Minerals Security Partnership (MSP) is an ambitious new alliance formed by the US to secure supply chains of critical minerals.
Some of the rare earth elements available in India are: Lanthanum, Cerium, Neodymium, Praseodymium and Samarium. While others classified as heavy RE elements such as Dysprosium, Terbium, Europium are not available in extractable quantity.
India relies heavily on China for HREE, which is one of the leading producers with an estimated 70 per cent of the global production.
Hence, there is a lot at stake for India. Which is why Union Finance Ministry have reportedly communicated with the Ministry of External Affairs to explore the possibility of how New Delhi can join the 11-member group.
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