Other minerals such as magnesium, manganese, phosphorus and silicon are all niche products but vulnerable to disruption due to a high reliance on a limited number of suppliers.ĭespite increasingly strenuous efforts by the United States and Europe to diversify supply chains, "all countries rely on a functioning global market for critical materials and related technologies," according to the International Renewable Energy Agency (IRENA). Moreover, China's move to control exports of gallium and germanium underlines the concentration of supply in a host of smaller, esoteric metals that feed into the critical minerals landscape. "The world has not yet successfully connected the dots to build diversified midstream supply chains," the IEA said. Indonesia, which has emerged as the world's largest nickel producer over the last decade, will host nearly 90% of planned nickel refining projects. "Compared with the situation three years ago, the share of the top three producers in 2022 either remains unchanged or has increased further, especially for nickel and cobalt," the IEA noted.Ĭhina, which already dominates lithium processing, accounts for half of the world's planned new lithium chemical plants.
The processing segment of the chain has actually become more concentrated as incumbent players consolidate their dominant position. What progress has been made has come largely at the mining stage of the production chain. There has been only limited success in diversifying the geographical sourcing of critical minerals in recent years, the IEA said. Production trends for nickel and cobalt LIMITED DIVERSIFICATION
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