President Ferdinand Marcos Jr. is urging the Czech Republic to invest in the processing of critical minerals like cobalt, copper, lithium, nickel, and rare earths in the Philippines. INQUIRER.net stock photo
PRAGUE — President Ferdinand Marcos Jr. on Friday asked the Czech Republic to invest in the processing of critical minerals like cobalt, copper, lithium, nickel, and rare earths in the Philippines.
He noted that that the Czech Republic’s expertise in minerals processing is “of particular interest to us.”
“Hence, we invite Czech companies to invest in the processing of our critical minerals, offering a robust diversification plan that can mitigate the risks of global supply chain disruptions as we have seen in recent years,” Marcos said.
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“With mutual respect and understanding, we can forge a partnership that not only benefits our nations, but also contributes to the broader goals of peace, prosperity, and stability in the Indo-Pacific region and beyond,” he added.
Critical minerals are important in the production of clean energy technologies, from wind turbines to electric cars. Annual trade in energy-related critical minerals went up to $ 378 billion from $ 53 billion in the last 20 years.