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Wealthy nations are tapping into their domestic critical mineral reserves and buying up mines in poorer countries. The US, the UK, Canada, Australia, and China are taking the lead, with Chinese operations spanning all continents except Antarctica.
The proximity of these elements in the periodic table mean they have similar electron structure and require complex separation processes during processing. However, their uncommon magnetic, luminescent, and electrical properties make them invaluable for critical industrial applications.
Most of the US's supply of critical minerals depends on countries that have historically competed with it, which has raised concerns in Washington. These minerals are needed for green technologies to meet greenhouse gas emission reduction goals.
Mineral wealth can provide public revenue and economic livelihoods to those in mining regions. However, poor management and lack of oversight can cause human rights abuses, environmental degradation, and significant greenhouse gas emissions.
Despite the dependence of phones, laptops, electric cars, and other technologies on the soft, silvery-white metal for their batteries, residents of the Lithium Triangle have not seen the benefits of investments into mining this critical mineral, and have instead faced water shortages and pollution.
Wealthy nations are tapping into their domestic critical mineral reserves and buying up mines in poorer countries. The US, the UK, Canada, Australia, and China are taking the lead, with Chinese operations spanning all continents except Antarctica.
Domestic stockpiles were inadequate for the extended trade disruptions caused by the four-year war. In response, the US Geological Survey increased its geological mapping to help search for important metals alongside new oil fields for fuel.
For decades, supply chains for critical minerals have grown increasingly vulnerable due to reliance on imports. In 2022, the US Geological Survey expanded the list of critical minerals to 50 to better reflect growing industrial needs, exacerbating this vulnerability.
Solar panels use silver due to its high conductivity, hydropower plants use chromium in their steel alloys, and geothermal plants need titanium to withstand abundant heat and pressure. Lithium—used in energy storage—is expected to see over 500% increased demand from 2020 to 2025.
Rather than solely focusing on new mining operations, which can take decades to establish, some startups are developing methods to obtain these metals from the toxic waste of existing operations and minimize environmental impacts.
The seafloor contains cobalt-rich deposits at underwater ridges and seamounts, as well as nodules—potato-sized deposits of metals—scattered at depths between 4,000 and 6,000 meters. Mining noise, lights, release of toxic elements, and scraping of the seafloor could affect marine organisms.
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