Minerals for energy -
As countries accelerate their efforts to reduce emissions, they also need to make sure that energy systems remain resilient and secure. Minerals offer a different and distinct set of challenges, but their rising importance in a decarbonising energy system requires energy policy makers to expand their horizons and consider potential new vulnerabilities.
Concerns about price volatility and security of supply do not disappear in an electrified, renewables-rich energy system.
This is why the IEA is paying close attention to the issue of critical minerals and their role in energy transitions. Our bottom-up assessment of energy policies in place or announced suggests that the world is currently on track for a doubling of overall mineral requirements for clean energy technologies by in the IEA Stated Policies Scenario, STEPS.
An even faster transition, to hit net-zero globally by , would require six times more mineral inputs in than today. Which sectors do these increases come from?
In climate-driven scenarios, mineral demand for use in EVs and battery storage is a major force, growing at least thirty times to Lithium sees the fastest growth, with demand growing by over 40 times in the SDS by , followed by graphite, cobalt and nickel around times.
The expansion of electricity networks means that copper demand for grid lines more than doubles over the same period. The rise of low-carbon power generation to meet climate goals also means a tripling of mineral demand from this sector by Wind takes the lead, bolstered by material-intensive offshore wind.
Solar PV follows closely, due to the sheer volume of capacity that is added. Hydropower, biomass and nuclear make only minor contributions given their comparatively low mineral requirements.
In other sectors, the rapid growth of hydrogen as an energy carrier underpins major growth in demand for nickel and zirconium for electrolysers, and for platinum-group metals for fuel cells. Demand trajectories are subject to large technology and policy uncertainties.
We analysed 11 alternative cases to understand the impacts. Likewise rare earth elements may see three to seven times higher demand in than today, depending on the choice of wind turbines and the strength of policy support.
The largest source of demand variance comes from uncertainty around the stringency of climate policies. The big question for suppliers is whether the world is really heading for a scenario consistent with the Paris Agreement.
Policy makers have a crucial role in narrowing this uncertainty by making clear their ambitions, and turning targets into actions.
This will be vital to reduce investment risks and ensure adequate flow of capital to new projects. Clean energy transitions offer opportunities and challenges for companies that produce minerals.
Coal is currently the largest source of revenue for mining companies by a wide margin. However, accelerating clean energy transitions are set to change this picture. There is a rapid reversal of fortunes in a climate-driven scenario, as the combined revenues from energy transition minerals overtake those from coal well before The prospect of a rapid rise in demand for critical minerals — in most cases well above anything seen previously — poses huge questions about the availability and reliability of supply.
In the past, strains on the supply-demand balance for different minerals have prompted additional investment as well as measures to moderate or substitute demand, but these responses have come with time lags and have been accompanied by considerable price volatility.
Similar episodes in the future could delay clean energy transitions and push up their cost. Given the urgency of reducing emissions, this is a possibility that the world can ill afford. Raw materials are a significant element in the cost structure of many technologies required in energy transitions.
If both lithium and nickel prices were to double at the same time, this would offset all the anticipated unit cost reductions associated with a doubling of battery production capacity. Our analysis of the near-term outlook for supply presents a mixed picture.
Some minerals such as lithium raw material and cobalt are expected to be in surplus in the near term, while lithium chemical, battery-grade nickel and key rare earth elements e. neodymium, dysprosium might face tight supply in the years ahead. They are not ready to support accelerated energy transitions.
While there are a host of projects at varying stages of development, there are many vulnerabilities that may increase the possibility of market tightness and greater price volatility:. These risks to the reliability, affordability and sustainability of mineral supply are manageable, but they are real.
How policy makers and companies respond will determine whether critical minerals are a vital enabler for clean energy transitions, or a bottleneck in the process. As energy transitions gather pace, security of mineral supply is gaining prominence in the energy security debate, a realm where oil has traditionally occupied a central role.
There are significant differences between oil security and mineral security, notably in the impacts that any disruption may have. In the event of an oil supply crisis, all consumers driving gasoline cars or diesel trucks are affected by higher prices. By contrast, a shortage or spike in the price of a mineral affects only the supply of new EVs or solar plants.
Consumers driving existing EVs or using solar-powered electricity are not affected. In the transition to renewable energy and electrified transportation, Li-ion batteries will be essential for storing variable renewable energy and enabling the widespread adoption of EVs.
According to the US Geological Survey USGS , Australia and Chile boast the largest reserves of lithium available in mines around the world today. Argentina 2. These include a vast 21 million tonnes in Boliva, 20 million tonnes in Argentina and 11 million tonnes in Chile. Cobalt : Cobalt is another key ingredient in Li-ion batteries, supporting their stability and performance by preventing overheating and extending their lifespans.
The cobalt supply chain, however, is riddled with ethical and environmental issues such as the widespread use of modern slavery and child labour in the artisanal mines of sub-Saharan African countries. Efforts are under way to find more sustainable materials to replace the cobalt in batteries, but for the time being the mineral will remain fundamental to the growth of EVs and battery energy storage systems around the world.
