4 XXXI International Mineral Processing Congress 2024 Proceedings/Washington, DC/Sep 29–Oct 3
demand of critical minerals is very much defined by the
commitment to achieving net-zero emissions and can only
change significantly with technological innovation and
substitution changing the portfolio of metals required to
do that. Overall consumption is also a variable of demand
but achieving decarbonisation and the United Nations
Sustainable Develop Goal of global access to clean energy is
the main driver of consumption.
The supply of critical minerals is constrained by mul-
tiple factors. Very simplified, one can argue that supply risk
rarely, if ever, is caused by geological availability (globally),
but is mostly influenced by global markets, investments,
From IEA 2024
Figure 2. Mineral requirement projections by technology and by mineral in each of the three IEA scenarios, STEPS, APS and
NZE
From IEA 2024
Figure 3. Mineral supply projections for announced projects and selected minerals in the IEA APS and NZE scenario
demand of critical minerals is very much defined by the
commitment to achieving net-zero emissions and can only
change significantly with technological innovation and
substitution changing the portfolio of metals required to
do that. Overall consumption is also a variable of demand
but achieving decarbonisation and the United Nations
Sustainable Develop Goal of global access to clean energy is
the main driver of consumption.
The supply of critical minerals is constrained by mul-
tiple factors. Very simplified, one can argue that supply risk
rarely, if ever, is caused by geological availability (globally),
but is mostly influenced by global markets, investments,
From IEA 2024
Figure 2. Mineral requirement projections by technology and by mineral in each of the three IEA scenarios, STEPS, APS and
NZE
From IEA 2024
Figure 3. Mineral supply projections for announced projects and selected minerals in the IEA APS and NZE scenario