, including lithium and nickel, as key minerals and giving them priority management.
MOTIE selected 33 minerals needed for cutting-edge industries such as semiconductor and storage battery, and designated 10 of them as the top ten strategic key minerals for priority management. The top ten minerals include lithium, nickel, cobalt, manganese, graphite and rare earth.
The South Korean government will develop a global mineral map and supply and demand map of key minerals, and establish an early warning system. In addition, the government decided to extend the number of days it can reserve key minerals from 54 days to 100 days to cope with the supply and demand crisis.
MOTIE selected 33 minerals needed for cutting-edge industries such as semiconductor and storage battery, and designated 10 of them as the top ten strategic key minerals for priority management. The top ten minerals include lithium, nickel, cobalt, manganese, graphite and rare earth.
The South Korean government will develop a global mineral map and supply and demand map of key minerals, and establish an early warning system. In addition, the government decided to extend the number of days it can reserve key minerals from 54 days to 100 days to cope with the supply and demand crisis.
Nickel Ore Philippine 1.5%min CIF China
Unit:USD/mt
China refined nickel producers' inventory statistics by province by month
Unit: mt
