New Delhi, July 16 -- The global race to secure critical minerals is reshaping supply chains and creating a rare opportunity for resource-rich emerging markets to move beyond raw material exports into higher-value processing and refining, according to Moody's report.

The report said the energy transition, rapid growth in electric vehicles, renewable energy, artificial intelligence infrastructure and advanced manufacturing are driving sustained demand for critical minerals, making them central to economic security and industrial policy.

As countries seek to diversify supply chains and reduce dependence on a handful of suppliers, emerging markets with abundant mineral reserves stand to benefit if they can develop downstream industries.

H...