Genesis: Launched in 2022.
Objective: To facilitate public and private sector investments in strategic critical minerals projects to help build more secure, diverse, and sustainable critical mineral supply chains.
Members: It includes 14 countries and the European Union, which collectively account for over 50% of Global GDP.
- India joined in 2023.
Investments by MSP are not limited to projects in MSP partner countries.

An initiative of the Minerals Security Partnership, it is a joint financing body designed to fund critical minerals projects across the globe.
Objectives: To unite institutions from the Indo-Pacific region and Europe to strengthen cooperation, promote information exchange and co-financing among participating institutions, with the aim of advancing diverse, secure, and sustainable supply chains for critical minerals.
- It will also drive sustainable investmentin global critical mineral supply chains, including by mobilizing private sector capital, in production, extraction, processing, recycling, and recovery projects.
Members: 14 countries including India and the European Commission.
- It also includes the US International Development Finance Corporation (DFC), European Investment Bank (EIB), Japan International Cooperation Agency (JICA), among others.

What are Critical Minerals?

These minerals are building blocks of essential modern-day technologies and are at risk of supply chain disruptions due to limited global production and geopolitical factors.
- e.g., Lithium, cobalt, nickel, copper, rare earth elements, etc.
Government of India has released a list of 30 critical minerals for India.
- These minerals are - Antimony, Beryllium, Bismuth, Cobalt, Copper, Gallium, Germanium, Graphite, Hafnium, Indium, Lithium, Molybdenum, Niobium, Nickel, PGE, Phosphorous, Potash, REE, Rhenium, Silicon, Strontium, Tantalum, Tellurium, Tin, Titanium, Tungsten, Vanadium, Zirconium, Selenium, and Cadmium.

What are the challenges in securing Critical Minerals for India?

Limited domestic reserves: India lacks significant deposits of many critical minerals within its territory necessitating heavy reliance on imports and exposing to supply chain vulnerabilities.
- Low private investment, limited technological expertise, and evolving regulations further hinder domestic production of critical minerals.
Geopolitical complexities: e.g., Democratic Republic of Congo supplies ~70% of the world's cobalt, but political instability there has led to supply disruptions affecting industries relying on cobalt for batteries and alloys.
Global competition and supply chain vulnerabilities: e.g., China controls ~85% of global rare earth element processing capacity and ~60% of critical minerals production, resulting in a virtual monopoly over critical minerals for high-tech manufacturing.
Environmental Concerns: Mining and processing of critical minerals often have significant environmental footprint resulting in protests from local population and environmental groups.
Inadequate recycling infrastructure: Recycling of critical minerals from e-waste and spent technologies is underdeveloped, with the sector remaining largely unorganized and inefficient.

Establish a National Institute/Centre of Excellence on Critical Minerals: Set up a Centre of Excellence for Critical Minerals (CECM) under the Ministry of Mines to focus on critical mineral research, discovery, and innovation, modeled after Australia's CSIRO.
Boost domestic processing capabilities: Establish Special Economic Zones (SEZs) focused on critical mineral processing and value addition.
- Implement a "Green Channel" for quick approvals of critical mineral projects, with stringent but efficient environmental and social impact assessments, etc.

Promote Circular Economy in critical mineral recovery: Setting up state-of-the-art e-waste recycling facilities in urban centres, introducing a nationwide "Recycle for Resources" campaign to increase public awareness and participation in e-waste recycling, urban mining, etc.
Public-Private Partnerships: Establish joint ventures with global Original Equipment Manufacturers (OEMs) and mining companies to build resilient value chains and achieve India's green energy goals.