Business Daily Critical minerals: The global race is on
May 25, 2025
Explore the essential role of critical minerals like lithium and cobalt in modern technology and the green transition. With global demand soaring, countries are racing to secure supplies, creating rising geopolitical tensions. Delve into the U.S.-Ukraine partnership aimed at economic stability through natural resources. Discover how export restrictions from China pose risks to supply chains, prompting nations to diversify their resources. This fascinating discussion highlights the urgent need for enhanced production capabilities in a fast-evolving industry.
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Critical Minerals Power Modern Tech
- Wind turbines and EV batteries rely on critical minerals like lithium, cobalt, nickel, and rare earth elements.
- These 50+ minerals are essential yet vulnerable due to limited reserves, geopolitical tensions, or lack of alternatives.
Extraction Challenges and Concentrated Supply
- Rare earths are not particularly rare but are difficult to extract and refine.
- Key minerals like cobalt and lithium have geographically concentrated production, raising supply concerns.
Volatile, Opaque Mineral Markets
- Markets for critical minerals lack transparency due to absence of exchanges and futures.
- Recent lithium price spikes overestimated demand growth, causing volatile market corrections.