Minerals Security Finance Network:
India has officially joined the US-led Minerals Security Finance Network.
- It is a new initiative emerging from the Minerals Security Partnership (MSP).
- It is aimed at strengthening global cooperation in securing critical mineral supply chains.
- The network brings together institutions from the Indo-Pacific region and Europe, promoting cooperation, information exchange, and co-financing.
- The partnership includes 13 countries and the European Commission.
- These are the United States of America, Australia, Canada, Estonia, Finland, France, Germany, India, Italy, Japan, the Republic of Korea, Norway, Sweden, the United Kingdom, and the European Union (represented by the European Commission).
- It helps India in diversifying and securing its supply of critical minerals from nations like Argentina, Chile, Australia, and select African countries. Kazakhstan, in Central Asia, is also being explored as a potential source for India’s mineral requirements.
- Minerals Security Partnership is a framework established by the US in 2022.
