Total demand for lithium, copper, cobalt, nickel and neodymium

Stated policies
2022 2025 2030

Copper
Solar PV 682 779 907
Wind 394 428 646
Other low emissions power generation 85 69 108
Electric vehicles 373 580 1044
Grid battery storage 20 38 83
Electricity networks 4182 4579 6510
Hydrogen technologies 0 0 0
Total clean technologies 5736 6473 9298
Other uses 19766 20282 21550
Total demand 25502 26755 30848
Share of clean technologies in total demand 22% 24% 30%

Cobalt
Low emissions power generation 0 0 0
Electric vehicles 65 66 74
Grid battery storage 4 3 5
Hydrogen technologies 0 0 0
Total clean technologies 68 69 79
Other uses 103 139 157
Total demand 171 208 236
Share of clean technologies in total demand 40% 33% 34%

Lithium
Electric vehicles 70 123 228
Grid battery storage 3 6 12
Total clean technologies 73 129 240
Other uses 57 70 79
Total demand 130 199 319
Share of clean technologies in total demand 56% 65% 75%
Nickel
Solar PV 0 0 0
Wind 37 39 50
Other low emissions power generation 83 167 318
Electric vehicles 326 614 988
Grid battery storage 9 9 19
Hydrogen technologies 2 2 5
Total clean technologies 457 831 1381
Other uses 2477 2433 2520
Total demand 2934 3264 3901
Share of clean technologies in total demand 16% 25% 35%

Neodymium
Wind 6 6 10
Electric vehicles 4 7 12
Total clean technologies 10 14 22
Other uses 40 44 51
Total demand 50 58 73
Share of clean technologies in total demand 20% 24% 31%
and neodymium (kt)

Stated policies scenario Announced pledges scen

2035 2040 2045 2050 2025 2030 2035

925 959 1122 1262 923 1177 1369

595 532 639 721 541 885 984
87 85 110 117 79 141 155
1219 1421 1458 1346 689 1592 2570
154 225 238 220 52 130 230
6511 6582 7113 6982 4945 7440 8394
0 0 0 0 0 0 0
9491 9805 10681 10648 7229 11364 13703
22048 23359 25108 25706 19908 20706 20627
31539 33164 35789 36354 27137 32070 34330
30% 30% 30% 29% 27% 35% 40%

0 0 0 0 0 0 0
78 105 134 146 77 113 159
6 5 2 0 4 9 9
0 0 0 0 0 0 0
84 110 136 146 82 122 169
173 190 206 222 144 163 179
257 300 342 368 226 285 348
33% 37% 40% 40% 36% 43% 49%

325 433 491 466 145 349 671

20 27 28 25 8 19 30
346 460 518 490 153 368 702
87 95 104 113 74 83 92
433 555 622 603 227 451 794
80% 83% 83% 81% 67% 82% 88%
 0 0 0 0 0 0 1
49 46 56 61 49 72 80
267 459 236 220 216 486 427
1215 1516 1615 1580 709 1498 2441
26 21 13 0 12 30 39
4 4 4 6 19 45 43
1561 2046 1925 1867 1005 2132 3030
2607 2715 2844 2982 2417 2398 2421
4168 4761 4769 4849 3422 4530 5451
37% 43% 40% 39% 29% 47% 56%

9 8 10 11 8 13 15
15 19 22 23 8 18 30
24 27 32 34 16 31 45
54 56 58 60 44 51 54
78 83 90 94 60 82 99
31% 32% 35% 36% 27% 38% 45%
nced pledges scenario Net Zero Emissions by 2050 scenario
2040 2045 2050 2025 2030 2035 2040

1392 1621 1811 1259 1990 2063 2026

990 996 1107 705 1630 1543 1328
149 160 160 93 225 228 180
3135 3241 3307 1152 2704 3799 3884
376 413 444 77 258 441 685
9059 9466 8887 5024 8924 11445 12574
0 0 0 0 0 0 0
15100 15897 15717 8310 15732 19519 20678
21772 23179 24023 19563 19881 19215 20218
36872 39076 39740 27873 35613 38734 40896
41% 41% 40% 30% 44% 50% 51%

