Analysts at Wood Mackenzie estimate an additional 360 million tonnes of aluminum, 90 million tonnes of copper and 30 million tonnes of nickel will be needed over the next 20 years.
Half the world’s copper mining is controlled by just three countries, and China alone refines 40% of the metal central to the green energy transition away from fossil fuels.
To power up e-car batteries and for energy storage alone, the EU estimates it will need up to 18 times more lithium by 2030 and up to 60 times more by 2050.