A recent International Energy Agency report estimates that if the world wishes to attain net-zero emissions goals by 2050, overall demand for critical minerals will increase by a factor of 4. Demand for certain minerals like lithium is estimated to increase by a factor of 16.
Energy transition technologies—including solar photovoltaics, wind turbines, electric vehicles, and battery storage —are dependent on critical minerals, and most reserves lie in developing and emerging economies.
Building critical minerals value chains in Global South countries will allow them to maximize the benefits of their abundant reserves as well as secure their energy transitions. Beyond mining these minerals, countries can be home to processing and manufacturing industries that create jobs, boost GDP and build resilient communities.
The Council for Critical Minerals Development in the Global South aims to deliver tailored data and analytics and facilitate south-south and international collaboration to support emerging economies build secure mineral supply chains that anchor domestic industrialization and development goals
[1] Reserves for developing countries is based on a 2017 World Bank study, and includes low- and middle-income countries only
[2] Assuming Platinum Group Metals reserves share for developing countries as Platinum only not available
[3] Including for the production and processing capacities only Neodymium and Dysprosium with a 20/80 ratio
