In the next couple of weeks, Italy and the United States will tackle critical mineral supply chains, the focus of the newly-launched Minerals Security Partnership (MSP), an ambitious initiative announced earlier this month by the United States and other like-minded partners to bolster cooperation in the sector and reduce their dependence from China.
Critical for green-tech growth. Given the key role of nonferrous metallic minerals and raw materials for clean energy and technology transition, the goals of MPS is to ensure that critical minerals are produced, processed, and recycled in a manner that supports the ability of countries to realize the full economic development benefit of their geological endowments.
- Demand for critical minerals is projected to expand significantly in the coming decades.
- The new initiative aims to catalyze investment from governments and the private sector for strategic opportunities—across the full value chain—that adhere to the highest environmental, social, and governance standards.
Key partners. In addition to the US, MSP has already attracted key partners, including Australia, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, the United Kingdom, and the European Commission.
- Partners have committed to building robust, responsible critical mineral supply chains to support economic prosperity and climate objectives.
Italy’s interest. MPS was presented in mid-June in Toronto during the Prospectors and Developers Association of Canada convention, one of the most important events in the critical mineral sector, seen by Italian diplomatic circles a so-called “ballon d’essai” for G7 and other like minded nations to put forward ideas and experimental initiatives.