Mineral Security Partnership(MSP) And India:
India was recently inducted into the Mineral Security Partnership (MSP).
- Mineral Security Partnership is an ambitious new initiative to bolster critical mineral supply chains, announced by the United States (US) and key partner countries in June 2022.
- The goal of the alliance is to ensure that critical minerals are produced, processed, and recycled in a manner that supports the ability of countries to realise the full economic development benefit of their geological endowments.
- The focus of the grouping would be on the supply chains of minerals such as Cobalt, Nickel, Lithium and also the 17 “rare earth” minerals.
- Critical mineral are mineral deposits with high economic vulnerability and high global supply chain risk.
- The major critical minerals are Graphite, Lithium and Cobalt.
- They are used for making EV batteries and are also critical for making semiconductors and high-end electronics manufacturing.
- These minerals are also used in manufacturing fighter jets, drones, radio sets and other critical equipment.
- The major producers of critical minerals globally are Chile, Indonesia, Congo, China, Australia and South Africa.
- The 17 rare earth elements (REE) include the 15 Lanthanides (atomic numbers 57 — which is Lanthanum — to 71 in the periodic table) plus Scandium (atomic number 21) and Yttrium (39).