The increase in demand for renewable energy technology in the framework of the fight against climate change accelerates investments in critical minerals, forming the future of this industry.
Against the background of increasing geopolitical competition, critical minerals become a strategic priority for countries seeking to strengthen their positions in the field of “green” energy.
The list of critical minerals in different countries varies depending on their value for modern technology, economics and national security.
lithium, nickel, cobalt, graphite, copper and rare earth elements are especially important for the production of electric vehicles, batteries, renewable energy sources and energy storage systems.
The demand for raw materials will grow 3 times
According to the data collected by Anadol, based on the report of the International Energy Agency, the Global Review of Critical Minerals, it is expected that the demand for critical minerals and rare earth elements will grow by 3 times by 2040, reaching 35 million tons per year.
It is reported that investments, which in 2023 amounted to about $ 45 billion, had reached $ 800 billion by 2040.
Among critical minerals, the largest investment is in copper – about $ 490 billion until 2040.
It is followed by nickel ($ 160 billion) and lithium ($ 80 billion).
Increasing demand enhances the position of producing countries and encourages the importing countries to develop their own production and processing.
Middleical processing increases their cost
Against the background of efforts to achieve the global goals of the country, they are increasingly implementing projects of pure energy.
In order for mineral fossils to be suitable for use, they must be processed and refined.
According to the report, in 2023, 28 million 85 thousand tons of raw materials were obtained in the world.
At the same time, after processing 32 million 645 thousand tons of ore, they received a higher market value.
By 2040, the world processing power of minerals, as expected, will grow by 32% – up to 43 million 77 thousand tons.
The largest increase in capacities is predicted in the processing of graphite – by 267.2%, it is followed by lithium (by 110%) and rare -earth elements (by 44.7%).
By 2040, the processing power according to the graphite will reach 7 million 481 thousand tons, in lithium – 370 thousand tons, according to rare -earth elements – 110 thousand tons.
By 2040, the share of renewable energy in the global demand for lithium, nickel, cobalt, graphite and copper will be 55.2%.
In the structure of demand for rare -earth elements, pure energy will take 41%.