Visualizing All the Metals for Renewable Tech

July 22, 2022

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by Nicholas LePen (Elements Visual Capitalist) Visualizing the Metals for Renewable Tech -- The energy transition will be mineral intensive and create massive demand for all the metals in renewable tech. Electricity from renewable technology grew at the fastest rate in two decades in 2020, according to a report from the International Energy Agency (IEA).

Consequently, as the pace of the energy transition gains further momentum, the demand for metals will increase. But which ones?

As shown (below), the graphic takes data from the World Bank’s Climate Smart Report outlines what metals each renewable technology will require and their overlapping uses.

All the Metals for Renewable Tech

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All the Metals for Renewable Tech

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Limited Resources, High Prices

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In fact, the mining industry needs to invest $1.7 trillion over the next 15 years to supply enough metals for renewable tech, according to consultancy Wood Mackenzie.

However, the mining industry is not ready to support an accelerated energy transition. While there are a host of projects at varying stages of development, there are many risks that could increase supply constraints and price volatility:

High geographical concentration of production
Long project development lead times
Declining resource quality
Growing scrutiny of environmental and social performance
Higher exposure to climate risks

In addition, some nations are in a better position than others to secure the metals they need for renewable technologies. Attaining these new sources will be vital and valuable for a clean energy future. READ MORE

Race to Net Zero: The Pressures of the Battery Boom in Five Charts (Bloomberg)

Is sustainable mining possible? The EV revolution depends on it. -- A proposal for a ‘sustainable mine’ in Minnesota has the backing of Tesla. But will it win over the community? (Washington Post)

The Future of Copper: Will the looming supply gap short-circuit the energy transition? (American Energy Society Energy Today)

Looming Copper Squeeze May Force Market to Seek a Recycling Fix (BNN Bloomberg)

'The Sacrifice Zone': Myanmar bears cost of green energy (AP)

Globally more is being spent on coal than copper mining (Mining.com)

Rare earth metals are used extensively in clean energy technologies. But how safe are they? Mining and disposal of these elements add to the environmental damages and ecological burden (Down to Earth)

The Future of Copper: Will the looming supply gap short-circuit the energy transition? (Energy Today)

Mine, baby, mine — for the climate ... Add the mining industry to the business interests set to receive benefits from the $369 billion climate law (Politico's Power Switch)

Opinion California’s new emissions rule speeds up the future of cars (Washington Post)

This Remote Mine Could Foretell the Future of America's Electric Car Industry (New York Times)

Ford seeking permitting changes to push EVs forward (Politico Pro)

NAVELS OF EARTH. GIANT ARTIFICIAL QUARRIES OF THE PLANET (Orange Smile)

WHAT IS DRIVING LITHIUM PRICES IN 2022 AND BEYOND? (Benchmark Mineral Intelligence)

White House says climate law will fuel import boom -- The European Union and other trading partners have raised concerns about a number of IRA provisions. (Politico Pro)

Russian fuel supply latest headache for Rio Tinto’s giant Mongolia copper expansion (Mining.com)

Why the rush to mine lithium could dry up the High Andes: A mining boom in mountainous Argentina, Chile and Bolivia, home to half the world’s lithium reserves, could drain vital ecosystems and deprive Indigenous communities of water. (Green Biz)

Excerpt from Bloomberg: But metals could soon become the new oil in the road transport sector, underpinning the batteries that will power the electric vehicle revolution.

As demand continues to grow, battery producers and automakers are scrambling to secure access to key metals such as lithium and nickel, battling high prices and tight supply.

Here are five charts from BloombergNEF showing the pressures arising from the battery boom.

1. Soaring demand comes up against supply constraints

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2. Trouble ahead for lithium

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3. Higher battery costs could delay the tipping point for EVs

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4. Cheaper battery chemistries could become more popular

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5. Efforts to build domestic supply chains won’t eliminate dependence on China READ MORE

Excerpt from Washington Post: As recently as 2018, 86 percent of batteries that powered electric vehicles required cobalt, a fairly rare metal. Experts predicted dire shortages that would limit industry capacity. But automakers — first in China, now in Europe and the United States as well — began using a different battery technology, and today only 60 percent of vehicle batteries require cobalt, according to Bloomberg News. That percentage is expected to continue to fall. READ MORE

Excerpt from Politico Pro: The new U.S. climate law will trigger a major expansion of critical mineral and other imports, despite concerns that many trading partners are raising about its provisions, a White House official said Tuesday.

"If we do everything right under the [Inflation Reduction Act], we will still not develop all our demand here in the United States," Amos Hochstein, special presidential coordinator for international energy security and infrastructure investment, said during a panel discussion hosted by Silverado Policy Accelerator, a think tank. "We are still going to be way short."

The United States will need massive amounts of critical minerals such as graphite, lithium, nickel, cobalt and copper as it strives to produce enough electric vehicles and other zero-emission cars to account for 100 percent of new vehicle sales by 2035, Hochstein said. "That's mind-boggling. We're still going to be importing from the rest of the world," he said.

The European Union and other trading partners have raised concerns about a number of IRA provisions, including one that requires electric vehicles to be assembled in North America to qualify for a $7,500 consumer tax credit. Additional rules that are scheduled to go into force on Jan. 1 set additional domestic content requirements for the batteries and for the critical minerals that go into the batteries. READ MORE