0 0 0 0 0 0 0
213 258 296 130 188 231 244
8 4 0 6 17 18 14
0 0 0 0 0 0 0
221 262 296 137 205 249 259
196 213 229 144 163 179 196
417 475 525 281 368 428 455
53% 55% 56% 49% 56% 58% 57%

907 1006 1039 243 592 985 1106

45 48 50 11 37 58 82
952 1053 1089 254 628 1044 1187
101 111 120 82 93 103 113
1053 1164 1209 336 721 1147 1300
90% 90% 90% 76% 87% 91% 91%
 1 1 1 0 1 1 1
82 80 88 66 138 129 102
561 346 461 382 724 595 634
3040 3139 3273 1157 2414 3392 3451
35 23 0 18 60 74 65
46 47 61 36 115 118 93
3765 3635 3883 1659 3452 4309 4345
2467 2538 2625 2375 2363 2349 2357
6232 6173 6508 4034 5815 6658 6702
60% 59% 60% 41% 59% 65% 65%

15 15 16 10 24 22 19
39 44 49 13 26 35 34
54 59 65 23 50 57 53
56 58 60 44 51 54 56
110 117 125 67 101 111 109
49% 50% 52% 34% 50% 51% 49%
by 2050 scenario
2045 2050

1674 1880
881 1303
148 142
3897 3583
734 665
11757 9778
0 0
19092 17351
21269 22382
40361 39733
47% 44%

0 0
278 291
7 0
0 0
285 291
213 229
498 520
57% 56%

1173 1104
85 74
1258 1178
124 135
1382 1313
91% 90%
 1 1
71 104
346 283
3444 3289
40 0
64 87
3966 3764
2388 2432
6354 6196
62% 61%

12 18
37 37
49 55
58 60
107 115
46% 48%
Mineral demand for solar PV (kt)

Stated policies
2022 2025 2030

Comeback of high Cd-Te technology

Cadmium 0.50 0.69 1.06
Copper 681.66 778.99 907.34
Gallium 0.01 0.02 0.11
Germanium 0.01 0.02 0.02
Indium 0.05 0.07 0.11
Lead 1.15 1.29 1.44
Molybdenum 0.20 0.33 0.57
Nickel 0.25 0.28 0.31
Selenium 0.11 0.16 0.21
Silicon 745.46 773.92 745.70
Silver 3.78 3.86 3.61
Tellurium 0.52 0.71 1.06
Tin 1.20 1.38 1.64
Zinc 6.06 6.95 8.28
Arsenic 0.00 0.00 0.19
Total solar PV 1440.94 1568.66 1671.63

Wider adoption of Ga-As technology

Cadmium 0.40 0.40 0.35
Copper 681.65 778.95 907.25
Gallium 0.21 1.17 3.07
Germanium 0.01 0.01 0.01
Indium 0.04 0.07 0.09
Lead 1.16 1.33 1.58
Molybdenum 0.17 0.23 0.26
Nickel 0.25 0.29 0.34
Selenium 0.09 0.11 0.10
Silicon 755.06 805.25 842.60
Silver 3.82 4.02 4.08
Tellurium 0.42 0.41 0.35
Tin 1.20 1.38 1.64
Zinc 6.06 6.95 8.28
Arsenic 0.50 2.90 7.65
Total solar PV 1451.04 1603.49 1777.64

Wider adoption of perovskite solar cells

Cadmium 0.41 0.41 0.37
Copper 681.65 778.97 907.30
Gallium 0.01 0.02 0.10
Germanium 0.01 0.02 0.02
Indium 0.04 0.05 0.08
Lead 1.16 1.33 1.83
Molybdenum 0.17 0.25 0.40
Nickel 0.25 0.29 0.34
Selenium 0.09 0.12 0.15
Silicon 754.33 802.47 810.18
Silver 3.82 4.00 4.02
Tellurium 0.42 0.42 0.37
Tin 1.20 1.38 1.64
Zinc 6.06 6.95 8.28
Arsenic 0.00 0.00 0.19
Total solar PV 1449.64 1596.70 1735.26

