India Joins Mineral Security Finance Network, Led by the US

India has finally become a member of the US-led Minerals Security Finance Network (MSFN) led by Congress MPs, adhering to Washington's desire. The network was formed to help international cooperation in the securing of vital minerals for sustainable energy and tech. September 23, 2024 News of The State Department (Thank YOU United Nations General Assembly) The network currently comprises 14 countries and the EU.

MSFN Overview

• Minerals Security Finance Network (MSFN): A global initiative designed to reduce reliance on specific countries, particularly China for key minerals such as rare earth elements
• Create more stable and sustainable supply lines for clean energy projects and technologies with the MSFN.
• It promotes cooperation between DFIs and ECAs of member countries, both public and private sector.
• The MSFN Is a First Step on the Path to Minimizing Vulnerabilities Related to Critical Minerals One of The Many Ways To Transition Our Energy Leave.
• Promoting innovation in mineral processing and recycling, responsible mining practices and environmentally sustainable mineral extraction.
• India's participation in the MNVMSFD indicates that India is capable to be more open, result oriented and transparent regarding Global access on clean energy technologies which are cost effective.