mining and processing capacity
Signed mineral cooperation agreements with Australia , Japan , and Malaysia
Planned further partnerships to be announced at an upcoming global mineral security summit in Washington
The initiative highlights the growing geopolitical importance of resource security in an era of technological competition and strategic rivalry.
Exam-Focused Key Points
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Critical minerals include cobalt, lithium, gallium, and rare earth elements
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China dominates global processing of several critical minerals
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Project Vault is partly modelled on the US Strategic Petroleum Reserve
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Mineral security is vital for defence, clean energy, and high-tech industries
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Total project size: USD 12 billion (≈ Rs1 lakh crore)
Month: Current Affairs - February 06, 2026
Category: Economy & Strategic Resources