為能源過渡而保護(hù)礦物2023白皮書

Incollaborationwith

McKinsey&Company

SecuringMineralsfortheEnergyTransition

WHITEPAPER

DECEMBER2023

Images:GettyImages

Contents

Executivesummary

3

Introduction:Energytransitionisatriskofcriticalmineralsundersupply

4

1Riskcharacterization

6

2Addressingtherisks

8

3Theneedforglobalcollaboration

10

4Themesforcollaborativeaction

11

Conclusion

13

Contributors

14

Endnotes

16

Disclaimer

Thisdocumentispublishedbythe

WorldEconomicForumasacontribution

toaproject,insightareaorinteraction.

Thefindings,interpretationsand

conclusionsexpressedhereinarearesult

ofacollaborativeprocessfacilitatedand

endorsedbytheWorldEconomicForum

butwhoseresultsdonotnecessarily

representtheviewsoftheWorldEconomic

Forum,northeentiretyofitsMembers,

Partnersorotherstakeholders.

?2023WorldEconomicForum.Allrights

reserved.Nopartofthispublicationmay

bereproducedortransmittedinanyform

orbyanymeans,includingphotocopying

andrecording,orbyanyinformation

storageandretrievalsystem.

SecuringMineralsfortheEnergyTransition2

December2023

SecuringMineralsfortheEnergyTransition

Executivesummary

Theworldisonanambitiouspathtodecarbonizeandachievenet-zeroemissions.However,criticalmineralsessentialforkeyemissions-reduction

technologiesmaybeinshortsupplyby2030.

Historicalunderinvestmentinminingand

exploration,aswellassupplychaindisruptions,

arealreadycreatingdemand-supplygaps.So

arelengthyleadtimesbetweenexplorationand

production,ontopofthefactthatoftenthese

mineralshavecomplexorebodies,makingthem

difficultandcostlytoextract.Ifcurrenttrendshold,manyminerals’supplymayfallshortofdemandby2030,potentiallyjeopardizingshort-termclimate

goalsanddrivingfurtherpricevolatility.

Itiscrucialtoidentifyandunderstandkeysupply-chainriskstomanagetheminerals-related

obstaclesfortheenergytransition.Twotypes

ofrisksareassociatedwiththesupply-demand

gapofcriticalminerals:(i)risksassociatedwith

theinabilitytoclosethesupply-demandgapand(ii)risksassociatedwiththeeffortstoclosethe

supply-demandgap.Bothcouldsignificantlydelay

theenergytransition.Theserisksthreatentodisruptthesupplychainbeyondtheminingandmetals

industry,delaytheenergytransition,andhavedeleterioussocialandenvironmentaloutcomes.

Thisreportidentifies10high-priorityrisk

managementstrategiesforthesekeyminerals.

Thesestrategiesaredesignedto:reduceresource

intensity;mobilizeinvestment;leveragealternativefinancing;increasedatatransparency;address

priceuncertainty;increasevalue-addforlocal

communities;encouragedialogueonpolicydesign;accelerateinnovation;addresslackofconsistencyamongmining-relatedenvironmental,socialand

governance(ESG)standards;andstreamlineminingprojects’approval.Theyareessentialforcreatingamoreresilientandsustainableminingindustrythatcanmeetthegrowingdemandforcriticalmineralsinaresponsibleandequitablemanner.

Effectiveriskmanagementrequiresstakeholders

tocollectivelyreduceandadapttosupply-chain

risks.Globalcollaborationcanraiseawarenessanddriveactiontotacklethedisparityinthesupply

anddemandofcriticalminerals.Onthecontrary,isolatedeffortsbygovernments,theprivatesectorandnon-profitorganizationsareunlikelytoaddresstheenergytransitionchallenge.Collaboration

isnecessarytounifyefforts,mitigateregionalimbalancesandensuresufficientandequitablesupplyofcriticalminerals.

