The United States, Japan, India, and Australia announced the Quad Critical Minerals Initiative to secure and diversify supply chains for critical minerals. This initiative responds to concerns about China's dominance in essential resources for new technologies. The Quad countries aim to reduce reliance on China, which holds significant reserves of critical minerals like graphite, vital for electric vehicles. The joint statement emphasized the risks associated with dependence on any single country, highlighting concerns over supply chain vulnerabilities and economic coercion, alongside regional stability threats linked to China's actions in the South and East China Seas.
The four countries said in a joint statement that they were establishing the Quad Critical Minerals Initiative, aimed at collaborating on securing and diversifying supply chains.
Reliance on any one country for processing and refining critical minerals and derivative goods production exposes our industries to economic coercion, price manipulation and supply chain disruptions.
China holds major reserves of several key minerals including the vast majority of the world's graphite, which is crucial for electric vehicles.
Rubio said he has personally been very focused on diversifying supply chains and wanted real progress in ensuring a stable supply of critical minerals.
Collection
[
|
...
]