Consider the following statements regarding Critical raw materials. These materials are consideredcritical due to their potential supply chain risks, geopolitical concerns, and their importance for strategic sectors. Rare Earth Elements are not considered as Critical raw materials. India joinedtheMineral Security Partnership (MSP), which aims to strengthen critical mineral supply chains.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?

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Consider the following statements regarding Critical raw materials.

These materials are considered critical due to their potential supply chain risks, geopolitical concerns, and their importance for strategic sectors.
Rare Earth Elements are not considered as Critical raw materials.
India joined the Mineral Security Partnership (MSP), which aims to strengthen critical mineral supply chains.

How many of the above statements is/are correct?

a)
Only one
b)
Only two
c)
All three
d)
None

Correct answer is option 'B'. Can you explain this answer?

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Consider the following statements regarding Critical raw materials. Th...

The correct answer is option 'B', only two statements are correct. Let's analyze each statement:

1. These materials are considered critical due to their potential supply chain risks, geopolitical concerns, and their importance for strategic sectors.
- This statement is correct. Critical raw materials are those that are essential for various industries and sectors, including defense, energy, and electronics. These materials are considered critical because their supply chains are vulnerable to risks such as limited availability, geopolitical tensions, and disruptions in production and distribution.

2. Rare Earth Elements are not considered as Critical raw materials.
- This statement is incorrect. Rare Earth Elements (REEs) are indeed considered critical raw materials. REEs are a group of 17 elements that are crucial for the production of various high-tech products, including smartphones, electric vehicles, wind turbines, and defense equipment. The supply of REEs is concentrated in a few countries, mainly China, which makes them susceptible to supply chain risks and geopolitical concerns.

3. India joined the Mineral Security Partnership (MSP), which aims to strengthen critical mineral supply chains.
- There is no information provided in the question regarding India joining the Mineral Security Partnership (MSP). Therefore, we cannot determine the accuracy of this statement.

In conclusion, only two statements are correct. Critical raw materials are indeed considered critical due to their potential supply chain risks, geopolitical concerns, and importance for strategic sectors. However, the statement that Rare Earth Elements are not considered critical raw materials is incorrect.

Answered by Notes Wala · View profile

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Consider the following statements regarding Critical raw materials. These materials are consideredcritical due to their potential supply chain risks, geopolitical concerns, and their importance for strategic sectors. Rare Earth Elements are not considered as Critical raw materials. India joinedtheMineral Security Partnership (MSP), which aims to strengthen critical mineral supply chains.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?

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