New Delhi [India], May 26 (ANI): India, Australia, Japan, and the United States on Tuesday unveiled the Quad Critical Minerals Initiative Framework, pledging to mobilize up to USD 20 billion in government and private sector support to strengthen secure and resilient critical minerals supply chains across the Indo-Pacific region.
The announcement was made shortly after the Quad Foreign Ministers’ Meeting, where partner countries agreed on the Quad Critical Minerals Initiative Framework to support the development of secure critical minerals supply chains essential for advanced technologies, economic growth, and the resilience of industrial bases.
According to an official statement from the Ministry of External Affairs, the partners aim to work together through economic policy tools and coordinated investment to accelerate the development of diversified and fair critical mineral markets.
The initiative also seeks to support the supply of critical minerals that are crucial to the region’s economic growth and security.
The framework outlines key areas of cooperation among the Quad partners on critical minerals supply chains while respecting each country’s domestic policies and priorities.
The cooperation will focus on three major areas: investments and project development, regulatory alignment, and the recycling and recovery of critical minerals.
Quad partners intend to mobilize up to USD 20 billion in government and private sector support through both new and existing efforts to strengthen critical minerals supply chains, including mining, processing, and recycling.
The initiative will involve identifying projects with a Quad nexus that address supply chain gaps, supporting strategic critical minerals projects, and exploring new mechanisms to mobilize private capital and strengthen supply chains across Quad countries and the broader region.
The statement further noted that Quad partners will work to improve the overall environment for critical minerals development in accordance with their domestic laws.
This includes sharing information on best practices and technical approaches related to permitting, licensing, and regulatory processes, including measures aimed at accelerating or streamlining approval timelines.
The partners will also cooperate on technology development and capacity building related to geological mapping and resource assessment.
In addition, the Quad countries will explore the feasibility of coordinated measures to address non-market policies and unfair trade practices, including high-standard marketplaces and pricing mechanisms.
The partners also plan to improve the recovery and use of critical minerals from e-waste and other scrap materials to strengthen supply chains and promote recycling within Quad and like-minded countries.
This effort will include facilitating investment in recycling technologies, processes, and collection networks in collaboration with the private sector, as well as enhancing the recovery of critical minerals.
The statement added that the members will promote innovation in the recovery and recycling of critical minerals from e-waste and scrap materials and explore cooperation to streamline export and import procedures for relevant waste and scrap among Quad partners, in line with domestic laws, regulations, and international obligations. (ANI)
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