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Consider the following statements regarding the Mineral Security Partnership:
- It is an ambitious new initiative to bolster critical mineral supply chains announced by China.
- The focus of the grouping would be on the supply chains of minerals such as Cobalt, Nickel, Lithium and also the 17 “rare earth” minerals.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding the Mineral Security Partn...
India was recently inducted into the Mineral Security Partnership (MSP).
About Mineral Security Partnership:
- It is an ambitious new initiative to bolster critical mineral supply chains, announced by the United States (US) and key partner countries in June 2022.
- The goal of the alliance is to ensure that critical minerals are produced, processed, and recycled in a manner that supports the ability of countries to realise the full economic development benefit of their geological endowments.
- The focus of the grouping would be on the supply chains of minerals such as Cobalt, Nickel, Lithium and also the 17 “rare earth” minerals.
What is a critical mineral?
- There is no global definition of critical minerals, but essentially, they are mineral deposits with high economic vulnerability and high global supply chain risk.
What are major critical minerals?
- The major critical minerals are Graphite, Lithium and Cobalt.
- They are used for making EV batteries and are also critical for making semiconductors and high-end electronics manufacturing.
- These minerals are also used in manufacturing fighter jets, drones, radio sets and other critical equipment.
Who are the top producers of critical minerals?
- The major producers of critical minerals globally are Chile, Indonesia, Congo, China, Australia and South Africa.
What are rare earth elements?
- The 17 rare earth elements (REE) include the 15 Lanthanides (atomic numbers 57 — which is Lanthanum — to 71 in the periodic table) plus Scandium (atomic number 21) and Yttrium (39).
Hence only statement 2 is correct.
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Consider the following statements regarding the Mineral Security Partn...
Rare earth elements.
The partnership aims to promote sustainable and responsible mining practices and ensure the stable supply of critical minerals to meet the increasing global demand.
The partnership will engage in research and development activities to enhance mineral exploration, extraction, processing, and recycling technologies.
The member countries of the partnership will collaborate on policies and regulations related to mineral trade and investment to create a favorable environment for the development of critical mineral industries.
The partnership will also work towards enhancing transparency and information sharing regarding mineral reserves, production, and trade to reduce market uncertainties and promote stable prices.
China, being the world's largest producer and consumer of many critical minerals, will play a central role in the partnership's activities.
The Mineral Security Partnership will complement existing international efforts such as the Extractive Industries Transparency Initiative (EITI) and the Kimberley Process Certification Scheme (KPCS) to ensure responsible and sustainable mineral supply chains.
The partnership will also focus on capacity building and technical assistance to help developing countries strengthen their mineral sectors and maximize the benefits from their mineral resources.
The Mineral Security Partnership will provide a platform for dialogue and cooperation among governments, industry stakeholders, and civil society organizations to address challenges and promote best practices in the mineral sector.
The partnership aims to promote sustainable and responsible mining practices and ensure the stable supply of critical minerals to meet the increasing global demand.
The partnership will engage in research and development activities to enhance mineral exploration, extraction, processing, and recycling technologies.
The member countries of the partnership will collaborate on policies and regulations related to mineral trade and investment to create a favorable environment for the development of critical mineral industries.
The partnership will also work towards enhancing transparency and information sharing regarding mineral reserves, production, and trade to reduce market uncertainties and promote stable prices.
China, being the world's largest producer and consumer of many critical minerals, will play a central role in the partnership's activities.
The Mineral Security Partnership will complement existing international efforts such as the Extractive Industries Transparency Initiative (EITI) and the Kimberley Process Certification Scheme (KPCS) to ensure responsible and sustainable mineral supply chains.
The partnership will also focus on capacity building and technical assistance to help developing countries strengthen their mineral sectors and maximize the benefits from their mineral resources.
The Mineral Security Partnership will provide a platform for dialogue and cooperation among governments, industry stakeholders, and civil society organizations to address challenges and promote best practices in the mineral sector.
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Consider the following statements regarding the Mineral Security Partnership: Itis an ambitious new initiative to bolster critical mineral supply chains announced by China. The focus of the grouping would be on the supply chains of minerals such asCobalt, Nickel, Lithiumand also the 17 “rare earth” minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding the Mineral Security Partnership: Itis an ambitious new initiative to bolster critical mineral supply chains announced by China. The focus of the grouping would be on the supply chains of minerals such asCobalt, Nickel, Lithiumand also the 17 “rare earth” minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the Mineral Security Partnership: Itis an ambitious new initiative to bolster critical mineral supply chains announced by China. The focus of the grouping would be on the supply chains of minerals such asCobalt, Nickel, Lithiumand also the 17 “rare earth” minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the Mineral Security Partnership: Itis an ambitious new initiative to bolster critical mineral supply chains announced by China. The focus of the grouping would be on the supply chains of minerals such asCobalt, Nickel, Lithiumand also the 17 “rare earth” minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
Consider the following statements regarding the Mineral Security Partnership: Itis an ambitious new initiative to bolster critical mineral supply chains announced by China. The focus of the grouping would be on the supply chains of minerals such asCobalt, Nickel, Lithiumand also the 17 “rare earth” minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the Mineral Security Partnership: Itis an ambitious new initiative to bolster critical mineral supply chains announced by China. The focus of the grouping would be on the supply chains of minerals such asCobalt, Nickel, Lithiumand also the 17 “rare earth” minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the Mineral Security Partnership: Itis an ambitious new initiative to bolster critical mineral supply chains announced by China. The focus of the grouping would be on the supply chains of minerals such asCobalt, Nickel, Lithiumand also the 17 “rare earth” minerals.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
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