Quad nations commit $20 billion for critical minerals supply chains

It aims to accelerate the development of diversified markets for minerals essential to advanced technologies and economic growth.

Who it concerns: The agreement involves India, Australia, Japan, and the United States. It affects the critical minerals sector, including mining, processing, recycling, and advanced technology industries, as well as government agencies (export credit agencies, development finance institutions) and private sector companies involved in supply chain projects.

What was agreed

• Mobilization of up to $20 billion in government and private sector support for critical minerals supply chains.
• Support for projects in mining, processing, and recycling through tools like guarantees, loans, equity, insurance, and subsidies.
• Cooperation on regulatory alignment, including sharing best practices for permitting and licensing.
• Development of tools to review transactions involving critical minerals that threaten national security.
• Collaboration on geological mapping, resource assessment, and technology development.
• Initiatives to improve recovery and recycling of critical minerals from e-waste and scrap materials.
• Exploration of streamlined export and import procedures for relevant waste and scrap among partners.

Also in the document

• A specific financial commitment of up to $20 billion is outlined for government and private sector support.
• The framework includes mechanisms to address non-market policies and unfair trade practices, such as high standards marketplaces and price mechanisms.
• There is a specific focus on recycling and recovery of critical minerals from e-waste and scrap materials within Quad partner countries.