+
India joins US-led Minerals Security Finance Network
ECONOMY & POLICY

India joins US-led Minerals Security Finance Network

India has officially joined the US-led minerals security finance network, which is designed to enhance cooperation and facilitate information sharing and co-financing among institutions in the Indo-Pacific region and Europe, according to the US State Department.

This network aims to promote diverse, secure, and sustainable supply chains for critical minerals, as outlined in the announcement made on Monday. This development comes in response to China's increasing influence over global critical mineral supplies.

"The energy transition is at risk," stated Undersecretary of State Jose Fernandez during discussions at the United Nations General Assembly in New York City. He emphasized the need for increased production capacity for critical minerals, noting that many supply chains are concentrated in just one or two countries, which undermines their resilience.

This initiative is part of the Minerals Security Partnership, a framework established by the US in 2022 alongside 13 countries and the European Commission, aimed at diversifying supply chains for critical minerals among its participants.

India is actively pursuing critical mineral resources from countries such as Argentina, Chile, and Australia, as well as certain African nations. Additionally, Kazakhstan in Central Asia may also become a key supplier for India’s needs.

India has officially joined the US-led minerals security finance network, which is designed to enhance cooperation and facilitate information sharing and co-financing among institutions in the Indo-Pacific region and Europe, according to the US State Department. This network aims to promote diverse, secure, and sustainable supply chains for critical minerals, as outlined in the announcement made on Monday. This development comes in response to China's increasing influence over global critical mineral supplies. The energy transition is at risk, stated Undersecretary of State Jose Fernandez during discussions at the United Nations General Assembly in New York City. He emphasized the need for increased production capacity for critical minerals, noting that many supply chains are concentrated in just one or two countries, which undermines their resilience. This initiative is part of the Minerals Security Partnership, a framework established by the US in 2022 alongside 13 countries and the European Commission, aimed at diversifying supply chains for critical minerals among its participants. India is actively pursuing critical mineral resources from countries such as Argentina, Chile, and Australia, as well as certain African nations. Additionally, Kazakhstan in Central Asia may also become a key supplier for India’s needs.

Next Story
Infrastructure Urban

ITCONS Gains on New Rs 3.5 Million Defence Contract

ITCONS E-Solutions is trading at Rs 549.00, up by Rs 12.10 or 2.25 per cent from its previous close of Rs 536.90 on the BSE. The scrip opened at Rs 549.00 and has touched an intraday high and low of Rs 549.00, with 200 shares traded so far.A BSE ‘MT’ group stock with a face value of Rs 10, ITCONS touched its 52-week high of Rs 767.00 on 25 September 2024 and a 52-week low of Rs 166.70 on 5 August 2024. Over the past week, the stock has fluctuated between Rs 560.00 and Rs 510.60. The company's current market capitalisation stands at Rs 3.3 billion.Promoters hold 58.22 per cent of the compan..

Next Story
Infrastructure Urban

Delhi Extends EV Policy Till March 2026

The Delhi government has extended its existing Electric Vehicle (EV) Policy until 31 March 2026, or until a revised version is approved. The decision was made during a Cabinet meeting chaired by Chief Minister Rekha Gupta on Tuesday.According to Transport Minister Pankaj Kumar Singh, the draft of the new policy will undergo broader public consultation before being finalised, prompting the extension to allow time for thorough stakeholder engagement.The consultation process will include inputs from citizens, environmental groups, academic institutions, industry experts, and private firms. Key fo..

Next Story
Infrastructure Urban

Ather Crosses 400 Fast Chargers in Maharashtra

Electric two-wheeler manufacturer Ather Energy announced on Thursday that it has surpassed 400 fast charging points under its Ather Grid network across Maharashtra.The company's fast charging infrastructure now spans 35 cities in the state, including key urban centres such as Mumbai, Nashik, Pune, and Nagpur."Crossing 400 fast chargers in the state is about giving riders the assurance that they'll always find a charger when they need one. As we expand our retail presence, the charging network will continue to grow in tandem to make EV ownership truly seamless," said Ravneet Singh Phokela, Chie..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?