Mongolia will deepen cooperation with Washington to mine rare earths, the country's Prime Minister L. Oyun-Erdene said on a visit to Washington on Wednesday, but he warned that a "new Cold War" between the U.S. and China would harm the global economy. Mongolia has extensive deposits of rare earths and copper, which are vital for high tech applications including defense equipment and for President Joe Biden's efforts to electrify the auto market to help stave off climate change.
Luvsannamsrain Oyun-Erdene offers U.S. access to country’s copper and rare earth reserves and foresees drone cargo shipments from the landlocked country.