- India joined the Mineral Security Partnership (MSP) as its 14th member in June 2023.
- The other members include the United States, Australia, Canada, Japan, and several European
nations. - MSP aims to strengthen critical mineral supply chains to promote economic growth and meet climate
goals. - It focuses on ensuring the production, processing, and recycling of critical minerals by encouraging
investments from both governments and private sectors across the entire value chain.
What is MSP?
- A global group of 14 countries + the EU working together to secure a stable
supply of critical minerals. - Members include India, the US, UK, Australia, Canada, Japan, South Korea,
and the EU, among others. - Committed to high environmental, social, and governance (ESG) standards for
mining and processing.
History
- Launch: Announced in June 2022 during a mining convention in Canada.
- Goal:
- Ensure minerals are produced, processed, and recycled responsibly.
- Help countries benefit economically from their mineral resources.
- India’s Entry: Became a member in June 2023.
- Recent Additions:
- Estonia: Joined in March 2024.
- Argentina: Joined in August 2024.
Key Focus
- Focuses on critical minerals like Lithium, Cobalt, and Rare Earth Elements
essential for modern industries (batteries, electronics, etc.). - Not Interested: As of late 2022, copper, gold, and silver were excluded from its
focus.
Global Collaboration
- MSP works with countries in Africa (e.g., South Africa, Zambia) to support
sustainable mining practices and improve access to minerals.
Criticism
- Concerns were raised that MSP might prioritize mining in other countries over developing domestic resources (e.g., in the US) under the guise of conservation.
Significance for India
- Joining MSP allows India to reduce reliance on China for critical minerals and boost its industries like renewable energy, EVs, and electronics.
