Very informative. Almost too much to keep up with. (a lot of authentic facts)
The sales of electric cars are booming, but the rising demand for transition minerals will pose a challenge for the mining industry.
Another challenge for the future supply chain is that unlike some fossil fuels, many of the minerals essential for EVs are produced in just a handful of countries. Over half of the supply of minerals needed for EV batteries comes from the top three producing countries.
In 2020, Australia was responsible for 48% of global lithium production. For graphite, China is the world’s main supplier, with nearly 79% of global production originating from the country. In the same year, the Democratic Republic of the Congo (DRC) supplied 69% of global cobalt.
With regards to rare earth metals, China has most of them!
Note the amount of reserves below:
World Mine Production and Reserves
|World total (rounded)||240,000|
China Dominates the Rare Earths Supply Chain
Fossil fuels are their own batteries. The energy is stored in them.