New York, July 22 (Petra) -- United Nations (U.N.) Secretary-General António Guterres said on Wednesday that the mismanagement and illicit exploitation of natural resources have become among the leading drivers of armed conflicts around the world.

Addressing an open debate of the U.N. Security Council (UNSC), Guterres called for strengthening the governance of natural resources to ensure they become a foundation for peace, security and prosperity rather than a source of violence and instability.

He said critical minerals, including lithium, cobalt, nickel and rare earth elements, are assuming increasing strategic importance as global demand rises.

"This presents significant opportunities to drive development in producing countries, but at the same time it fuels geopolitical competition, increases pressure on supply chains, and exacerbates conflicts, with severe humanitarian consequences," he said.

Guterres said revenues generated through the illicit exploitation of natural resources strengthen the capabilities of armed and criminal groups, link local violence to regional and international networks, and undermine prospects for achieving political settlements.

He noted that the UNSC has, in recent years, adopted measures aimed at curbing conflict financing through natural resources, including supporting national authorities in combating illegal exploitation and imposing sanctions targeting the illicit trade in natural resources in several regions.

//Petra// AF