Thekeythemesforglobalcollaborationinclude

facilitatingpolicydialogue,supportinginvestment

mobilization,acceleratinginnovation,evaluating

gapsinexistingESGstandards,andbuilding

capabilitiesacrossthevaluechain.Thisreportdivesintothecriticalroleofthreeprioritycollaborative

actions–facilitatingpolicydialogue,supporting

investmentmobilizationandacceleratinginnovation.

SecuringMineralsfortheEnergyTransition3

MegatonMegaton

KilotonKiloton

Introduction

ambitionrisesgloballyandtheenergyaccelerates,thesupplyofcriticalminerals

fallshortofdemandby

2030.

ambitious

net-zeroemissionsfundamental

atan

thekeylow-carbonenergysolutionsrelies

consumptionofwitnessasignificant

Undercurrentprojections,thesupplyofcritical

commoditiesisexpectedtobeinsufficientto

meettherisingdemand.Theconsumptionof

mineralsandmetalscomesinahistoricalcontextofunderinvestmentinmineralexplorationand

mining.Inthelast10years,theratioofglobalcapitalexpendituretorevenuedecreasedto

lessthan10%comparedto15%intheprevious

decade.1Moreover,theminingsupplychainfacedincreasingchallenges,suchascomplexorebodies,decreasinggradesaswellasdisruptions.These

challenges,aswellaslongleadtimesbetween

explorationandmineralproductionthatcannot

easilybecompressed,makeitdifficulttospeedupdevelopment.Withoutfurtheraction,thesupply

ofcommoditiessuchascopper,nickel,lithium,

cobaltandrareearthelements(REEs)maynotbesufficienttomeetthe2030demand(Figure1).2

EnergyAgency

Scenario,demandfor

technologieswillCleanerenergyandbattery

morecriticalmineral

energyinfrastructure,

minerals.

underthe

PledgesScenario

FIGURE

Announced

IEA’s

gap

Asclimate

transition

isexpectedto

Theworldhasembarkedonan

decarbonizationjourneytowardstargets.Thistransitionwillrequiretechnologyshiftsacrossindustriesunprecedentedspeed.Eachof

abatementtechnologiesand

onmineralsandmetals,andthetheserawmaterialsissetto

increaseoverthenextdecade.

AccordingtotheInternational

(IEA)’sAnnouncedPledges

criticalmineralsforcleanenergy

growmorethantwo-foldby2030.infrastructure,suchaswindpowerelectricvehicles(BEVs)thatuse

componentsthanthelegacy

willdependonthesupplyofcritical

1Anticipatedsupply-demand

+8%

+6%

+6%

-16%

Copper

2030

supply*

demand**

Nickel

2030

supply*

demand**

Supply-demandgapinanAnnouncedPledgesScenario.

Lithium

700

600

35

30

25

20

15

10

5

0

500

400

300

200

100

0

2030supply*

Announced

PledgesScenario

Announced

PledgesScenario

demand**

Netzero

emissionsby2050scenario

Netzero

emissionsby2050scenario

Cobalt

350

300

250

200

150

100

50

0

6

5

4

3

2

1

0

Announced

PledgesScenario

demand**

Netzero

emissionsby2050scenario

Announced

PledgesScenario

Netzero

emissionsby2050scenario

2030supply*

Note:*Expectedsupplyby2030atcurrentpaceofproduction;**Expecteddemandin2030underAnnouncedPledgesScenario.

Source:IEA,CriticalMineralsMarketReview2023.

BOX1

Shortageswouldleadtosignificantpricespikesandvolatilityacrossminerals,whichinturnwouldmakethekeytechnologiesmoreexpensive.

Inthecomingdecades,itwillbecrucialtosecure

areliablesupplyofenergy-transitionmineralsto

supportthethreedimensionsoftheenergytriangle:

–Security:Areliable,uninterruptedand

evolvingenergysystemthatcanwithstand

andrespondtosupply-demanddynamicsandrecoverrapidlyfromdisruptions.

