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U.S. announces partnership with Canada and other countries to secure critical minerals

U.S. Department of State announced Tuesday that the United States and its key partner countries have established the Minerals Security Partnership (MSP), a new initiative to secure the supply of critical minerals such as nickel, lithium and cobalt, the demand for which is projected to expand significantly in the coming decades owing to the booming EV battery and solar industries.

U.S. Department of State said in a statement that the MSP aims to help "catalyze investment from governments and the private sector for strategic opportunities that adhere to the highest environmental, social, and governance standards".

MSP partners include Australia, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, the United Kingdom, the United States, and the European Commission, according to the statement.