Base case
Cadmium 0.41 0.41 0.37
Copper 681.65 778.95 907.25
Gallium 0.01 0.01 0.09
Germanium 0.01 0.01 0.01
Indium 0.03 0.04 0.04
Lead 1.16 1.33 1.58
Molybdenum 0.14 0.18 0.21
Nickel 0.25 0.29 0.34
Selenium 0.08 0.08 0.08
Silicon 756.33 807.81 843.16
Silver 3.83 4.03 4.08
Tellurium 0.42 0.42 0.37
Tin 1.20 1.38 1.64
Zinc 6.06 6.95 8.28
Arsenic 0.00 0.00 0.19
Total solar PV 1451.58 1601.91 1767.69
Stated policies scenario Announced pledges scen
2035 2040 2045 2050 2025 2030 2035

1.32 1.70 1.95 2.19 0.82 1.38 1.91

924.90 958.90 1122.26 1261.97 923.18 1176.79 1369.54
0.47 2.59 3.00 3.39 0.02 0.14 0.72
0.02 0.02 0.02 0.02 0.02 0.03 0.03
0.14 0.19 0.23 0.26 0.08 0.11 0.16
1.39 1.36 1.54 1.85 1.54 1.89 2.10
0.72 0.92 1.17 1.41 0.39 0.72 1.00
0.30 0.29 0.33 0.36 0.33 0.41 0.45
0.24 0.27 0.30 0.30 0.18 0.27 0.35
685.52 629.89 668.22 674.16 920.54 978.62 1027.70
2.86 2.17 1.78 1.24 4.56 4.63 4.09
1.27 1.55 1.67 1.71 0.85 1.41 1.90
1.67 1.76 2.04 2.31 1.64 2.16 2.53
8.44 8.88 10.28 11.62 8.27 10.90 12.74
1.08 6.38 7.39 8.35 0.00 0.25 1.68
1630.34 1616.89 1822.17 1971.13 1862.43 2179.71 2426.89

0.35 0.37 0.41 0.43 0.47 0.45 0.50

924.80 958.76 1122.05 1261.65 923.14 1176.66 1369.37
3.95 6.00 7.66 9.95 1.42 4.33 6.52
0.01 0.01 0.01 0.01 0.02 0.02 0.02
0.09 0.11 0.13 0.15 0.07 0.10 0.13
1.61 1.69 1.95 2.21 1.59 2.09 2.43
0.22 0.20 0.16 0.12 0.27 0.31 0.30
0.35 0.37 0.42 0.48 0.34 0.45 0.53
0.07 0.06 0.04 0.03 0.13 0.12 0.10
825.96 833.03 925.37 1001.70 957.88 1107.50 1238.23
3.44 2.87 2.46 1.81 4.75 5.25 4.94
0.34 0.34 0.35 0.34 0.49 0.46 0.50
1.67 1.76 2.04 2.31 1.64 2.16 2.53
8.44 8.88 10.28 11.62 8.27 10.90 12.74
9.87 15.01 19.17 24.91 3.53 10.82 16.29
1781.17 1829.45 2092.49 2317.71 1904.02 2321.62 2655.12

0.38 0.40 0.45 0.49 0.49 0.48 0.55

924.85 958.81 1122.12 1261.74 923.17 1176.73 1369.45
0.45 2.56 2.96 3.35 0.02 0.13 0.70
0.04 0.07 0.04 0.03 0.02 0.03 0.05
0.07 0.09 0.09 0.09 0.06 0.08 0.09
2.04 2.52 2.87 3.25 1.58 2.42 3.13
0.36 0.33 0.32 0.32 0.30 0.50 0.50
0.35 0.36 0.42 0.47 0.34 0.45 0.52
0.12 0.10 0.08 0.07 0.14 0.19 0.17
773.81 736.43 811.64 861.68 954.59 1063.79 1158.46
3.38 2.81 2.41 1.77 4.73 5.17 4.86
0.36 0.37 0.38 0.38 0.51 0.49 0.55
1.67 1.76 2.04 2.31 1.64 2.16 2.53
8.44 8.88 10.28 11.62 8.27 10.90 12.74
1.08 6.38 7.39 8.35 0.00 0.25 1.68
1717.40 1721.87 1963.49 2155.92 1895.87 2263.78 2555.96

