Alparslan Bayraktar, Minister of Energy and Natural Resources, discussed investment opportunities in renewable energy with Energy China. Rare elements are also on the table.
Minister of Energy and Natural Resources Alparslan Bayraktar X received Energy China President Lin Xiaodan and the accompanying delegation at the ministry, according to a post on his social media account.
Bayraktar used the following statement regarding the meeting: ‘We discussed the details of large-scale investment opportunities in renewable energy to be realised in our country, which we discussed during our trip to China in May.’
Turkey and China are getting closer in energy and rare earth elements
Last May, Minister Bayraktar met with Vang Guanghua, Minister of Natural Resources of China and Cang Cienhua, Chairman of the National Energy Administration during his visit to China. During the meetings, critical minerals, rare earth elements, natural resources, mining, renewable energy and nuclear energy studies were discussed and a ‘Memorandum of Understanding on Cooperation in the Field of Energy Transformation’ was signed.
As a reflection of this, a new ministerial-level meeting was held with Energy China in Turkey. The full details of this meeting have not yet been disclosed to the press.
Rare earth elements on the table
On the other hand, according to Bloomberg, Turkey is taking important steps to partner with China for the processing of rare earth elements. This potential co-operation could make Turkey a more attractive destination for Chinese electric vehicle and battery manufacturers.
According to reports, Minister Bayraktar is preparing to send a delegation to China in October to advance negotiations. Turkey plans to provide a more attractive environment for electric vehicle and battery manufacturers such as Chinese BYD.
Chinese manufacturers are seeking better access thanks to the existing customs agreement between the European Union and Turkey. The European Union has already started to impose additional taxes on Chinese electric vehicles. To avoid these, BYD has signed an agreement to build a factory in Turkey. Turkey is also in separate negotiations with Chery, SAIC, and Great Wall Motor.
Erdoğan had met with Xi Jinping
President Recep Tayyip Erdoğan met with Chinese President Xi Jinping in Kazakhstan in July to discuss cooperation in the development of rare earths.
Two years ago, Turkey discovered the world’s second largest reserve of rare earths in Beylikova near Eskisehir. The Ministry of Energy announced that they were ready to build a refinery there to process this raw material. China’s Global Times newspaper reported that the discovery creates an opportunity for co-operation between China and Turkey, while Turkey aims to convert the components found in Beylikova into individual elements of the highest purity.
Industry and Technology Minister Fatih Kacır said last month that Turkey was continuing its efforts to commission an industrial-scale facility that would enable it to become a major player in the global rare earth elements supply chain. ‘We will move Turkey to a position of having a say in different links of the production chain from raw materials to the final product in electric vehicles, batteries and renewable energy technologies,’ Kacır said.
