SYDNEY — The 14-nation Mineral Security Partnership, championed by the United States and the European Union, launched a “financial network” at an event in New York on Monday as part of China's efforts to cut off supplies of critical minerals.
The Mineral Security Partnership Financial Network aims to address the lack of investment outside of China that is hampering the development of supply chains for key strategic materials such as lithium, nickel and rare earths. Minerals are widely used in modern manufacturing and are essential to the energy transition due to their use in technology such as electric vehicles and wind turbines.