NEWS – The Quad (India, US, Australia, Japan) launched the Quad Critical Minerals Initiative to counter China’s dominance in critical minerals.

HIGHLIGHTS

• Critical minerals like rare earth elements are essential for semiconductors, EVs, electronics, and defence equipment.
• The Quad aims to secure and diversify global supply chains, citing concerns over overdependence on China.
• China dominates processing and refining of rare earths (e.g., neodymium magnets), impacting global industries.
• India’s EV sector is hit by China’s restrictions on rare earth magnet exports.
• China is pushing foreign firms to buy entire motor assemblies instead of magnets.
• Japan has restarted parts of its mineral processing sector; US and India still heavily reliant on China.
• The initiative aligns with the G7’s Critical Minerals Action Plan and RISE funding effort.
• India’s National Critical Minerals Mission (₹16,300 crore) seeks foreign support through RISE.
• India-US signed the TRUST initiative to jointly develop extraction technologies.
• Trump administration is prioritizing critical minerals despite rollback in green energy focus.