Critical minerals, essential for a range of clean energy technologies, have rapidly risen up the policy and business agenda in recent years. While rising demand is providing new growth opportunities for the industry, a combination of volatile price movements, supply chain bottlenecks and geopolitical concerns has created a potent mix of risks for secure and rapid energy transitions.
Since the IEA’s landmark analysis on the Role of Critical Minerals in Clean Energy Transitions and the new ministerial mandates it received in March 2022, the Agency has been expanding its work on critical minerals to help policy makers address these emerging challenges. This includes regular market monitoring, which aims to provide a clear understanding of the state of the industry and its direction of travel. The inaugural piece of analysis for this, Critical Minerals Market Review 2023, will review the latest price, investment and production trends in the critical minerals sector in 2022 and early 2023. The report also provides a concise review of key trends for individual commodities and presents implications for policy and industry stakeholders. The report will be accompanied by the IEA Critical Minerals Data Explorer, an online tool to allow users to easily access and navigate the latest data.