The Critical Minerals Race to Net Zero

The global demand for critical minerals – those that are essential to the economy and whose supply may be disrupted – is expected to soar in coming years. As countries transition to low-carbon economies and high-tech industries continue to grow, rare earth elements and minerals such as aluminium, copper and cobalt have a crucial role in the development of electricity networks, electronic vehicles, renewable energy and more.

This event followed the 2023 G20 Summit in India, where the resilience of critical minerals is set to be featured, at a time when large economies such as the European Union (EU), the US and Japan are publishing their own critical mineral strategies seeking to diversify supply chains – over which China currently dominates. Speakers explored the geopolitical drivers of the race for critical minerals, discussing whether these have spurred investment in the mining sector and the opportunities this creates for resource-rich developing and emerging economies, as well as the resulting (geo)political, environmental, and social risks these countries must navigate. The event also delved into the changing approaches to risk management in an increasingly volatile global landscape where multiple threats – geopolitical volatility, economic inequality and climate change – are shaping policy and regulatory responses.

The event, hosted by ODI's Global Risks and Resilience (GRR) program, featured:

• Rebecca Nadin, Director of Global Risks and Resilience Programme, ODI (moderator)
• Fiona Blyth, British Ambassador to Mongolia 
• Olena Borodyna, Senior Transition Risk Analyst, ODI 
• Silas Olan'g, Africa Energy Transition Advisor, NRGI