Amidst the green energy push, a looming shortage of transition metals has been largely overlooked, despite warnings from mining experts.
A recent S&P Global report reveals considerable challenges in sourcing metals essential for achieving net zero emissions targets.
Despite subsidies boosting mining efforts, the Biden administration’s complex stance hampers local mining.
Global geopolitical dynamics add to the uncertainty, as major producers like Indonesia propose controlling metal prices. The S&P Global report suggests that government support will spur soaring demand, leading to supplier incapacity.
McKinsey projects a significant gap in nickel and rare earth metals by 2030 due to electrification.