–Equity:Anenergysysteminwhichenergyisfairlydistributed,accessibleandaffordable;asysteminwhichsustainabilityinitiatives(andbenefits)aresharedtoenableinclusive,equitableeconomic

growthandimprovedstandardsofliving.

ObjectivesoftheSMETinitiative

–Sustainability:Anenergysystemthatis

consumption-consciousanddecarbonized,

supportingtheambitionofacleanerandless

pollutedearthforcurrentandfuturegenerations.

TheWorldEconomicForum’sSecuringMineralsfortheEnergyTransition(SMET)initiativehas

beenworkingonidentifyingtherisksthatwill

emergeifcriticalminerals’supplylagsdemand,andformulatingpriorityriskmanagement

strategies(Box1).Theinitiativehasalsobeen

focusedonbuildingcollaborationandconnectionsbetweenrelevantstakeholderstoswiftlymobilizeactionandraiseawarenesstoaddressthe

supply-demandimbalance.

2.Conveneglobalstakeholdersinacommon

efforttosupportasecure,equitableand

sustainablesupplyofmineralsessentialfortheenergytransition.

SMETisaninitiativeoftheWorldEconomic

ForuminpartnershipwithMcKinsey&Companyastheknowledgepartner,andadiversegroupofinternationalandprivatesectororganizations.

TheSecuringMineralsfortheEnergyTransition(SMET)initiativehastwoobjectives:

1.Identifyandcharacterizestrategiesforthe

collectivemanagementofrisksfromthe

supply-demandgapincriticalmineralsneededintheenergytransition.

SecuringMineralsfortheEnergyTransition5

1

Riskcharacterization

Identifyingandunderstandingkeyrisksacrossmultipledimensionsiscrucial

tomanagepotentialobstaclesfortheenergytransition.

Twotypesofrisksareevident:(i)risksassociated

withtheinabilitytoclosethesupply-demandgap,

and(ii)risksassociatedwitheffortstoclosethe

supply-demandgap,bothofwhichthreatento

significantlydelaytheenergytransition.TheSMET

initiativehasexploredecosystemrisks,namely,risksnotonlytotheprimarystakeholdersinthevalue

chain(suchasrawmineralsuppliers,technology

producers,originalequipmentmanufacturers(OEMs)andintermediaries)butalsosecondarystakeholders(includingconsumers,governmentsandthewider

societyandtheenvironment).

TheSMETinitiativehasidentifiedandprioritized

theserisksthroughworkshopswithadiversegroupofstakeholders,includinginternationalorganizationsandprivatesectorcompaniesfromacrossthevaluechain.Theparticipantsassessedtherisksbased

ontheirpotentialimpactontheecosystemandthelikelihoodoftheiroccurrence.Althoughseveralriskscouldaffecttheecosystem,onlythemostrelevantoneswereconsideredfortheprioritylist.

Thesepriorityrisksspanfivecategories,chosen

inlinewiththePESTELframework,3considering

political,economic,social,technologicaland

environmentalriskdimensions.Forlikelihoodto

happen,“l(fā)ow”representedariskthatisnotlikelytohappenand“extremelyhigh”ariskthatisverylikelytooccur.Forimpactontheecosystem,“l(fā)ow”representedaminorimpactand“extremelyhigh”representedacatastrophicimpactonhuman

livesorsociety.Therisksarelikelytodifferacrossgeographiesandtime.Themainrisksidentified

andscoredaresummarizedinFigure2,acrossthelikelihood-impactmatrix.

