The US led mineral security partnership where the enlisted 14 nation has welcomed India to participate in this partnership programme. The main motto of this programme is to encourage other countries as well as other public institutions to build up the world’s most important mineral supply chains. India has joined in mineral security partnership to develop their electronic market in the world. But it should also be remembered that to boost up their market India has to produce more electronic tools and they have to secure the supply of critical minerals. Then we should know more about this mineral security partnership and its whereabouts. For further information read below:

 

WHAT IS MINERAL SECURITY PARTERSHIP?

The mineral security partnership was announced by US govt.in June 2022 to strengthen mineral security chain. The goal of this partnership is listed below:

• The goal of the MSP is to strengthen the critical mineral restoration process and the target of this partnership is to produce those minerals and recycled the minerals and use them in proper way.
• The main target is to supply more batteries and vehicles all over the world. All participating countries are mainly investing in mining, processing and recycling development which maintains high environmental standards.
• The creation of this partnership is to increase the demand of critical mineral and to increase the tight supply chain.
• Australia, Canada, Finland, France, Germany, Japan, Korea, Sweden, the United Kingdom, the United States, the European Union, and India have joined the MSP programme.

WHAT WILL BE THE OBJECTIVES OF MNERAL SECURITYPARTNERSHIP?

• To strengthen the sharing of information between partner countries.
• To increase the investment in critical supply chains.
• Developed recycling process.

 

WHAT ARE THE CRITICAL MINERALS THAT HAD BEEN USED IN ENERGY TRANSITION?

Critical minerals like lithium, copper, nickel, cobalt are the essential components of today’s clean energy technologies. The major producers of critical minerals are China, Congo, Chile, Indonesia, South Africa, and Australia and China is the leading country to produce more critical minerals. Demand of this critical energy will increase when the clean energy transition gather its position.

• Solar photovoltaic plants, wind farms, and electric vehicles generally demanded more critical minerals to build than their fossil fuel-based counterparts.
• A normal electric car needs six times more minerals than the conventional car whether the offshore wind plant need thirteen times more mineral resources than a similarly sized gas-fired plant.
• The demand of critical minerals has been increased from 2010 for a new unit of power generation capacity. The amount has been increased by 50% as the new investment has risen.

 

But there are very rare quality critical minerals are there that has been used in different technology.

• Lithium, nickel, cobalt, manganese, and graphite are essential to increase battery performance.
• Some permanent magnets which are called rare earth elements are used in wind turbines and EV motors.
• Electricity network needs more aluminum and copper to crate a strong electricity related technology.

WHAT IS THE SIGNIFICANCE OF MINERAL SECURITY PARTNERSHIP?

• The demand for 5 key critical minerals increases from 1.5 times to 7 times within 2030 in our net zero scenario.
• High and volatile critical mineral prices and highly concentrated supply chains could delay energy transitions or make them costly.
• Minimizing this risk requires action to scale up and diversify supplies alongside recycling and other measures to moderate demand growth.
• It is important to diverse, resilient, and secure clean energy supply chains, including critical minerals.
• MSP had considered 150 or so potential projects for collaboration before selecting.
• In these projects the committee includes developing battery materials, fostering a vital forum for cooperation in the mining and metals industries, and jointly building a processing facility for minerals in South America.

 

INDIA AND MINERAL SECURITY PARTNERSHIP

In India the minerals like cobalt, gallium, graphite, nickel, niobium, strontium etc. are produced and these are important to produce many materials:

• Most of these minerals are used to satisfy the requirements of national security, aviation, high-tech equipment, and green technology.
• Even these minerals are not accessible to all places and even in India there is very considerable amount of minerals.
• India should maintain a policy to restore these critical minerals.

 

INDIA AUSTRALIA CRITICAL MINERAL PARTNERSHIP

India and Australia have decided to build a strong chain for producing and supplying critical minerals under this India -Australia partnership.

• Australia allocated $5.8 million to the three-year partnership in March 2022.
• Australia is the second largest producer of cobalt and the fourth largest producer of rare earths and Australia produces half of the world’s lithium.

This partnership will increase the supply of critical minerals within some years.

Minerals are essential components of which the demand has been increasing day by day in the world of technological advancement. Demand for these minerals will grow quickly as clean energy transitions gather its position. India’s involvement in mineral partnership will gain rapid profit and growth.