A robust global mining industry is essential for a growing green economy. Some facts to bear in mind: a solar panel requires aluminum, steel, copper, zinc, and silver. A wind turbine: steel, copper, and aluminum. An EV battery: lithium, gold, silver, cobalt, manganese, aluminum, nickel, and copper. These raw materials are now commonly known as the critical metals. As per the World Bank, these could experience a fivefold increase in demand by 2050, driven by the growing requirements of clean energy technologies. The supply shock has already prompted new political legislation in the U.S., Canada and Europe, and the security of domestic supply will be a major talking point in the 2024 presidential election. In this context, considering recent geopolitical events such as the war in the Ukraine and the deteriorating relationship between the West and China, security of supply is a central concern of the West.
To meet the needs of the modern world, an estimated $1.7 trillion in global mining investment is anticipated. This upheaval in demand has consequenced a radical shift in the industry: not simply to ramp up extraction, but also to enhance the processes which make the industry more sustainable. In this report, we present the essential facts and figures of this New Era of Mining, and set out the main political and structural challenges ahead. The insights showcased here are based on over 100 in-depth interviews with the mining CEOs leading the industry forward today.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
