FIVE CRITICAL MINERALS AND METALS

FIVE CRITICAL MINERALS AND METALS: MARKET TRENDS, ROLE IN CLEAN ENERGY, AND CANADA'S POSITION IN THE GLOBAL SUPPLY CHAIN The development and implementation of new technologies are usually linked to specific materials. Currently, five minerals are driving the industry forward due to their irreplaceable role in clean energy technologies, electronics, and industrial applications on a global scale. These are Lithium, Copper, Nickel, Cobalt, and the set of Rare Earth Elements (REEs). Data from early 2025 indicates that global lithium production increased from just over 737,000 tonnes in 2022 to almost 1.2 million tonnes in 2024 (lithium carbonate equivalent, LCE). Lithium is a critical component of batteries in Electric Vehicles (EVs), smartphones, and energy storage systems. Predictions hold that by 2040, the demand might increase eightfold mainly due to the rise of EVs. Although Australia and Chile lead in lithium production, China dominates refining operations. Copper, an essenti...