Lithium evaporation pools in Argentina. Credit: Freedom_wanted/Shutterstock.
The IEA’s newly released Recycling of Critical Minerals: strategies to scale up recycling and urban mining report, has found that a surge in new policies and facilities to support the recycling of critical minerals “could significantly reduce potential strains on supply as countries pursue energy transitions.”
Of the accelerated demand for critical minerals, GlobalData’s report notes that there is a strain being put on existing mines, while new mines can take over ten years to develop and bring online. As such, it suggests there is the potential for a slowdown in the production of green technologies in the coming years, which in turn would likely delay emissions objectives. It adds: “Expanding adjacent industries, such as semiconductors, requires much of the same mineral resources, thus adding to global demands.”
As the report also outlines, many critical minerals are found in large concentrations within specific regions. “The uneven distribution of mineral resources has led to volatile market dynamics, which are vulnerable to sudden changes in export quotas and production volumes within these regions,” it says.
China, in particular, dominates the mineral processing sector, accounting for >90% of REEs, >70% of cobalt, ~65% of lithium, ~45% of copper and >25% of nickel. Such dominance becomes a geopolitical issue, with countries able to assert power over those dependent on their resources.
Of the accelerated demand for critical minerals, GlobalData’s report notes that there is a strain being put on existing mines, while new mines can take over ten years to develop and bring online. As such, it suggests there is the potential for a slowdown in the production of green technologies in the coming years, which in turn would likely delay emissions objectives. It adds: “Expanding adjacent industries, such as semiconductors, requires much of the same mineral resources, thus adding to global demands.”
As the report also outlines, many critical minerals are found in large concentrations within specific regions. “The uneven distribution of mineral resources has led to volatile market dynamics, which are vulnerable to sudden changes in export quotas and production volumes within these regions,” it says.
China, in particular, dominates the mineral processing sector, accounting for >90% of REEs, >70% of cobalt, ~65% of lithium, ~45% of copper and >25% of nickel. Such dominance becomes a geopolitical issue, with countries able to assert power over those dependent on their resources.
In relation to China specifically, the report says: “With enviable foresight, China acquired or secured long-term contracts with numerous mines worldwide. This has contributed positively to the vertical integration and development of China’s EV and energy transition industries. To curb China’s technological expansion, the US has imposed numerous well-publicised sanctions on China over the years, resulting in substantial disruption along the supply chain.” More of this article (Energy Monitor) - link - more like this (minerals) - link - more like this (China) - link
No comments:
Post a Comment