Global battery and minerals supply chains need to expand ten-fold to meet projected critical minerals needs by 2030, a report published by the International Energy Agency (IEA) has found.
The report concludes the industry needs to build 50 more lithium mines, 60 more nickel mines and 17 more cobalt mines by 2030 to meet global net carbon emissions goals.
Pressure on the supply of critical materials will continue to mount as road transport electrification expands to meet net-zero ambitions. According to the IEA, demand for electric vehicle (EV) batteries will increase from around 340 GWh today to over 3500 GWh by 2030…
The IEA suggests innovative new extraction and processing technologies such as direct lithium extraction (DLE), high-pressure acid leaching (HPAL), and re-mining from mining waste could go a long way in bridging the gaping emerging supply gaps.