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India is now formally a part of the Minerals Security Finance Network, a US-led initiative aiming to strengthen cooperation among members to secure supply chains for critical minerals.

The Minerals Security Finance Network (MSFN) is a new initiative that stems from the Minerals Security Partnership (MSP), a framework established by the US in 2022. India was inducted to the MSP in June 2023.

About Minerals Security Partnership (MSP)

1. It is a collaboration between 14 countries and the European Union aimed at catalyzing public and private investment in responsible critical mineral supply chains.
2. India’s Membership: India joined MSP in 2023.
3. Focus Areas: The MSP concentrates on minerals essential for clean energy technologies, such as- Lithium, cobalt, nickel, manganese, graphite, rare earth elements, and copper.

What is the difference between the two?

The Minerals Security Partnership (MSP) and the Minerals Security Finance Network (MSFN) are both related to securing critical mineral supply chains, but they have distinct roles and focuses. Here's the difference between the two:

MSP focuses on strategic collaboration among governments and private sector stakeholders to diversify and strengthen mineral supply chains.

MSFN is a finance-related initiative designed to support the goals of the MSP. It aims to mobilize public and private financial resources to ensure investments in critical mineral projects, including mining, processing, and refining, are secure and sustainable.

In short, MSP is about partnerships and collaboration on mineral security, while MSFN is about financing the projects needed to achieve that security.

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