NEW DELHI — India, Australia, Japan and the United States plan to mobilize up to $20 billion in combined government and private-sector investment to strengthen critical minerals supply chains and reduce reliance on concentrated global sources, according to a framework released Tuesday.
The plan was announced under the Quad Critical Minerals Initiative Framework, which aims to support secure, diversified and resilient supply chains for minerals considered essential to advanced technologies, economic growth and industrial resilience.
The initiative will focus on mining, processing and recycling critical minerals. The Quad countries said they will coordinate economic policy tools and investment frameworks to accelerate supply chain diversification.
The partners also plan to identify projects with a Quad connection, including projects located within member countries, operated by companies headquartered in Quad nations or supplying Quad markets. The goal is to address key gaps in the critical minerals supply chain.
To support strategic projects, the framework proposes using export credit agencies, development finance institutions and private capital, along with guarantees, loans, equity investments, insurance and offtake arrangements.
The Quad countries also plan to explore ways to unlock additional private investment and improve the overall environment for critical minerals development. That includes sharing best practices on permitting, licensing and regulatory processes.
The framework calls for cooperation on technology development, geological mapping, resource assessment and capacity building. The countries will also examine measures to address non-market practices and unfair trade distortions in the sector.
Recycling and recovery are major parts of the plan, particularly the recovery of critical minerals from e-waste and scrap materials. The framework says strengthening secondary supply chains will help improve resilience within Quad and partner countries.
The meeting was attended by External Affairs Minister S. Jaishankar, U.S. Secretary of State Marco Rubio, Australian Foreign Minister Penny Wong and Japanese Foreign Minister Toshimitsu Motegi. (Source: IANS)