Setbacksinsocio-economicdevelopmentinproducing

countriesforcedtoleapfrogtraditionalformoreexpensivetechnologies

FIGURE2Ecosystemrisksfromthesupplydemandimbalanceofcriticalmaterials

Impact1

Extremelyhigh

High

Medium

Low

Catastrophicclimateevents

Delayofthe

energytransition

Lackofpoliticalwillfortheenergytransition

Con?ictoverresources

Reputational

damagefor

energytransition

Increasingresourcenationalism

Joblossesincase

ofmaterialsshortage

ESGtargetsbecomingunattainable

Higherenvironmentalpressureonecosystemsandwastegeneration

Backlashinadoptingnewtechnologies

Reduced

responsiblemining

Higherdemandforresourcesfromincreasedmining

Increasingtradefragmentation

Lackofaccesstocapitaltoaddresstheimbalance

Marketvolatility

anduncertainty

Resourcesusedforclimatechangeadaptationinsteadofmitigation

Cascadingrenewabletechnologyshortages

Supplychainfragmentation

Increaseinartisanalandillegalmining

Risingnew

technologyprices

Stockpilingofcriticalminerals

Geopoliticalrisksdisruptingmaterialsvaluechains

Pressuresinsubstitutematerialsupplychains

Regulatoryracetothebottomasinvestment?owstocountrieswithlowerESGstandards

Reduced

accesstoenergyandtransportservices

Lowincentivesfornewminingprojects

Loweracceptanceofminingprojects

Uncoordinatedlanduse

Increased

workforce

pressurefor

productivity

overwell-being

Likelihood2

Low

Medium

High

Extremelyhigh

Secondaryrisk(cannotbedirectlyaddressedinthevaluechain).

Highestlikelihoodandimpactrisks.

PoliticalEconomicSocialTechnologicalEnvironmental

Note:1.Impactontheecosystem:“Low”representsminorimpactand“Extremelyhigh”representscatastrophicimpactonhumanlives,societiesandtheplanet.

2.Likelihoodtohappen:“Low”representsariskthatisnotlikelytocometopassand“Extremelyhigh”ariskthatisverylikelytooccur.

Source:Riskidentificationbasedoninsightsfromriskcharacterizationworkshop,“SecuringMineralsfortheEnergyTransition”,andMcKinseyanalysis.

AssessmentstructurefromWorldEconomicForumGlobalRisksReport2017.Therisksidentifiedintheworkshoparerenamedandplacedinthematrixbasedontheassessment.

2

Addressingtherisks

Effectiveriskmanagementnecessitatesconcertedeffortsbyallstakeholderstocollectivelyreduceandadapttorisks.

Properriskmitigationneedscoordinatedefforts.Riskmanagementstrategiesmustproactivelyidentify,

assessandmitigatesupply-demandimbalances,

ensuringasmootherandmoreresilienttransition

towardsasustainableenergyfuture.Whileeffortsarecurrentlyontomanagesupplyrisksacrosskeygeographiesandminerals,morecoordinatedactionisneededandatanacceleratedpace.

Thetop10high-prioritystrategiesselectedforimplementationare:

1.Decreasetheresourceintensityofminingactivitieswhileimprovingresource

efficiencyandreuse.

Theenvironmentalimpactofminingoperations

canbereducedbyadoptingmoresustainable

practicesthatminimizetheconsumptionof

naturalresourcessuchasmineralsandwater.

Thisinvolvesemployingefficienttechnologiesandimplementingclosed-loopsystemstoextract,

processandreuseminerals.Someexamples

includeadoptingcircularitymodelssuchasurbanmining(e.g.extractingcriticalmineralslikeREEsfromend-of-lifeelectronics),reducingwasteby

extractingmorefromlower-qualityoresthroughleachingtechnologies,andthecreationofa

secondarymarketforcriticalminerals.4

2.Mobilizeinternationalprivateand

institutionalinvestmentforthetransition.Investmentfromprivateandinstitutional

sourcescanincreasethesupplyofcritical

mineralstosupportthetransition.Without

sufficientfinancing,technologicalinnovationsthatfacilitateexploration,miningproductivityandefficiency,andprocessingandrecyclingprocesses,areunlikelytobridgethe

supply-demandgapforcriticalminerals.

