Abstract:

Critical minerals, which are essential for a range of clean energy technologies, have risen up the policy agenda in recent years due to increasing demand, volatile price movements, supply chain bottlenecks and geopolitical concerns. The dynamic nature of the market necessitates greater transparency and reliable information to facilitate informed decision-making, as underscored by the request from Group of Seven (G7) ministers for the IEA to produce mediumand long-term outlooks for critical minerals. 

The report provides a snapshot of industry developments in 2023 and early 2024 and offers medium- and longterm outlooks for the demand and supply of key energy transition minerals based on the latest technology and policy trends. It also assesses key risks to the reliability, sustainability and diversity of critical mineral supply chains and analyses the consequences for policy and industry stakeholders.