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Sunday, June 1, 2025

https://youtu.be/j0vkZhNNjW8

Critical minerals like copper, lithium, nickel, cobalt, graphite, and rare earth elements are fundamental to modern technologies and crucial for the global shift towards clean energy. Demand for these key energy minerals is increasing significantly, largely driven by applications such as electric vehicles, battery storage, renewable energy systems, and grid networks. Reports indicate that mined copper output must nearly double by 2050 to meet baseline global development needs, and a study from the Society of Economic Geologists warns that copper prices may need to more than double to incentivize the necessary new mining. The rapid growth in EV battery production, for instance, has reshaped markets for minerals like lithium and graphite, with demand for graphite from lithium-ion batteries alone projected to triple by 2035 in one scenario. However, the supply of many critical minerals is geographically concentrated, with the top three producing countries often accounting for a large share of global production. China maintains dominance over the processing of many battery metals, producing the vast majority of LFP cathode material and anode material, and holds a significant share of global rare earth refining and magnet production. This concentration creates supply chain vulnerabilities and geopolitical risks. Efforts are underway to diversify supply chains outside of dominant regions, and technological innovations like the use of AI in exploration and new refining/recycling methods are gaining traction. Junior mining companies are also actively exploring and developing new resources to meet future demand. P. Geo. Ricardo A Valls, M. Sc. and Geo Gadfly Valls Geoconsultant ORCID ID- https://orcid.org/0000-0002-5421-0914 Scopus Author ID: 7003369619/35335510700 ResearcherID: S-6604-2018 If you like this content, please "buy me a coffee" https://www.buymeacoffee.com/goldendroplets

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