The IEA's Critical Minerals Market Review said the main factor behind the increase was "demand from the energy sector."
Investment in the development of critical minerals increased by 30% in 2022, building upon a 20% rise in 2021, the IEA said.
If all the projects planned for the critical minerals sector come to fruition, there may be enough supply to meet climate pledges announced by governments, the IEA said.
Start-ups in the critical minerals sector raised $1.6 billion last year, a record.
The record deployment of technologies like batteries and solar PV was, the IEA said, driving "unprecedented growth in the critical minerals markets."
Persons:
John Moore
Organizations:
Getty, International Energy Agency, Investment
Locations:
Chile, Paris, China