Minerals Security Partnership And India
Source : Indian Express
GS II : International Relations

What is discussed under Minerals Security Partnership And India?

1. About the Minerals Security Partnership
2. What are the major Critical Mineral ? 
3. Major concerns in India

Why in News ?

Growing concern in the Government over India not finding a place in the Minerals Security Partnership, an ambitious new US-led partnership to secure.

Key Facts

What is Mineral Security Partnership (MSP) ?

• • United States recently announced the formation of a global alliance called the Mineral Security Partnership (MSP).

    

  • Background :
    • To break the dominance and reduce dependence on China in mining and processing rare earth minerals.
    • Demand for critical minerals, which are essential for clean energy and other technologies, is projected to expand significantly in the coming decades.
  • Other countries to have joined this partnership are : Australia, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, the UK, and the European Commission.
  • Announcement : The partnership was announced at the world’s largest mining event, held in Toronto in June. 

What are the major Critical Mineral ? 

• • They are mineral deposits with high economic vulnerability and high global supply chain risk.
  • Major focus on minerals on such as Cobalt, Nickel, Lithium and also the 17  rare earth minerals.
    • Rare earth (RE) comprises seventeen elements and are classified as light RE elements (LREE) and heavy RE elements (HREE).
  • Among critical minerals Graphite, Lithium and Cobalt, they are used for making EV batteries and are also critical for making semiconductors and high-end electronics manufacturing.
  • They are critical for aerospace, communications and defence industries.

Who are the top producers ?

• • According to International Energy Agency in 2021 and subsequently updated in March 2022, the major producers of critical minerals globally are Chile, Indonesia, Congo, China, Australia and South Africa.
  • Aong these global giants in minerals, only Australia and Japan as part of Mineral Security Partnership.

Major concerns in India

• • Some of the rare earth elements available India are : Lanthanum, Cerium, Neodymium, Praseodymium and Samarium while Dysprosium, Terbium, Europium are not available in extractable quantity.
  • Because India lacks knowledge and technology for extraction and process, it would not have been accepted into the MSP grouping.
  • India has an ambitious plan to convert a large percentage of its transport to electric, and would require these minerals.
  • There is a dependence on countries such as China for HREE.
  • Like the other countries demand for critical minerals which are essential for clean energy and other technologies is projected to expand significantly in the coming decades.

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