Succesful raw material governance Raw Material Conference 2017 ; The Hague, June 23, 2017 Chief Energy Analyst; Petter Nore Norwegian Ministry of Foreign Affairs

Starting points Mining resources are challenging to manage Huge amounts of raw materials neccesary for the transition Expect large price fluctuations in prices and limited access to some minerals Private/Public/civil society cooperation key

Governance ; key for sustainable mining in individual countries Governance related to the mining supply chain A legal and regulatory framework Institutional capacity Transparency and accountability Due diligence No «silver bullets» Balance of interests ; Mobilization of commercial capital vs. «national/local interests» Many initiatives and institutions aim to strengthen governance in mining; but the demand is almost limitless Experience from another raw material: «Oil for development» Economically, environmentally and socially responsible management of petroleum resources Institutions central/ long lead times/revenue management/transparency

«Global governance» in mining We need more information and analysis Set international standards to ensure rare earth minerals are produced in the most ecological and economically efficient way Avoid future «cartellization» Avoid using control of minerals for geopolitical purposes We need to strengthen international dialogue between different stakeholders

How do we do «global governance» in the mining ? Global governance institutions must : Have clear objectives Reflect industrial and geographic power relations Work with and strengthen existing institutions Do we need an arena for exchange of information and strategic thinking? A global forum for exchange of views about the role of minerals in the low energy transition Can we learn more from other sectors; especially the oil and gas sector?

One last questions for discussion Are we underestimating the amount of rare earth minerals in the ground? (Cfr. The Club of Rome and «Peak Oil» discussions)

Norway is in a special position Import  dependency  in Europe Share of renewable electricity production Share of renewable energy use Norway is in a special position. Import  dependency  in Europe, by percentage. Share of renewable electricity production, by percentage. Share of renewable energy use, by percentage. Percentage Percentage Percentage