A new report from World Bank reveals significant predictions for the European mineral raw materials industry. The report projects considerable increases in the production of minerals needed for clean energy technologies. Projected increases for minerals such as graphite, lithium and cobalt are as high as 500% by 2050. It also explains the massive needs of a wide range of minerals and metals for implementing renewable energy strategies, including an explanation about why even dramatically increased recycling and reuse rates will not sufficiently meet demand.
The more ambitious climate targets,
the more minerals needed for a clean energy transition
The report reveals that some minerals, like copper and molybdenum, will be used in a range of technologies, while others, such as graphite and lithium, may be needed for just one technology: battery storage. This means that any changes in clean energy technology deployments could have significant consequences on demand for certain minerals.
You can read the full report here.