{"id":48872,"date":"2023-07-12T09:54:58","date_gmt":"2023-07-12T08:54:58","guid":{"rendered":"https:\/\/www.climatechangenews.com\/?p=48872"},"modified":"2023-07-12T09:54:58","modified_gmt":"2023-07-12T08:54:58","slug":"critical-minerals-lithium-cobalt-nickel","status":"publish","type":"post","link":"https:\/\/www.climatechangenews.com\/2023\/07\/12\/critical-minerals-lithium-cobalt-nickel\/","title":{"rendered":"IEA celebrates energy transition minerals investment, as fears of shortage lessen"},"content":{"rendered":"

Supply of minerals critical to the energy transition could move close to levels needed to support climate pledges by 2030 after a surge in investment, the International Energy Agency said on Tuesday – provided all projects go as planned.<\/strong><\/p>\n

Consultants and analysts have warned of looming shortages due to surging demand for key minerals like lithium and cobalt used in electric vehicles, wind turbines and other clean energy technologies.<\/p>\n

But after investment in critical minerals production jumped 30% last year to $41 billion, having gained 20% in 2021, that picture is looking brighter, the IEA said<\/a>.<\/p>\n

In key battery mineral lithium, the IEA forecasts supply by 2030 will reach 420,000 metric tons – only a touch short of demand estimated at 443,000 to meet government pledges, though well below the 702,000 required for net zero.<\/p>\n

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The size of the market for critical minerals for EVs, wind, solar & other clean technologies hit $320 billion in 2022 & is growing rapidly<\/p>\n

Investment in mineral development is surging too, up 60% in last 2 years, showing how fast clean energy is moving ➡️ https:\/\/t.co\/2Daf1Y0qp0<\/a> pic.twitter.com\/m2aqldrBH0<\/a><\/p>\n

\u2014 Fatih Birol (@fbirol) July 11, 2023<\/a><\/p><\/blockquote>\n