5 Key Takeaways 

• Understanding the Criticality of Minerals and Metals: The process of assessing what makes minerals and metals critical involves a thorough evaluation of multiple factors, including geological, economic, market, social, environmental, and geopolitical considerations. This assessment helps stakeholders identify potential supply risks and opportunities.
• Importance for Energy and Digital Transitions: Critical minerals are essential for driving energy and digital transitions. They are key components in industries that are crucial for advancing renewable energy technologies and digital infrastructure, making their secure supply a priority for countries and industries.
• Supply Chain Diversification as a Risk Mitigation Strategy: To address supply chain vulnerabilities, countries and industries are actively diversifying supply sources and investing in research and development for alternative materials. This strategy is aimed at reducing dependence on single sources and mitigating the risks associated with supply bottlenecks.
• Window of Opportunity for Producing Countries: The focus on de-risking and securing supply chains presents a short-term opportunity for mineral-producing countries to position themselves as preferred suppliers. By acting strategically and engaging in partnerships, these countries can attract investments and enhance their global competitiveness.
• Proactive Approach to Maximizing Benefits: Producing countries must adopt a proactive approach to maximize the benefits of their resources. This includes scaling up production, investing in complementary assets, forming joint ventures, and establishing partnerships to strengthen their position in the critical minerals market and contribute to sustainable economic development.

Source: Intergovernmental Forum