UPDATE 1-Nine countries join U.S. strategic minerals initiative

(Adds comment from mining CEO)
Sept 26 (Reuters) - The United States on Thursday said nine
countries have joined its initiative to help discover and
develop reserves of minerals used to make electric vehicles,
part of an effort to cut the world's reliance on China for the
high-tech materials.
Secretary of State Mike Pompeo on Thursday met with foreign
ministers from the nine countries on the sidelines of the United
Nations General Assembly in New York.
The countries joining the United States include Australia,
Botswana, Peru, Argentina, Brazil, Democratic Republic of the
Congo, Namibia, the Philippines and Zambia.
Under the Energy Resource Governance Initiative (ERGI)
announced in June, the United States will share mining expertise
with member countries to help them discover and develop their
minerals such as lithium, copper and cobalt, as well as advise
on management and governance frameworks to help ensure their
industries are attractive to international
investors. "U.S. companies require a certain set of above-ground
conditions regardless of what's below ground," Frank Fannon, the
top U.S. energy diplomat, said in an interview.
Washington grew more concerned recently about its dependence
on mineral imports after Beijing suggested using them as
leverage in the trade war between the world's largest economic
powers. That could interrupt the manufacture of a wide range of
consumer, industrial and military goods, including mobile
phones, electric vehicles, batteries, and fighter
jets. Miners in Congo have struggled to secure their sites from
small scale prospectors digging for minerals. In June, 43
illegal miners were killed by a landslide at a Glencore GLEN.L
facility in Congo, highlighting the challenge.
When it first introduced ERGI, the State Department said
Canada was part of the initiative, but the U.S. neighbor was not
listed as a member on Thursday because Foreign Minister Chrystia
Freeland stayed at home for the election campaign period.
A U.S. official said the Trump administration "remains
hopeful that Canada will join the initiative in the near
future."
Other nations have invested in the United States. An
Australian investment group, formerly known as Morzev Pty Ltd
before changing its name to USA Rare Earth, is developing the
Round Top mine in Texas with Texas Mineral Resources Corp
TMRC.PK .
"Australia sees Round Top as a key investment into the U.S.
critical materials space," said Pini Althaus, USA Rare Earth's
chief executive.
Canada's Medallion Resources Ltd MDL.V , a rival rare
earths company, is considering investing in the United States
and on Thursday said it found a way to automate part of its
production process.