FurtherinvestmentscanbeencouragedbyinstitutionalizingESGprinciplesinforeigninvestmentsandthroughdigitalplatformsthatconnectresponsibleinvestorsto

responsibleprojects.

3.Leveragealternativefinancinginstrumentsinchallengingmarkets.5

Alternativefinancinginstruments(i.e.financial

productsandservicesthataredesignedto

raisecapitaloutsideoftraditionalchannels)canreduceinvestorrisks,especiallyformarketswithlimitedfinancereadiness.Theseinstruments

canbeleveragedbylocalgovernmentsand

industryleaderstoincreasetransparency,

reducerisksandenhanceclimatefinance

readiness.Examplesofalternativefinancing

instrumentsincludeconcessionalandblendedfinance,impactinvestingandgreenbonds.

4.Increasedatatransparencyonsupplyanddemand.

Improveddatatransparencyinthemining

industryandcriticalmineralsupplychainscan

helpstakeholdersmakewell-informeddecisionstosecurecriticalminerals.Sharingaccurate

andup-to-dateinformationonsupplyand

demanddynamicscanenablestakeholderstotakeproactivemeasuresthataddresspotentialshortagesorexcessesofcriticalminerals.Thiscanincludemineraltrackingsystemsthroughoutthesupplychaintopredictfuturedemand

trends.Collaborativeplatformsforsharingglobalandnationaldemanddataformineralscanalsoincreasetransparency.

5.Addresspriceuncertaintyduetolimitedinformation.

Thecreationofstabletradingrelationshipscanaddresspriceuncertainty.Stakeholderscan

usefinancialinstrumentslikehedgingstrategies,orexplorelong-termcontractstoprovide

greaterpricestabilityforbothproducersandconsumers.Further,thereisaneedforpricetransparencymeasuressuchasfacilitatinggreateruseofspotpricingtransactions,

particularlyinthosemineralmarketswheretheinformationiscoveredinlong-term,undisclosedcommercialagreementsandofftakecontractsbetweenbuyersandsellers.

6.Increasevalue-addforlocalcommunities.Miningcompaniescantakestepstoreduce

theimpactthatlanduse,extractionand

pollutionhaveonnature,whileincreasingthesocio-economicbenefitsoftheirprojects.

Whenbeginningnewprojectsandexpandingcurrentoperations,miningcompaniescan

fostersustainabledevelopmentthroughjobsandskillscreation,localdevelopmentandthepromotionofequalityandinclusion.Thiswillrequirecollaborationbetweencompaniesandgovernmentstoidentifystrategicprioritiesforlocalsocio-economicdevelopment.

SecuringMineralsfortheEnergyTransition8

7.Encouragingdialogueonpolicydesign.

Policy-makersmustfosteraconducive

environmentforinvestmentintheminerals

neededfortheenergytransitionandto

ensureequitableandlong-termaccess.Theymustconsidertheinterconnectednessof

environmental,socialandeconomicfactors

whenformulatingregulations.Aholistic,

global-levelcollaborationandpolicydiscussionbetweengovernmentsandpublicandprivatesectororganizationsisessential.

8.Acceleratethepaceofinnovation.

Innovationintechnologiesandpractices

caneitherreducethedemandforacritical

mineralatitsenduseorincreaseitssupplybypromotingefficiencyinproductionthroughoutthevaluechain.Researchanddevelopment,

aswellascollaborationbetweenacademiaandindustry,candrivetheadoptionofcutting-edgetechnologiesandmethodsthatcanhelpreducebothcurrentandfutureshortages.Recognitionplatformsoracceleratorprogrammescanhelpincentivize,promoteandscaleinnovations

throughoutthevaluechain.

9.AddressthelackofconsistencyamongminingESGstandards.

