A new resource race threatens developing economies4 min read . Updated: 02 Aug 2022, 01:11 AM IST
A new mineral security partnership may leave other economies short of key inputs for climate action
On 14 June 2022, the US government’s state department put out a press release on the formation of an international Mineral Security Partnership (MSP). The MSP countries are Australia, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, the UK, US and the European Commission. The partnership was announced at the world’s largest mining event, held in Toronto. The MSP’s stated goal is to ensure that critical minerals are produced, processed and recycled in a way that supports the ability of countries to realize the full economic development of their geological endowments. But, let us see how many global producers of critical minerals are part of the alliance.