Beyond Lithium: The Urgent Quest for Critical Minerals Amid Supply Chain Turmoil

As the world accelerates toward net zero emissions by 2050, critical minerals have emerged as indispensable components powering solar panels, wind turbines, electric vehicles, and battery storage. Minerals such as lithium, cobalt, nickel, and rare earth elements are vital for these clean technologies. However, supply chains face increasing strain due to geographic concentration, long mine development times, and geopolitical complexities.

China’s near-monopoly on rare earth processing and significant mining capacity adds a strategic risk, intensifying competition among nations including India, the US, and Europe to diversify sources. India has proactively responded by signing agreements with resource-rich countries such as Australia and Chile and launching a $4 billion National Critical Mineral Mission to ramp up domestic production and reduce import dependence.

Global demand for these minerals is expected to more than double by 2030, making the stability of supply chains crucial. International collaborations, recycling initiatives, and sustainable mining practices are critical to resolving supply issues and meeting clean energy targets.

Key Highlights

Critical minerals underpin key clean energy technologies vital for net zero emissions by 2050.​

Supply chains are strained by geographic concentration, long development lead times, and geopolitical risks.​

China controls nearly 90% of rare earth processing, presenting strategic vulnerabilities for global supply.​

India launches ₹34,300 crore ($4 billion) National Critical Mineral Mission and secures global partnerships to boost supply resilience.​

Demand for critical minerals expected to double or triple by 2030, requiring sustainable mining and recycling efforts.​

International cooperation through initiatives like the US-led Mineral Security Partnership and Quad essential for stable supply chains.​

Sources: Hindustan Times, World Economic Forum, Ministry of Mines India, CSEP, IEA