Consider the following statements:  

I. India has joined the Minerals Security Partnership as a member.  

II. India is a resource-rich country in all the 30 critical minerals that it has identified.  

III. The Parliament in 2023 has amended the Mines and Minerals (Development and Regulation) Act, 1957 empowering the Central Government to exclusively auction mining lease and composite license for certain critical minerals.   

Which of the statements given above are correct?   

  • I and II only 
  • II and III only 
  • I and III only 
  • I, II and III  

Answer: (c) I and III only 

  • The Minerals Security Partnership (MSP) is a U.S.-led initiative aimed at strengthening and diversifying global critical mineral supply chains. It seeks to promote strategic projects and attract investments across the value chain through collaboration with industry and partner governments. In June 2023, India became the 14th member of the MSP.
  • India is not resource-rich in many critical minerals essential for its economic and strategic needs.
    • To address this, the Government released a list of 30 critical minerals in June 2023 and has enhanced exploration efforts through the Geological Survey of India (GSI) and other agencies. In 2025, the National Critical Mineral Mission (NCMM) was launched to build a robust framework for self-reliance in this sector. Under the mission, GSI will undertake 1,200 exploration projects between 2024–25 and 2030–31.
  • In 2023, the Indian Parliament amended Mines and Minerals (Development and Regulation) Act, 1957 to give the Central Government exclusive powers to auction mining leases and composite licenses for for 24 critical minerals listed in the new Part-D of the First Schedule to the said Act which includes the Lithium bearing minerals, Niobium bearing minerals and minerals of the “rare earths” group not containing Uranium and Thorium.
Mineral Security Partnership 
  • Genesis: a US-led, 14-member international initiative launched in June 2022 to catalyse public and private investment in critical mineral supply chains.
  • Objective: To facilitate public and private sector investments in strategic critical minerals projects to help build more secure, diverse, and sustainable critical mineral supply chains. 
  • Members: It includes 14 countries and the European Union, which collectively account for over 50% of Global GDP.
    • India joined in 2023.
  • Investments by MSP are not limited to projects in MSP partner countries. 
  • MSP Finance Network:
    • An initiative of the Minerals Security Partnership, it is a joint financing body designed to fund critical minerals projects across the globe.
    • Objectives: To unite institutions from the Indo-Pacific region and Europe to strengthen cooperation, promote information exchange and co-financing among participating institutions, with the aim of advancing diverse, secure, and sustainable supply chains for critical minerals.
      • It will also drive sustainable investmentin global critical mineral supply chains, including by mobilizing private sector capital, in production, extraction, processing, recycling, and recovery projects.
    • Members:14 countries including India and the European Commission. 
      • It also includes the US International Development Finance Corporation (DFC), European Investment Bank (EIB), Japan International Cooperation Agency (JICA), among others.
What are Critical Minerals?
  • These minerals are building blocks of essential modern-day technologies and are at risk of supply chain disruptions due to limited global production and geopolitical factors.
    • e.g., Lithium, cobalt, nickel, copper, rare earth elements, etc.
  • Government of India has released a list of 30 critical minerals for India.
    • These minerals are – Antimony, Beryllium, Bismuth, Cobalt, Copper, Gallium, Germanium, Graphite, Hafnium, Indium, Lithium, Molybdenum, Niobium, Nickel, PGE, Phosphorous, Potash, REE, Rhenium, Silicon, Strontium, Tantalum, Tellurium, Tin, Titanium, Tungsten, Vanadium, Zirconium, Selenium, and Cadmium.
Securing Critical Minerals for India