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“Friend-shoring” as a panacea to Western critical mineral supply chain vulnerabilities

Author

Listed:
  • Vlado Vivoda

    (Rabdan Academy)

  • Ron Matthews

    (Rabdan Academy)

Abstract

This study elucidates the emerging concept of “friend-shoring,” a strategy anchored in fortifying supply chains through political and strategic alignment. Central to our investigation is the Minerals Security Partnership (MSP), representing the first strategic application of the friend-shoring principle. The MSP unites nations committed to forging sustainable and ethical supply chains for critical minerals. While the primary objective of friend-shoring is to alleviate vulnerabilities in Western critical mineral supply chains, its broader implications encompass economic, geopolitical, environmental, and nationalistic objectives. The paper critically evaluates the advantages and potential pitfalls of friend-shoring, emphasizing the need to balance economic feasibility with adherence to robust environmental, social, and governance (ESG) standards. In the backdrop of China’s significant role, yet nuanced position in the critical mineral supply chain, the study offers insights into how the MSP can enhance the supply chain’s effectiveness. The paper culminates by spotlighting areas for future research, advocating a collaborative and interdisciplinary approach to address the multifaceted challenges tied to the security of critical mineral supply.

Suggested Citation

  • Vlado Vivoda & Ron Matthews, 2024. "“Friend-shoring” as a panacea to Western critical mineral supply chain vulnerabilities," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 37(3), pages 463-476, September.
    • Handle: RePEc:spr:minecn:v:37:y:2024:i:3:d:10.1007_s13563-023-00402-1
    DOI: 10.1007/s13563-023-00402-1
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    References listed on IDEAS

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    1. Éléonore Lèbre & Martin Stringer & Kamila Svobodova & John R. Owen & Deanna Kemp & Claire Côte & Andrea Arratia-Solar & Rick K. Valenta, 2020. "The social and environmental complexities of extracting energy transition metals," Nature Communications, Nature, vol. 11(1), pages 1-8, December.
    2. Pamela Lesser, 2021. "The road to societal trust: implementation of Towards Sustainable Mining in Finland and Spain," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 34(2), pages 175-186, July.
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    More about this item

    Keywords

    Friend-shoring; Critical minerals; Supply chain; Minerals Security Partnership; Geopolitical alignment; ESG standards;
    All these keywords.

    JEL classification:

    • P18 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Energy; Environment
    • L72 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Other Nonrenewable Resources
    • Q37 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Issues in International Trade

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