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Rare earths and critical minerals
What is the outlook for demand?
Across a range of mining sector analysts there is agreement that a global boom in demand for critical minerals has been taking shape in recent years. Lithium demand, based on the high-powered batteries that are needed by the world’s growing fleet of electronic vehicles (EVs), is expected to surge by 400%-500% over the next ten years. Copper use in renewable energy could jump by 300%. Achieving the UN’s global carbon net zero target by 2050 could require a six-fold increase in critical mineral inputs by 2040. The underlying economic model suggests that every US$1bn invested in upstream mining generates US$3bn-$4bn in downstream manufacturing.
- Rare earths and critical minerals - what are they?
- Where are they?
- What is the outlook for demand?
- The US-China stand off
- Washington plays catch up
- The European perspective
- Brazil leads the charge
- USA Rare Earth makes its move in Brazil
- Concern over REE preferential access
- Argentina: the lithium RIGI story
- New Chilean government eyes value added
- Peru seen as player with “high geological potential”
- 2023 mining law holds Mexico back
- Bolivia moves away from state-led industrialisation
- Corporate moves in critical minerals and REEs
- Rare earths and the environment
- Conclusion – the coming boom