A new International Energy Agency (IEA) report is warning of a potential supply deficit for some of the ‘critical minerals’ needed to support a global shift in the energy system that is aligned with the Paris Climate Agreement, as well as the growing number of country commitments to cutting carbon emissions to net-zero by 2050. Titled ‘The Role of Critical Minerals in Clean Energy Transitions’, the report outlines the metals- and minerals-intensity of technologies such as solar photovoltaic, wind and electric vehicles (EVs) when compared with their fossil fuel-based counterparts – a reality that is transforming the energy sector into a major force in mineral markets.
