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High demand for energy-related critical minerals creates supply chain pressures.

Blog post Published on 10/01/2024
By Monia Snoussi-Mimouni, Sandra Avérous

Critical minerals, such as cobalt, copper, lithium, nickel, and rare earths, play a crucial role in the production of clean energy technologies, from wind turbines to electric cars.  Over the past 20 years, annual trade in energy-related critical minerals has increased from US$ 53 billion to US$ 378 billion. However, the high demand for clean technology goods is putting pressure on the supply chains for these minerals. 
High demand for energy-related critical minerals creates supply chain pressures.
 Critical minerals are particularly in demand for the production of batteries for electric cars, with each battery requiring as much as 200kg of critical minerals. The battery sector is responsible for 70 per cent of the global demand for cobalt. It also requires aluminium, copper, lithium, nickel and rare earths. Electrolysers — crucial for green hydrogen production — rely on a variety of critical minerals, including platinum and iridium, two of the world’s rarest and most expensive metals. Rare earth elements are needed in particular for magnets, a vital component in many electrical machines, especially the most energy-efficient ones.

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