A new report from the Paris-based organization, published Wednesday and entitled "The Role of Critical Minerals in Clean Energy Transitions," focuses on the importance of nickel, cobalt, lithium, copper and rare earth elements.
In a statement accompanying the report's release, the IEA outlined how much the need for these materials could increase going forward.
Rare earth elements and critical minerals, it added, were "vital to the manufacturing of batteries, magnets, and other components important to the clean energy economy."
"By acting now and acting together, they can significantly reduce the risks of price volatility and supply disruptions," he said.
The IEA's report makes six key recommendations for what it describes as a "new, comprehensive approach to mineral security."
Fatih Birol, Birol
International Energy Agency, Minerals, IEA, U.S . Department of Energy, DOE