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

Vlado Vivoda () and Ron Matthews ()
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Vlado Vivoda: Rabdan Academy
Ron Matthews: Rabdan Academy

Mineral Economics, 2024, vol. 37, issue 3, No 4, 463-476

Abstract: 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.

Keywords: Friend-shoring; Critical minerals; Supply chain; Minerals Security Partnership; Geopolitical alignment; ESG standards (search for similar items in EconPapers)
JEL-codes: L72 P18 Q37 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s13563-023-00402-1

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