Critical minerals supply could pull close to demand by 2030, says IEA
In a significant breakthrough for energy transition, the supply of critical minerals is poised to meet the levels necessary to support the ambitious climate pledge by 2030, the International Energy Agency (IEA) said on Tuesday.
Driven by rising demand and high prices, the market size of key energy transition minerals doubled over the past five years, touching $320 billion in 2022.
Investment in critical minerals development recorded a sharp uptick by 30 per cent in 2022. This is following a 20 per cent increase in 2021, IEA said in its Critical Minerals Market Review 2023 report.
