The energy transition will require a 400% increase in demand for critical minerals to meet green energy demands, with the vast majority of that demand coming from clean energy applications like electric vehicles and stationary energy storage using batteries. This has set in motion a “New Great Game” to secure critical minerals for the energy transition.
At the moment China is leading the game, while Europe is a relative latecomer. Yet no one nation will be able to build a supply chain on its own. In the case of Europe, this requires considering multiple options. This includes domestic mining and processing of critical minerals – which could have domestic political consequences, and securing access to critical minerals abroad – which requires forging ties with resource rich nations.
In short, this paper by Guest Author Jeff Amrish Ritoe details the steps Europe needs to take to secure an undisrupted supply of the raw materials that are needed to produce clean energy applications and the geo-economic and geopolitical complications that arise from this “New Great Game.”
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