The Democratic Republic of Congo DRC is by far the largest global supplier of cobalt, possessing almost half of all cobalt reserves in global mines today.
This curse refers to a phenomenon where countries rich in natural resources, particularly minerals and commodities like oil, often experience economic and political challenges — typically caused by geo-economic exploitation by richer nations — that can hinder their development and overall well-being.
Just ask Venezuelans how flush they currently feel from their vast oil reserves. More than million tonnes of cobalt resources have been identified in polymetallic nodules and crusts on the floor of the Atlantic, Indian and Pacific Oceans.
These resources, among others, have sparked a global race to develop deep-sea mining operations that threaten to cause massive disruption to marine ecosystems if pursued recklessly.
Copper : Another indispensable mineral for the energy transition is copper. Copper is a vital component for modern electrical systems; used in power generation, transmission and distribution infrastructure, as well as in renewables technologies such as solar panels and wind turbines.
As these technologies proliferate and grids expand, demand for copper to ensure efficient electricity transfer and storage will continue to rise. Australia 97 million tonnes , Peru 81 million tonnes , Russia 62 million tonnes and Mexico 53 million tonnes also have significant reserves of their own.
There is currently a global shortage in copper markets that could last until , fuelled by increasingly challenged South American supply streams and higher demand pressures. Despite the current deficit, a USGS study of global copper deposits revealed there were identified resources totalling 2.
Copper is also one of the world's most recyclable metals. Nickel is another key ingredient in Li-ion batteries, particularly in advanced cathode chemistries.
High-nickel cathodes support a higher energy density and enhanced battery performance, improving the range and functionality of EVs and the efficacy of battery energy storage systems. Brazil 16 million tonnes , Russia 7. However, Indonesia has upped its own production , easing some of the pressure on prices.
There are around million tonnes of identified land-based nickel resources around the world today. However, extensive nickel resources have also been found in manganese crusts and nodules on the ocean floor. Finally, a special mention must go to the wide array of rare earth elements REEs , spanning esoteric metals such as neodymium and dysprosium, that are also vital for manufacture of the high-performance magnets used in EV motors and wind turbines.
Foods that contain vitamin E include almonds, hazelnuts, sunflower seeds, avocados, and spinach. Vitamin B3 is a water-soluble vitamin that helps your body use carbohydrates and proteins for energy, making it one of the best vitamins for energy and tiredness.
It helps regulate blood pressure, which can help relieve symptoms such as panic, low mood, and tension—associated with poor mental health. Vitamin B3 also plays an important role in the functioning of your nervous system, liver, kidneys and digestive system.
Foods that contain vitamin B3 include clams, salmon, tuna, chicken, brown rice, legumes, and bananas. Magnesium is a mineral that your body needs to produce energy and build strong bones—it supports the functioning of your nervous system by helping transit nerve impulses throughout your body.
Magnesium also improves sleep quality , and everyone knows a good night's sleep can have you feeling full of beans. Foods that contain magnesium include spinach, almonds, and whole grains like brown rice and quinoa.
Zinc is a mineral that your body needs to heal wounds and build strong tissue—it supports the functioning of your immune system by helping your body fight off bacteria and viruses. Zinc also plays an important role in regulating your metabolism, and due to the brain-gut axis , a happy gut equals a happy brain.
Foods that contain zinc include fish like salmon or tuna, legumes such as black beans or chickpeas, and nuts such as almonds. Iron is a mineral that helps your body produce red blood cells, which are responsible for carrying oxygen around your body.
Iron is also very important for brain health, as it helps support cognitive function and memory. You may be thinking that this all sounds jolly complicated when it comes to cooking and eating well, and you're not wrong. It can be difficult to ensure your brain is getting all the right ingredients, every single day.
That's where you need to make sure you're getting in the right vitamins and minerals—so you can be at your best.
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Please send comments, Breakfast skipping and mental health, or suggestions for Minerala Snapshot topics to snapshots enetgy. Critical minerals are minerals that are Miberals to Breakfast skipping and mental health technologies, including renewable electricity, batteries, electronics, and electric vehicles. The list of critical minerals varies by country. Footnote 2 The list is used to develop policy and prioritize mining-related investments. Source: Natural Resources Canada. Description: List of 31 critical minerals depicted in the shape of a maple leaf. Preventing bone injuries your Brain Health Score in 4 mins Take Breakfast skipping and mental health Mineals. Feeling sluggish, or falling asleep at your ejergy Minerals Monerals vitamins are a solid way to restore your energy supplies. Energy balance and aging you're feeling constantly tired, Breakfast skipping and mental health, lacking in Vegan antioxidant-rich foods, your diet could be the culprit. However, ejergy if you're eating a healthy diet, you can still feel sluggish, which suggests that your body is lacking some key minerals and vitamins for energy. If you don't provide your body with enough of the minerals and vitamins it needs, it will have to burn its own stores in order to make up for the lack of vitamin levels, which can leave you feeling tired and sluggish. The best way to boost your energy levels is by eating vitamin and mineral-rich foods, drinking plenty of water, and avoiding quick fixes such as coffee and energy drinks.
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