India, US sign framework to secure critical mineral supplies
Amid increasing concerns about China’s controls on rare earth exports and strategic metals vital to global technology supply chains, India and the US have firmed up a key framework for cooperation in ensuring steady supplies of critical minerals. On the sidelines of the Quad foreign ministers’ meeting, the framework on securing supplies of mining and processing of critical minerals was signed.
External Affairs Minister S Jaishankar described the development as ‘very timely and significant’. He stated ‘This framework aims to deepen our cooperation across the entire critical minerals and rare earth supply chain, including mining, processing, recycling and related investment.’ Further, he said the framework is expected to boost resilient and diversified supply chains, help finance projects, and ensure effective management of critical minerals and rare earths.
He said ‘It is one more sign of how close our cooperation has been in a world where there are so many challenges but also so many opportunities’. Besides, US Secretary of State Marco Rubio underlined the strategic partnership between the US and India, emphasizing its significance for the national interests of both nations. He stated ‘We are two countries that have strategic interests in ensuring reliable long-term access to critical minerals and supply chains that are important for our innovation economy.’