HarmonizedregionalandinternationalminingESGstandardscanhelpcreatealevelplayingfieldforcompanies.Toachievethis,itis

importanttoharmonizeexistingframeworks

toremoveroadblocksinESGperformance,

reportingandtracking.Thesestandardswill

promoteresponsiblemining,enhancethe

transparencyofESGmetricsandensurethatenvironmentalandsocialimpactsaremanagedconsistentlyacrossjurisdictions.Thismay

reducemonitoringcostsandincreasetrustthroughoutthevaluechain.

10.Streamlineandde-riskprocessesfor

approvalandgovernanceofminingprojects.Effortstothisendcanreduceleadtimesand

strengthensupply.Modernizedandstandardizedpermitandapprovalprocedureslikeasingle-

windowsystem,onlinesubmissionplatforms,

digitalrecord-keepingandreal-timetrackingcanstreamlineapprovals.Moreover,enhancingthegovernanceandoversightofminingprojectscanensurecompliancewithregulations.

3

Theneedforglobalcollaboration

Worldwidecollaborationcanraise

awarenessandreducedisparityinthesupplyanddemandofcriticalminerals.

Globalcollaboration,withtheparticipationofmultiplestakeholdersincludingregulators,non-profits,

researchers,industryassociationsandfinanciers,isessentialtoovercometheenergytransitionchallenge.

TheSMETcommunitycollaboratedwithleadersfromover15initiativestoanalysethecoverageofexistingeffortsrelatedtomineralsfortheenergytransition.

Thisanalysisshowedthatmostoftheinitiativesdonotencompassalldimensionsoftheenergytriangle,namelysecurity,equityandsustainability.

Theabsenceofaunifiedefforttobridgethesupply-demandgapmayresultinfragmentationacross

thecriticalmineralvaluechainforESGfactors,

suchasgreenhousegas(GHG)emissions,land

useandpollution,waterusageandcontamination,biodiversitylossandthepromotionofequalityand

inclusion.Thesefragmentationsmayexacerbate

regionalimbalancesanddisparitiesinaccess

tothesecrucialresources.6Hence,aglobal

collaborativeeffortisneededforcollectiveaction.7

Acollaborativeeffortcanenablekeyactorsto

discussgaps,risks,solutionsaswellasgood

practicesandbenefitfromkeyinitiativesbeing

undertakenbydifferentinstitutions.Further,a

collaborativegroupcanidentifygapsandprioritizetopicsandpotentialactionsintherelevant

spaceswhileconveningstakeholdersregularly

tofosterdialogue.Connectingactorstoraise

awarenessaroundkeythemeswillcontribute

toamorecomprehensiveunderstandingofthe

overalllandscapeandraisetheurgencytotake

meaningfulaction.

4

Themesfor

collaborativeaction

SMEThasprioritizedthemesforactiontofacilitateglobalcollaboration.

TheSMETcommunityidentifiedkeythemesfor

actionfromexpertinterviewsandconsultationswithpublicandprivatestakeholdersfromthecritical

mineralsvaluechains.Assessedwithrespecttotheircoveragebyexistinginitiativesandtheirimportanceinfacilitatingthemineralstransition,thefivehighest-scoringthemesforcollaborativeactiontoimprove

uponthecoverageofexistinginitiativesare:

1.Facilitatepolicydialogue:Supportan

enablingenvironmentforpolicydialogueamongstakeholdersandsignpostpolicyforbusinessestoreduceroadblockstotheavailabilityof

mineralsneededfortheenergytransition.

2.Supportinvestmentmobilization:Understandinvestmentneedsacrossthecriticalminerals

valuechainsandmobilizeinvestmenttobridgethesupply-demandgap.

3.Accelerateinnovation:Spurprivate-sector

innovationbyidentifyingnewtechnologiesandsystematicinnovationsforscalingup.

4.EvaluategapsincurrentESGstandards:StreamlineexistingESGframeworksby

connectingvoluntarystandardsgroupswithinternationalstandardsbodies.

