Critical raw materials

Governments designate critical raw materials (CRM) (also referred to as critical materials or critical minerals) as critical for their economies so there is no single list of such raw materials as the list varies from country to country as does the definition of critical.[1] They include technology-critical elements, rare-earth elements and strategic materials.

Price movements of critical materials[2]
Demand for key energy transition minerals in 2023[3]

History and background

Analyzing the historical development of country approaches to critical materials, David Peck discusses the interplay between those that emphasize economic growth ("tech will fix it") and those that argue that finite resources will be exhausted ("limits to growth"). These two approaches are a feature of debate around critical materials and both are important, while countries also act in self-interest as well as responding to geopolitical tensions.[4]

Terminology and Country Definitions

For advanced industrial economies the commonly used terms "critical minerals" or "critical raw materials" refer to materials required for their strategic industries where there is a risk of interruption to supply.[5] The Minerals Security Partnership (MSP) is a transnational association whose members seek to secure a stable supply of raw materials for their economies.[6] On 5 April 2024, MSP partners launched the Minerals Security Partnership Forum to enhance cooperation in respect of CRM critical to "green and digital transitions".[7]

Criticality

According to the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF), criticality has no agreed definition, varies with time, and is specific to country and context.[8]

US

Main article: United States critical materials list

2023 Final Critical Materials List includes critical materials for energy (sometimes known as the "electric 18")[a] together with 50 critical minerals.[b][9]

EU

Figure gives a summary of critical raw materials lists reported by the European Commission in 2011, 2014 and 2017

The Critical Raw Materials Act came into effect on 23 May 2024. It specifies a list of 34 CRM, including 17 raw materials[c] considered strategic.[10][11]

UK

The Critical Minerals Strategy, Resilience for the Future[12] was published in July 2022, updated[13] in March 2023.[14] As of December 2023, the UK does not produce any of the 18 identified highly critical CRM[d][15]while a watchlist of increasingly critical materials includes Iridium, Manganese, Nickel, Phosphates and Ruthenium.[16]

In November 2024, the UK 2024 Criticality Assessment commissioned by the Department for Business and Trade, was published by the Critical Minerals Intelligence Centre, a unit of the British Geological Survey.[17] The report identified 34 minerals as critical. Aluminium, chromium, germanium, iron and nickel were added to the 2021 list while palladium was removed.[18]

China

On November 30, 2023, the Ministry of National Security of China defined critical minerals[e] as "those irreplaceable metal elements and mineral deposits used in advanced industries, such as new materials, new energy, next-generation information technology, artificial intelligence, biotechnology, edge-cutting equipment manufacturing, national defense, and military sectors."[19]

Geopolitical risk

There is an increased focus on supply chains in general and for critical materials specifically, highlighted by US-China competition. China is the biggest producer of 30 of the US 50 critical minerals as well as being a significant player in downstream processing and manufacture.[20] Following US restrictions on the Chinese semiconductor industry,[21] China, on 3 December 2024, for the first time imposed export restrictions targeted at the United States only rather than all countries, covering antimony, gallium, and germanium.[22]

A 2024 analysis from the World Economic Forum states that potential scarcity of critical materials arising from the Energy transition will be driven by demand factors and suggests ways for governments to address the uncertainties involved.[23][24]

