Unpacking Mineral Markets

Decarbonization and development are driving up demand for critical minerals; the countries that produce these minerals have new opportunities to capture value both from mining and from more lucrative downstream activities. Yet mineral price volatility and overcapacity across the supply chain have put these ambitions to the test. The mix and scale of transition demand now and in the future, and the expectations behind them, will shape realized growth in market volumes, while prices, which are volatile and uncertain, will determine fiscal windfalls as well as the viability of projects both upstream and downstream. This series examines mineral market dynamics to ground more robust policy objectives aimed at lasting development outcomes.

Image: “Battery modules being tested at the Thermal Test Facility at the National Renewable Energy Laboratory.” US Department of Energy.