5.Buildskillsacrossthevaluechain:Analysegapsandopportunitiesintheneedsforskillsandbuildcapabilitiesacrossthevaluechain.

Facilitatepolicydialogue

Policyanalysiscanfacilitatedialoguebyproviding

stakeholderswiththeevidenceandinsightsthey

needtomakeinformeddecisions.Taxonomiesofferafoundationforanalysisbytrackingandorganizingregionalpoliciesbasedontheirpurpose,methodandoutcomes.Whilemuchhasbeendonetofacilitate

policyanalysisatagloballevel,suchastheIEA’s

CriticalMineralPolicyTracker,8moreisneededattheregionalleveltoaddresslocalizedsupplyrisks.

Openpolicydialoguecanfacilitateconversationsbetweenthepublicandprivatesectorsonthe

bestpracticesforsecuringaccesstocritical

minerals.Regionalforumscanalsoprovidea

venueforstakeholderstodiscussrisksandpolicy

discrepanciesthroughmoderateddialogue.Manyoftheseforumsalreadyexist.Forinstance,the

EuropeanRawMaterialsAlliance(ERMA)9bringstogetherstakeholdersfromindustry,academia

andgovernmenttoanalysepoliciesandto

developrecommendationsforthesecurityofthe

stakeholders’accesstorawmaterials.Similarly,theInternationalRenewableEnergyAgency(IRENA)hasconvenedmembersforitsCollaborativeFrameworkonCriticalMaterialsfortheEnergyTransition.10

Policysignpostscanprovideincreasedvisibility

toinvestors,reducingfrictionsinthemarketby

guidingbusinessesthroughanevolvingregulatorylandscape.Thesesignpostsrefertoindicatorsorsignalsthatsuggestthedirectionofgovernmentpolicyoncriticalminerals.Investorscanusethesetomonitorandpredicttheimplicationsofnew

regulations,whichmayreducepolicy-induced

marketfluctuations.Focusgroupdiscussions

involvingrepresentativesfrombothprivateand

publicsectororganizationsareausefultool,

aidingbusinessesinnavigatingcomplexpolicy

environmentsmoreeffectively.Regularnewslettersandothercommunicationtoolscankeep

businessesupdatedonrecentpolicydevelopmentsandimplications.

Finally,effortstode-riskapprovalsandgovernanceinminingprojectscanimprovethesupplyof

criticalminerals.Bestpracticescanbeapplied

tostreamlinepermitandapprovalprocesses.

Additionally,cleargovernanceguidancespecific

tominingprojectscanbeestablished,outlining

rolesandresponsibilitiesforallstakeholders.Suchmeasurescanensurecompliancewithregulations,socialresponsibilitiesandsafetystandards,whilereducingconflictsanddisruptions.

Supportinvestmentmobilization

Currentinvestmentformanycriticalmineralsfalls

shortofwhatisneededtosupportanaccelerateddeploymentofemissionsreductiontechnologies.

Thelackofinformationonriskscandissuade

investmentsintocriticalminerals’valuechains.

Further,thelong-termnatureofmininginvestments,oftenrequiringadecadeforreturns,maybe

incompatiblewiththeshort-termfocusoffinancialmarkets,hinderingprivateinvestmentsinmining.

SecuringMineralsfortheEnergyTransition11

Thisisespeciallytrueinthelowcommoditypricesenvironment.

Collaborativeinitiativestoanalyseinvestmentneedsandwaysofde-riskinginvestmentsarecrucial.

Withouteffortstoscaleupinvestmentanalytics,

stakeholdersmaybeunabletoidentifyhowto

optimallyinvestintechnologyinnovation,recyclingandsupplychainresilience.Thecollectiveeffort

mayincludegapanalysesthatcancomparesupplychainperformanceagainstdemand,identifyareasofimprovementanddeterminehowstakeholderscanall