The Minerals Security Partnership was announced in June 2022, with an aim to strengthen critical mineral supply chains. Also know what are critical minerals, and why they are so important.
The Minerals Security Partnership (MSP) is an ambitious new initiative to bolster critical mineral supply chains, announced by the United States (US) and key partner countries in June 2022. During the Prospectors and Developers Association of Canada convention in Toronto, the largest mining event in the world, the US and key partner countries made the announcement.
However, India is not a part of this partnership.
According to a statement released by the US Department of State, the goal of the MSP is to ensure that critical minerals are produced, processed, and recycled in a manner that supports the abilities of countries to realise the full economic development benefit of their geological grants.
Critical minerals are essential for clean energy and other technologies, and the demand for these minerals is projected to expand significantly in the future.
The partnership will help catalyse investment from governments and the private sector for strategic opportunities that adhere to the highest environmental, social, and governance standards, across the full value chain, the statement said.
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