The Minerals Security Partnership (MSP) Explained

The Minerals Security Partnership(MSP) is a US-led collaboration of 14 countries (Australia, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, UK, the European Commission, Italy, and now India) It aims to enhance public and private investment in critical mineral supply chains globally. A joint statement was issued by India-US governments during Prime Minister Modi’s visit to the United States. India’s inclusion is crucial in this partnership because a key aspect of New Delhi’s growth strategy is a shift to electric vehicles along with indigenous electronics and semiconductor manufacturing. India and Australia have already signed the Critical Minerals Investment Partnership - a major milestone in building new supply chains underpinned by critical minerals processed in Australia that will help India’s plans to lower emissions from its electricity network and become a global manufacturing hub, including for electric vehicles.
Before India, the partnership was expanded earlier this year to include Italy. Ironically, countries like Indonesia, Vietnam, the Democratic Republic of Congo, which have abundant reserves of critical minerals are not part of this strategic grouping formed by the US.
A key goal of this partnership is to reduce the dependence on China to secure critical minerals. The critical minerals that the MSP is likely to focus on include Cobalt, Nickel and Lithium which are used in manufacturing of batteries of electric vehicles and wind turbines along with 17 ‘rare earth’ minerals that are key components of semiconductors. Rare earth minerals are classified into light(atomic numbers 57-63) and heavy REE(atomic numbers 64-71). The former are more abundantly available while the latter are rarer in nature and consequently more expensive.
Most countries are dependent on China for REEs not only because the country has developed a mineral processing infrastructure but also because China has acquired mines in Africa to source cobalt. It dominates roughly *60% of global RE production. Additionally, geopolitical uncertainties, unfavorable rising of prices, COVID-19 pandemic and the ongoing Russia-Ukraine war have resulted in the supply chain disruptions across the globe for these critical minerals
The MSP has shortlisted several projects to collaborate in sharing of expertise, developing battery materials and jointly developing a minerals processing facility in South America.
*www.nature.com...

[@Ravenxxo]

Amazing video. It let me into an uncharted territory of knowledge- rare earth elements, and its economics and the resultant geopolitics. Thanks DTE !

[@bnchemicals]

We have abundant resources of monazite beach sand from which rare earth metals had traditionally been extracted by a public sector entity that is Indian rare Earth limited. A lot of taxpayers money has been spend in past on these public sector organisations without any fruitfull results. Substantial lithium deposits have also been discovered in our country. The need of the hour is to become self-sufficient In these critical minerals. The only way through which we can achieve this is allowing Indian private sector to enter in these critical areas.

[@somasekhar504]

Making the private sectors to extract rare earth elements may lead to environmental plundering

[@CitiesForTheFuture2030]

We've had centuries of colonialism where resource extraction by colonial powers led to social inequality, injustice, great suffering & enviro & biodiversity devastation etc etc etc. Most developing countries are still living the negative consequences today. Can we do things better this time please? There is such a thing as doing the wrong thing for the right reason. We need to ensure ecological restoration, economic prosperity for all (not just elites), socio-cultural equality & justice awa political integrity & transparency. Let's not set back social progress back to the 17th century. Thanks.

[@balramkumar3875]

🎉🎉😊