London CNN —The world is facing a shortage of the minerals needed to make the electric vehicles, wind turbines, solar panels, and other clean energy technologies essential to ending its reliance on fossil fuels.
The world is on track meet only 70% of global copper demand and 50% of lithium demand by 2035, the agency added.
Prices for some critical minerals have returned to their lower pre-pandemic levels, the IEA noted, with those needed to make batteries falling particularly sharply.
However, “today’s well-supplied market may not be a good guide for the future, as demand for critical minerals continues to rise,” it added.
Concentration risksConcentration of critical minerals production in a small number of countries increases the risk of shortages, the agency warned.
Persons:
Fatih Birol, “
Organizations:
London CNN, International Energy Agency, Investment, IEA, ”
Locations:
Paris, China