Türkiye and China signed a memorandum of understanding (MoU) for bilateral cooperation in natural resources and mining, Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced Wednesday.
Turkish Minister Bayraktar visited China to discuss cooperation opportunities in the fields of energy and mining.
Bayraktar attended the 26th China Mining Conference and Exhibition in Tiencin in northern China and met with Chinese Minister of Natural Resources Wang Guanghua on the sidelines of the event.
The MoU, signed at the event, envisages facilitating cooperation between the two countries in mining and natural resources, identifying opportunities for cooperation in critical minerals in Türkiye, China and third countries, as well as promoting cooperation in mining technologies and digitalization.
During the meeting, Bayraktar said that energy cooperation between China and Türkiye has developed at a high level with many Chinese companies investing in Türkiye.
‘A new page has been opened in mining with high-level contacts in the last year,’ he added.
‘We believe that this memorandum of understanding signed by Türkiye and China in the field of natural resources and mining, as a legal text, will be an important milestone for further cooperation in the field of mining,’ Bayraktar said.
-Cooperation in critical minerals
Bayraktar stressed the imperative of energy transition for combating climate change and fostering sustainable development.
He also emphasized the crucial role of critical minerals in driving this transformation and advocated for their value-added integration into the economy.
‘We invite Chinese companies in every field of mining to invest in our country, to explore, extract and bring the resources in our country to the economy together,’ he added.
Highlighting Türkiye’s recent discovery of significant rare earth elements and critical minerals reserve, Bayraktar expressed interest in partnering with countries and companies to jointly develop this technology.
He indicated that a decision on this collaboration was imminent.
Bayraktar highlighted ongoing negotiations between Turkish state-owned mining and chemicals firm Eti Maden and Chinese companies regarding the development of Türkiye’s critical minerals reserve.
He expressed confidence in a collaborative approach between the two countries but emphasized the need for swift action to finalize a decision.
For his part, Chinese Minister Wang emphasized the significant potential for mining collaboration between China and Türkiye.
He said that the two countries’ energy ministries would work towards developing mutually beneficial and win-win mining partnerships, aligning with the consensus reached by their country leaders.
– Critical minerals require more investment
Bayraktar also participated in the ministerial session at the conference. During his speech, he highlighted the pivotal role of renewable energy sources in the energy transition.
He emphasized that critical minerals are key for the national security and economic growth of countries as well as for achieving global climate targets.
Citing the International Energy Agency’s prediction of a fourfold increase in critical mineral demand by 2040 to meet Paris Agreement goals, Bayraktar underscored the need for consistent, responsible and rational policies to ensure a successful energy transition.
The Turkish minister stressed the importance of affordable and accessible critical minerals.
He warned that current supply and investment plans for many critical minerals are insufficient to keep pace with the rapid growth of solar panels, wind turbines, and electric vehicles.
Bayraktar emphasized the need for strong international and regional cooperation in the area.
On the sidelines of the conference, Bayraktar also met with the mining ministers of Zimbabwe, Congo, and Tajikistan to explore potential cooperation opportunities between these countries and Türkiye.
