The analysis, published on Wednesday, forecasts shortages of 20% to 50% across some rare-earth metals and minerals essential for renewables, power grids and EV batteries. The message is as clear it is old: the world needs mining.“The trading opportunity that could create resilience in materials”. McKinsey & Company, September 2023.
McKinsey’s report highlights that recycling could only account for 10% of supply for minerals such as copper, lithium, and nickel by 2040 and potential substitute materials are still nascent. Yet investors are currently reducing funding for new mining projects due to low commodities prices and long lead times for new mines, exacerbating supply chain shortages for green technologies, he noted.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: