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China dominates the world’s vital mineral supply chain, developing with interests in mines around the world and the midstream segment of refinement and processing. These form major components in the strategic fields including defense, electric mobility, telecommunications and electronics.
A joint statement by Quad Strategic Partners on Wednesday also described the initiative as an ambitious expansion of our partnership to strengthen economic security and collective flexibility by collaborating to secure and diversify the supply chains of important minerals. “
‘Forced, price manipulation’
The statement said, “The dependence on any one country to process and refine the production of important minerals and derivative items exposes our industries to disruptions of economic force, value manipulation and supply chain, which harasses our economic and national security,” the statement said in the statement, “the statement rekers the importance of diverse and reliable global supply chains.
China’s ongoing export curb on rare Earth has disrupted global supply chains, slowing industries, and motivated countries to search for alternative sources.
Professor of Jioconomics at Gokhale Institute of Politics and Economics, Shankalap Gurjar said: “This is an important statement of intentions from quad countries. China dominates the important mineral supply market. Chinese dominance has been deployed as a geo -economic equipment. Supply series safety and significant minerals are deployed as a geo -economic equipment.
Emphasizing the need for effective implementation of the initiative, Gurjar said: “The actual test will be how quad countries work on their purpose.”
Mineral search
The quad has been announced at a time when Prime Minister Narendra Modi has left for five countries tour for Ghana, Trinidad and Tobago, Argentina, Brazil and Namibia, and important minerals are expected in his bilateral meetings in these countries.
P. Kumaran, Secretary (East), in the Ministry of External Affairs, told reporters on Monday: “Argentina’s important minerals such as lithium, copper, and rich reserves of other rare earth elements, fulfill India’s growing requirement for safe and permanent supply for these elements for your clean energy infection and industrial development. Discuss more.”
Important minerals and rare earth elements have been given late importance in public discourse. Development comes at a time when a Japanese trade delegation takes place in India. During a meeting of major businesses of the two countries in the supply chain of batteries and important minerals on Wednesday, the representatives of the industry suggested that India could be a manufacturing and demand hub for important minerals. Under a possible partnership of quad countries, Australia can act as a raw material supplier while Japan and America can provide major technical assistance to partnership to be successful.
Delhi meeting
Some Australian and American businesses in the important mineral supply chain were also part of the discussions that were held in the national capital.
Australia is the largest lithium manufacturer in the world and a major player in the discovery, extraction, production and processing of many major minerals, including coal, iron ore and gold minerals. Amidst tension with China in the South China Sea, Japan is also trying to diversify the sources of important minerals. In 2023, the US and Japan signed an important mineral agreement, including five major minerals related to battery production for clean vehicles.
Abhishek Saxena, a former public policy expert at NITI Aayog, said that the quad has focused on the flexible supply chain in such a way that four countries may dominate the supply chain.
“Take Australia for example. China is dominating the mining and refinement of important minerals there. Not all four countries want this situation. The important minerals are going to be an important for all countries involved. Rare Earth is coming on the backdrop of crisis, it can prove to be an important partnership initiative,” Saxena said.
Galwan and then
Following diplomatic quarrels and military conflicts in Galwan, India has made efforts to diversify its sources of important minerals with steps to set up a local refinement and processing industry for these minerals. In January this year, the government approved the National Important Mineral Mission, which focuses on both those who develop mines, obtain mines abroad and encourage the processing of these minerals within the country. In 2022, the Center came up with a list of 30 minerals, which the Union Ministry of Central Mines described the economy.
India is already a member of the Mineral Safety Partnership (MSP) of the US -led elite class. In June 2023, it became the 14th member of the MSP with the US, Australia, Canada, Finland, France, Germany, Italy, Japan, Norway, Korea, Korea, Sweden, UK and European Commission. The MSP wants to increase the supply chains of vital minerals and ensures that these ores are produced, processed and recycled by catalyzing investment from governments and private sector in full value chain.
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