Note: Single-source report; awaiting corroboration.
Critical minerals such as lithium, cobalt, nickel, copper, and graphite are essential for modern clean energy technologies, including EV batteries, wind turbines, solar panels, electricity grids, and electronics. These resources are indispensable to the global shift from fossil fuels.
The demand for these minerals is accelerating as countries expand renewable energy and battery technologies. For example, electric vehicles require about six times more mineral inputs than conventional cars, and offshore wind facilities need nearly thirteen times more mineral resources than gas-fired power plants. Overall, demand for many critical minerals could triple by 2030, with some analysts comparing their strategic importance to that of oil in the twentieth century.
Large deposits of critical minerals are found in Africa, Latin America, and parts of Asia, presenting economic opportunities such as job creation, economic diversification, and increased public revenue. However, these benefits depend on effective management and governance to prevent these resources from contributing to conflict, corruption, environmental harm, and human rights abuses.
Mining these minerals involves environmental risks, including deforestation, water pollution, biodiversity loss, soil degradation, and greenhouse gas emissions. Many deposits are located near indigenous communities and environmentally sensitive areas, emphasizing the need for responsible mining practices.
The UN Security Council stresses that mineral wealth should support peace and sustainable development, not violence, highlighting governance as a crucial factor in ensuring these resources benefit local communities.