India was recently inducted into the Mineral Security Partnership (MSP).
GS II: International Relations
Dimensions of the Article:
- About Mineral Security Partnership
- What are Critical Minerals?
- Rare Earth Elements (REE)
Mineral Security Partnership:
- The Mineral Security Partnership is an initiative launched by the United States and key partner countries in June 2022.
- Its primary objective is to strengthen critical mineral supply chains.
- The partnership aims to ensure that critical minerals, including cobalt, nickel, lithium, and the 17 “rare earth” minerals, are produced, processed, and recycled in a way that maximizes the economic development benefits for participating countries.
- By focusing on these specific minerals, the partnership aims to address the challenges and risks associated with their supply chains, which are crucial for various industries and technologies.
- The initiative seeks to enhance the resilience, sustainability, and security of critical mineral supply chains, promoting cooperation and collaboration among partner countries.
What are Critical Minerals?
- Critical minerals are elements that are the building blocks of essential modern-day technologies, and are at risk of supply chain disruptions.
- These minerals are now used everywhere from making mobile phones, computers to batteries, electric vehicles and green technologies like solar panels and wind turbines.
- Based on their individual needs and strategic considerations, different countries create their own lists.
- However, such lists mostly include graphite, lithium and cobalt, which are used for making EV batteries; rare earths that are used for making magnets and silicon which is a key mineral for making computer chips and solar panels.
- Aerospace, communications and defence industries also rely on several such minerals as they are used in manufacturing fighter jets, drones, radio sets and other critical equipment.
Major Critical Minerals:
- The major critical minerals are graphite, lithium, and cobalt.
- These minerals are essential for the production of electric vehicle (EV) batteries, semiconductors, and high-end electronics.
- They are also used in the manufacturing of fighter jets, drones, radio sets, and other critical equipment.
Top Producers of Critical Minerals:
- The top producers of critical minerals globally are Chile, Indonesia, Congo, China, Australia, and South Africa.
- These countries have significant reserves and production capacities for critical minerals.
Rare Earth Elements (REE):
- Rare earth elements are a group of 17 elements in the periodic table.
- They include the 15 lanthanides from lanthanum (atomic number 57) to lutetium (atomic number 71), as well as scandium (atomic number 21) and yttrium (atomic number 39).
- Rare earth elements are important for various high-tech applications, including electronics, magnets, catalysts, batteries, and advanced technology products.
-Source: Indian express