By clicking the “I Accept” button, or by accessing, participating, or submitting any information, or using the Jabil Global Intelligence Portal or any of its associated software, you warrant that you are duly authorized to accept the Global Intelligence Portal Terms and Conditions on behalf of your Company, intending to be legally bound hereby, and your company shall be bound by the terms and provisions of the Global Intelligence Portal Terms and Conditions, accessible under the following link Portal T&Cs.
Global Mechanicals Intelligence
Global Mechanicals Intelligence
ALERT: India – US strengthens their Relations by Signing an MoU on Critical Minerals Supply Chains
Overview of the Situation
India and the US have signed an MoU to strengthen their critical mineral supply chain. Under this MoU, the nations will jointly identify and develop new mineral sources, share technical discoveries & developments, and invest in mining and processing infrastructure. This recent development offers an opportunity for India’s key mineral supply chain players to adapt to the newer technologies which can result in boosting domestic production of crucial materials, that are key for sectors like electronics and renewable energy. This move aligns with India's "Make in India" ambitions and strengthens its strategic ties with the US, while also diversifying critical mineral supply chains.
Supply Chain Specifics:
The MoU between India and the US aims to strengthen a critical mineral supply chain that includes:
- Lithium: Lithium is an essential metal (raw material) for the manufacturing of lithium-ion batteries used in electric vehicles and renewable energy storage. The collaboration could involve sourcing lithium from new regions, including potential exploration and mining projects in India, and sharing expertise on advanced extraction and processing technologies.
- Cobalt: Cobalt is a crucial component in EV batteries as well as consumer electronics batteries. The collaboration between the two countries ensures a focus on responsible sourcing of cobalt from diversified locations.
- Nickel: Nickel is used in batteries for electric vehicles and in stainless steel production. The agreement involves exploring new nickel sources.
- Rare Earth Elements: Rare Earth Elements are a group of 17 elements crucial for various high-tech applications, including magnets in wind turbines, electric vehicles, and consumer electronics. The collaboration involves joint research and development efforts to find new sources of rare earths.
Summary:
India and the US are collaboratively working to secure a reliable supply of critical minerals like lithium, cobalt, nickel, and rare earth elements. This partnership aims to jointly explore new mineral sources, share technology, and invest in mining and processing. This move supports India’s "Make in India" targets and strengthens their strategic relationship with the US.
Back to Top