The Growing Demand for Critical Minerals and Its Impact on the Global Economy

The Race for Critical Minerals: A Shifting Global Landscape

The demand for metals and minerals crucial for the ongoing energy transition is reshaping global supply chains, prompting strategic moves from companies and legislators.

The Surging Demand for Critical Minerals

• Lithium, nickel, cobalt, and copper are at the forefront of the growing demand, especially for energy technologies.
• Projections indicate a significant supply-demand gap by 2050, necessitating new resource exploration and investments.

Challenges and Implications

1. The concentration of critical minerals in specific countries escalates pressure on supply chains and trade relationships.
2. China dominates mineral refining capacity, posing risks to global supply security.

The article highlights the urgency for nations to diversify supply chains and ensure sustainable access to critical minerals for the future.