What are critical minerals?
Critical minerals underpin the foundation of the modern world. We cannot build modern technologies such as:
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electric vehicles,
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wind turbines,
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solar panels,
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hydroelectric plants, or
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hydrogen-based technologies without raw materials.
A critical mineral is as a non-fuel mineral or mineral material essential to the economic or national security of a nation and which has a supply chain vulnerable to disruption.
Disruptions can be natural, logistical, and geopolitical.
The CMIA and our associations split critical minerals into three fluid categories.
Critical Minerals
Minerals that are necessary for the industrial objectives of a country or company. Most of these have supply chain vulnerabilities.
Technology Metals
Metals that are necessary to make new technology work. These have limited supply chain vulnerabilities.
Strategic Minerals
Minerals with diplomatic or defence importance.
Industries Reliant on Critical Minerals
Agriculture
Energy
Defence
Medical
Technology
Manufacturing
Space
Transport
Communications
Science & Innovation
Drivers of Criticality
Increasingly, more minerals and metals are added to critical minerals lists by nations that are concerned over their supply chain security.
Underinvestment in exploration and early-stage critical minerals projects, lengthy planning and permitting processes, red tape, and international competition have limited domestic production.
Outsourcing of midstream processing and refining to third nations have contributed to the monopolisation of supply chains.
Key drivers impacting criticality include:
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projected demand for energy transition applications, defence, technology and agriculture outstripping current and projected production;
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geopolitical disturbances to supply chains;
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limitations of the circular economy, including recovery rates, policy and legislation, technological challenges;
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increased nationalisation of resources;
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lack of substitution options.
National Strategies and Lists
Several nations, including the US, Canada, and the UK have published Critical Mineral Lists that reflect what metals and minerals are critical to those Governments.
Australia
Australia updated its Critical Minerals Strategy in 2023 and its Critical Minerals List while introducing a new Strategic Minerals List.
Canada
Canada released a Critical Minerals Strategy in 2022 and its Critical Minerals List 2022 includes 31 metals and minerals.
European Union
The European Commission expanded its critical raw materials list to 34 commodities in 2023, 17 of which are considered 'strategic'.
India
India released its critical minerals list in 2023 which includes 30 commodities.
Japan
Japan's resource strategy dates back to the mid-1980s. The list has been since updated to include 31 raw materials.
Korea
South Korea has designated ten metals as strategic in 2023 alongside the development of a strategy.
United Kingdom
The UK's 2021 critical minerals list includes 18 minerals, in 2023 the UK government released a strategy 'refresh'.
United States
The U.S. has two critical minerals lists, the United States Geological Survey and the Department of Energy lists, and the DLA's 'materials of interest' list.