A new report from the International Energy Agency (IEA), published on Wednesday 21 May, highlights the “risk of painful disruptions” concerning critical raw materials, due to the increasing concentration of supply in a handful of countries and the extension of export restrictions.
Although political decision-makers, particularly in Europe, have become aware of the challenges of energy security by launching a wave of new policy initiatives on access to critical raw materials, the IEA notes vulnerabilities to come over the next decade.
Almost all the growth in the supply of copper, lithium, nickel, cobalt, graphite and rare earth elements comes from a single leading supplier: Indonesia for nickel, and China for all the other minerals.
According to the IEA, while demand is growing, progress towards greater diversification of supply chains is slow and the momentum of investment in key minerals has weakened: spending rose by only 5% in 2024, compared with a 14% rise in 2023. In addition, exploration activity plateaued in 2024.
To see the report: https://aeur.eu/f/gyf (Original version in French by Pauline Denys)