The Intensifying Race for Critical Minerals Ahead of 2025

The critical minerals competition will escalate in 2025 as Europe and North America aim to reduce reliance on Chinese supply chains. Countries rich in vital resources are facing increased mining activities, raising environmental and social concerns. The International Energy Agency predicts demand for ‘net zero’ minerals will nearly triple by 2030, drawing attention to essential nations for resource monitoring.

The competition for critical minerals essential for renewable technologies is anticipated to escalate significantly by 2025, as European and North American governments seek to diminish their dependence on China. The International Energy Agency forecasts that demand for minerals necessary for achieving ‘net zero’ targets will nearly triple by 2030, spurring increased mining activities in resource-rich nations, particularly for lithium, cobalt, and nickel. As this demand surges, concerns regarding environmental and social impacts on local communities become increasingly pronounced. During the COP29 climate conference, U.N. Secretary-General António Guterres cautioned against the potential for a “stampede of greed” that could adversely affect vulnerable populations globally. Key countries to monitor include the Democratic Republic of Congo, Chile, Brazil, and the Philippines, each facing distinct challenges amid the global green rush.

The global scramble for minerals crucial to the energy transition, particularly lithium, cobalt, and nickel, is intensifying. Major mining operations are concentrated in countries like the Democratic Republic of Congo, Chile, Brazil, and the Philippines, which are rich in these resources. However, these countries grapple with varying degrees of exploitation, conflict, and environmental consequences due to increased mining activities. Sustainable practices and the protection of local communities are paramount as global demand for these minerals continues to rise.

The race for critical minerals is set to heighten by 2025, emphasizing the urgent need for careful management of environmental and social impacts in resource-rich countries. Nations like the Democratic Republic of Congo and Chile are at the forefront of this contest, with their mineral wealth contributing to international markets. As governments navigate the complexities of resource extraction, it is crucial that they prioritize sustainability and the rights of local communities to avert a detrimental repeat of historical exploitation.

Original Source: www.context.news