| High demand for energy-related critical minerals creates supply chain pressures
January 10, 2024--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. |
| 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. |
| IMF World Economic Outlook -Global Economy in Flux, Prospects Remain Dim October 2025
October 14, 2025-- While the near-term forecast is revised up modestly, global growth remains subdued, as the newly introduced policies slowly come into focus |