0.38 0.40 0.45 0.49 0.49 0.48 0.55

924.80 958.77 1122.06 1261.66 923.15 1176.67 1369.37
0.44 2.56 2.96 3.34 0.01 0.12 0.68
0.01 0.01 0.01 0.01 0.01 0.01 0.01
0.05 0.07 0.08 0.08 0.04 0.04 0.05
1.60 1.68 1.94 2.20 1.58 2.08 2.42
0.22 0.23 0.24 0.25 0.21 0.26 0.30
0.35 0.36 0.42 0.47 0.34 0.45 0.52
0.07 0.07 0.06 0.05 0.10 0.10 0.10
823.27 828.00 915.71 986.84 960.96 1108.68 1236.39
3.43 2.85 2.44 1.79 4.76 5.25 4.92
0.36 0.37 0.38 0.38 0.51 0.49 0.55
1.67 1.76 2.04 2.31 1.64 2.16 2.53
8.44 8.88 10.28 11.62 8.27 10.90 12.74
1.08 6.38 7.39 8.35 0.00 0.25 1.68
1766.18 1812.39 2066.46 2279.83 1902.07 2307.94 2632.81
nced pledges scenario Net Zero Emissions by 2050 scenario
2040 2045 2050 2025 2030 2035 2040

2.28 2.51 2.55 1.28 3.45 3.84 3.94

1392.63 1620.91 1811.77 1258.82 1990.53 2062.77 2026.67
3.94 4.61 5.18 0.03 0.24 1.08 5.59
0.02 0.02 0.02 0.03 0.07 0.05 0.04
0.24 0.30 0.36 0.12 0.27 0.32 0.41
2.01 2.27 2.70 2.15 3.27 3.20 2.94
1.20 1.46 1.69 0.53 1.20 1.44 1.63
0.43 0.49 0.53 0.47 0.71 0.69 0.64
0.38 0.40 0.37 0.27 0.57 0.62 0.62
916.79 970.03 954.16 1334.92 1883.38 1701.44 1417.05
2.90 2.16 1.14 6.38 8.00 6.16 4.09
2.21 2.32 2.21 1.33 3.59 4.00 4.10
2.60 3.02 3.36 2.30 3.76 3.87 3.81
13.09 15.22 16.96 11.58 18.97 19.50 19.22
9.72 11.41 12.83 0.00 0.44 2.51 13.81
2350.43 2637.12 2815.83 2620.22 3918.44 3811.49 3504.55

0.50 0.52 0.50 0.73 1.10 1.00 0.85

1392.41 1620.57 1811.28 1258.75 1990.29 2062.49 2026.34
9.42 12.54 15.92 2.21 8.19 10.24 13.63
0.01 0.01 0.01 0.02 0.03 0.03 0.02
0.17 0.20 0.23 0.11 0.21 0.23 0.25
2.48 2.89 3.23 2.22 3.63 3.72 3.65
0.25 0.19 0.14 0.35 0.48 0.42 0.34
0.54 0.62 0.69 0.48 0.79 0.81 0.79
0.08 0.05 0.03 0.18 0.23 0.18 0.13
1209.58 1338.11 1410.55 1391.45 2141.60 2053.64 1869.58
3.83 2.99 1.67 6.65 9.11 7.46 5.40
0.48 0.48 0.44 0.76 1.14 1.04 0.89
2.60 3.02 3.36 2.30 3.76 3.87 3.81
13.09 15.22 16.96 11.58 18.97 19.50 19.22
23.57 31.40 39.87 5.49 20.46 25.61 34.12
2659.00 3028.82 3304.89 2683.30 4200.00 4190.24 3979.03

0.54 0.58 0.57 0.76 1.19 1.10 0.93

1392.50 1620.68 1811.42 1258.79 1990.43 2062.62 2026.46
3.90 4.57 5.13 0.02 0.22 1.04 5.54
0.09 0.05 0.03 0.03 0.07 0.11 0.16
0.12 0.13 0.14 0.09 0.18 0.17 0.20
3.78 4.38 4.84 2.22 4.28 4.85 5.61
0.44 0.43 0.40 0.41 0.83 0.73 0.61
0.54 0.62 0.69 0.48 0.78 0.80 0.79
0.14 0.12 0.09 0.21 0.40 0.32 0.23
1069.03 1175.68 1223.05 1385.29 2049.23 1915.77 1649.38
3.74 2.93 1.63 6.62 8.97 7.32 5.28
0.52 0.53 0.50 0.79 1.24 1.15 0.97
2.60 3.02 3.36 2.30 3.76 3.87 3.81
13.09 15.22 16.96 11.58 18.97 19.50 19.22
9.72 11.41 12.83 0.00 0.44 2.51 13.81
2500.74 2840.35 3081.65 2669.60 4080.99 4021.84 3733.00

