New Delhi, May 26 -- The United States, India, Japan and Australia launched a landmark critical minerals framework on Tuesday, committing up to USD 20 billion to secure the raw materials that power electric vehicles, semiconductors, and defence systems, in a direct challenge to China's dominance over global supply chains.
The Quad Critical Minerals Initiative, unveiled at the close of a high-stakes ministerial in New Delhi, sets out a sweeping three-pronged plan to mine, process, recycle, and finance the minerals that underpin modern economies - and which a single supplier has long used as strategic leverage.
The three pillars of the framework include a USD 20 billion Investment Drive that allows the four-nation grouping to mobilise up to...