Mineral Security Partnership (MSP)

 Context– India has recently been inducted into the  Mineral Security Partnership (MSP), a U.S. led collaboration of 14 countries that aims to catalyze public and private investment in critical mineral supply.

 About  Mineral Security Partnership (MSP):

• The  United States and key partner countries have established  the  Mineral Security Partnership (MSP), under the International Energy Agency(IEA) as an ambitious initiative to bolster critical mineral supply chains. The initiative was made in Toronto during the Prospectors and Developer Association of Canada Convention, the largest mining event in the World.
•  The goal of the MSP is to ensure that critical minerals are produced ,processed and recycled in a manner that supports the ability of countries to realize the full economic development benefit of their geological endowments. 
• The demand for critical minerals which are essential for clean energy and other technologies is projected to expand significantly in the coming decades. 
• The  grouping  focuses on the supply chain of minerals such as cobalt, nickel ,lithium and also the 17 ‘rare earth’ mineral.While cobalt, nickel, lithium are required for batteries used in electric vehicles ,rare earth minerals are crucial in trace amounts in the semiconductors and high-end electronics manufacturing. China is a strong player in this space and has created processing infrastructure in rare earth minerals and has acquired mines in Africa for sourcing elements such as cobalt.
•  Rare Earth comprise 17 elements are and are classified as light RE elements (LREE) and heavy RE elements (HREE), Some REs are available in India such as Lanthanum, cerium,neodymium,praseodymium,and samarium, while others such as dysprosium ,terbium,europium that are classified as HREE are not available in India deposits in extractable quantities. Currently there is an overwhelming dependence on countries such as China for HREE ,which is one of the leading producers of RE with an estimated 70% of the global production.
•  The MSP shall help catalyze investments from governments and the private sector for strategic opportunities- across the full value chain- that adhere to the highest environmental,social, and governance standards.
•  MSP partners- include Australia, Canada, Finland,France,Germany,Japan, the Republic of Korea,Sweden ,the United Kingdom,the United States, and the European Commission that are committed to building robust ,responsible critical mineral supply chains to support economic property and climate objectives.
•  The objectives of the  MSP are:

-Strengthened information sharing between partner countries.

-Increased investment in secure critical minerals supply chains.

-Developed recycling technologies.

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