0.54 0.58 0.57 0.76 1.19 1.10 0.93

1392.42 1620.57 1811.29 1258.76 1990.30 2062.50 2026.35
3.89 4.56 5.13 0.02 0.20 1.02 5.53
0.01 0.01 0.01 0.02 0.02 0.02 0.02
0.10 0.11 0.12 0.06 0.09 0.10 0.15
2.47 2.88 3.20 2.22 3.61 3.70 3.63
0.29 0.29 0.28 0.28 0.41 0.42 0.40
0.54 0.62 0.69 0.48 0.78 0.80 0.79
0.09 0.08 0.06 0.14 0.19 0.18 0.15
1205.98 1331.55 1402.03 1394.58 2141.30 2049.79 1863.99
3.80 2.96 1.65 6.67 9.10 7.42 5.37
0.52 0.53 0.50 0.79 1.24 1.15 0.97
2.60 3.02 3.36 2.30 3.76 3.87 3.81
13.09 15.22 16.96 11.58 18.97 19.50 19.22
9.72 11.41 12.83 0.00 0.44 2.51 13.81
2636.06 2994.39 3258.67 2678.66 4171.61 4154.08 3945.12
by 2050 scenario
2045 2050

2.51 1.84
1674.03 1880.26
4.54 5.06
0.02 0.01
0.33 0.35
2.33 2.78
1.39 1.55
0.50 0.54
0.43 0.33
1011.15 957.34
2.00 0.83
2.61 1.91
3.10 3.46
15.61 17.46
11.22 12.54
2731.77 2886.27

0.52 0.36
1673.69 1879.77
12.13 15.26
0.01 0.01
0.20 0.23
2.97 3.32
0.19 0.13
0.64 0.71
0.06 0.03
1394.65 1413.70
2.77 1.21
0.54 0.38
3.10 3.46
15.61 17.46
30.37 38.22
3137.44 3374.25

0.58 0.41
1673.80 1879.91
4.49 5.02
0.06 0.03
0.14 0.13
4.45 4.94
0.40 0.36
0.64 0.71
0.12 0.08
1226.59 1226.35
2.71 1.18
0.60 0.43
3.10 3.46
15.61 17.46
11.22 12.54
2944.51 3153.01

0.58 0.41
1673.70 1879.78
4.49 5.02
0.01 0.01
0.11 0.11
2.95 3.30
0.28 0.26
0.64 0.71
0.09 0.06
1387.86 1405.65
2.74 1.19
0.60 0.43
3.10 3.46
15.61 17.46
11.22 12.54
3103.97 3330.39
Mineral demand for wind (kt)

Stated policies
2022 2025 2030

Constrained rare earth elements supply

Boron 0.15 0.14 0.21
Chromium 50.33 54.23 72.97
Copper 396.41 434.13 651.32
Manganese 80.00 86.06 114.22
Molybdenum 10.53 11.35 15.24
Nickel 36.63 39.48 51.51
Zinc 561.03 603.42 799.39
Neodymium 5.47 5.38 7.73
Dysprosium 0.60 0.61 0.87
Praseodymium 0.89 0.87 1.31
Terbium 0.21 0.23 0.35
Total wind 1142.25 1235.90 1715.10

Base case
Boron 0.16 0.18 0.31
Chromium 50.32 54.18 72.68
Copper 393.79 427.77 646.33
Manganese 80.00 86.05 114.16
Molybdenum 10.53 11.34 15.18
Nickel 36.54 39.19 49.98
Zinc 561.03 603.42 799.39
Neodymium 5.81 6.27 10.21
Dysprosium 0.63 0.68 1.06
Praseodymium 0.95 1.04 1.81
Terbium 0.22 0.24 0.40
Total wind 1139.96 1230.34 1711.51
Stated policies scenario Announced pledges scen
2035 2040 2045 2050 2025 2030 2035