See also

References

  1. ^ "What are 'critical minerals' and what is their significance for climate change action?". Grantham Research Institute on climate change and the environment.
  2. ^ "Executive summary – Global Critical Minerals Outlook 2024 – Analysis". IEA.
  3. ^ Global Critical Minerals Outlook 2024 (PDF) (Report). International Energy Agency. 2024.
  4. ^ David Peck (2018). "5.A Historical Perspective of Critical Materials, 1939 to 2006". In S. Erik Offerman (ed.). Critical materials : underlying causes and sustainable mitigation strategies. World Scientific Publishing Co. Pte. Ltd. ISBN 9789813271043.
  5. ^ Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (May 2024). What Makes Minerals and Metals "Critical"? A practical guide for governments on building resilient supply chains (PDF) (Report). International Institute for Sustainable Development.{{cite report}}: CS1 maint: multiple names: authors list (link)
  6. ^ "Minerals Security Partnership MEDIA NOTE". US Department of State. 14 June 2022. Archived from the original on 5 May 2023. Retrieved 5 May 2023.
  7. ^ "Press corner".
  8. ^ Critical minerals: A primer (PDF) (Report). The Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development. 2022.
  9. ^ "Notice of Final Determination on 2023 DOE Critical Materials List". 4 August 2023.
  10. ^ "Critical raw materials - European Commission". single-market-economy.ec.europa.eu.
  11. ^ Carole Maczkovics, Sam Jungyun Choi, Matthieu Coget, Cándido García Molyneux (May 17, 2024). "The EU Critical Raw Materials Act enters into force". Global Policy Watch.{{cite web}}: CS1 maint: multiple names: authors list (link)
  12. ^ Resilience for the Future: The United Kingdom's Critical Minerals Strategy (Report). HM Government. July 2022.
  13. ^ "Critical minerals refresh". GOV.UK.
  14. ^ "The UK Strategy for Critical Minerals | Womble Bond Dickinson". www.womblebonddickinson.com.
  15. ^ https://www.hfw.com/app/uploads/2024/04/004438-HFW-CLIENT-GUIDE-The-UK-Critical-Minerals-Strategy.pdf
  16. ^ "What is the UK's Critical Minerals Strategy, and how does it compare to the EU's and Australia's strategies?". www.twobirds.com.
  17. ^ "UK 2024 criticality assessment". British Geological Survey. 29 November 2024.
  18. ^ "Report flags UK vulnerable to critical minerals supply". www.iom3.org.
  19. ^ "Four key critical minerals in China likely to be under the spotlight at AFA 2024". 22 February 2024.
  20. ^ "Resource realism: The geopolitics of critical mineral supply chains". www.goldmansachs.com.
  21. ^ "Commerce Strengthens Export Controls to Restrict China's Capability to Produce Advanced Semiconductors for Military Applications | Bureau of Industry and Security". www.bis.gov.
  22. ^ Baskaran, Gracelin; Schwartz, Meredith (December 4, 2024). "China Imposes Its Most Stringent Critical Minerals Export Restrictions Yet Amidst Escalating U.S.-China Tech War" – via www.csis.org.
  23. ^ "Geopolitics and critical mineral dependencies". World Economic Forum.
  24. ^ Energy Transition and Geopolitics: Are Critical Minerals the New Oil? (PDF) (Report). World Economic Forum. April 2024.

Notes

  1. ^ aluminum, cobalt, copper, dysprosium, electrical steel, fluorine, gallium, iridium, lithium, magnesium, natural graphite, neodymium, nickel, platinum, praseodymium, silicon, silicon carbide and terbium
  2. ^ Aluminum, antimony, arsenic, barite, beryllium, bismuth, cerium, cesium, chromium, cobalt, dysprosium, erbium, europium, fluorspar, gadolinium, gallium, germanium, graphite, hafnium, holmium, indium, iridium, lanthanum, lithium, lutetium, magnesium, manganese, neodymium, nickel, niobium, palladium, platinum, praseodymium, rhodium, rubidium, ruthenium, samarium, scandium, tantalum, tellurium, terbium, thulium, tin, titanium, tungsten, vanadium, ytterbium, yttrium, zinc, and zirconium.
  3. ^ Bauxite, Coking Coal, Lithium, Phosphorus, Antimony, Feldspar, Light rare earth elements, Scandium, Arsenic, Fluorspar, Magnesium, Silicon metal, Baryte, Gallium, Manganese, Strontium, Beryllium, Germanium, Natural Graphite, Tantalum, Bismuth, Hafnium, Niobium, Titanium metal, Boron/Borate, Helium, Platinum group metals, Tungsten, Cobalt, Heavy rare earth elements, Phosphate Rock, Vanadium, Copper, Nickel.
  4. ^ Antimony, Bismuth, Cobalt, Gallium, Graphite, Indium, Lithium, Magnesium, Niobium, Palladium, Platinum, Rare Earth Elements, Silicon, Tantalum, Tellurium, Tin, Tungsten, Vanadium
  5. ^ aluminium, antimony, beryllium, boron, chrome, coal, cobalt, copper, fluorite, gallium, germanium, graphite, indium, iron, lithium, manganese, molybdenum, natural gas, nickel, niobium, petroleum, potassium, rare earths, rhenium, tantalum, tin, titanium, tungsten, uranium, vanadium and zirconium

Bibliography

  • S. Erik Offerman, ed. (2018). Critical materials : underlying causes and sustainable mitigation strategies. World Scientific Publishing Co. Pte. Ltd. ISBN 9789813271043.
  • Dr. Arda Işıldar & Dr. Eric D. van Hullebusch, ed. (2024). Critical Materials and Sustainability Transition. CRC Press/Balkema. ISBN 978-1-003-21892-0.

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