0.17 0.13 0.14 0.16 0.18 0.27 0.28

70.71 65.64 80.77 89.18 67.70 103.73 115.89
601.02 537.92 642.50 727.50 548.86 897.02 992.39
111.03 103.25 127.36 140.63 107.31 163.07 181.88
14.77 13.72 16.88 18.64 14.16 21.67 24.21
50.83 47.79 59.30 64.58 49.09 74.18 83.21
777.40 723.09 892.28 985.18 752.29 1141.95 1273.41
6.36 5.14 5.62 6.23 6.86 9.97 10.32
0.74 0.62 0.71 0.78 0.78 1.16 1.23
1.06 0.84 0.91 1.07 1.13 1.68 1.75
0.31 0.27 0.32 0.38 0.29 0.47 0.51
1634.40 1498.42 1826.79 2034.34 1548.64 2415.16 2685.08

0.29 0.26 0.33 0.41 0.23 0.41 0.48

70.68 65.87 81.29 90.07 67.62 103.37 115.82
595.26 532.29 639.01 720.63 541.45 884.64 983.67
111.02 103.29 127.46 140.79 107.30 163.00 181.87
14.76 13.76 16.98 18.80 14.15 21.61 24.19
49.16 46.04 56.49 61.15 48.69 72.34 80.41
777.40 723.09 892.28 985.18 752.29 1141.95 1273.41
9.14 8.03 9.76 11.33 7.98 13.35 14.74
0.96 0.85 1.03 1.19 0.86 1.42 1.58
1.62 1.44 1.79 2.17 1.34 2.36 2.68
0.37 0.34 0.43 0.52 0.30 0.53 0.61
1630.66 1495.25 1826.85 2032.25 1542.20 2404.99 2679.46
nced pledges scenario Net Zero Emissions by 2050 scenario
2040 2045 2050 2025 2030 2035 2040

0.26 0.26 0.28 0.22 0.46 0.42 0.39

118.29 117.58 130.42 90.87 195.35 184.33 150.30
994.82 989.94 1107.55 716.51 1659.05 1561.18 1322.66
185.52 184.10 204.61 144.42 307.86 289.85 234.41
24.71 24.55 27.24 19.02 40.83 38.51 31.37
85.51 84.83 93.33 66.49 140.74 133.04 107.17
1298.77 1288.60 1432.49 1012.79 2156.63 2029.87 1639.86
9.55 9.11 9.57 8.62 17.60 15.49 12.97
1.17 1.13 1.21 0.99 2.10 1.89 1.58
1.63 1.59 1.76 1.40 2.96 2.66 2.33
0.50 0.50 0.59 0.37 0.86 0.80 0.68
2720.71 2702.20 3009.06 2061.70 4524.45 4258.04 3503.71

0.49 0.54 0.64 0.28 0.73 0.73 0.69

118.56 117.98 131.38 90.78 194.75 184.31 150.32
989.66 996.41 1107.38 704.91 1630.04 1542.65 1327.88
185.57 184.18 204.78 144.40 307.75 289.85 234.41
24.76 24.62 27.42 19.00 40.72 38.51 31.37
81.99 79.92 87.64 66.06 137.63 128.91 101.85
1298.77 1288.60 1432.49 1012.79 2156.63 2029.87 1639.86
14.57 14.82 16.38 10.09 23.77 22.18 19.13
1.58 1.61 1.80 1.10 2.59 2.45 2.13
2.73 2.92 3.40 1.68 4.22 4.11 3.79
0.63 0.69 0.81 0.38 0.96 0.94 0.87
2719.31 2712.28 3014.13 2051.49 4499.79 4244.51 3512.31
by 2050 scenario
2045 2050

0.22 0.32
104.12 153.86
877.02 1306.18
163.18 241.67
21.74 32.14
75.29 110.41
1142.29 1692.20
7.60 10.42
0.98 1.40
1.37 2.01
0.44 0.68
2394.26 3551.29

0.47 0.75
104.52 155.08
881.42 1303.25
163.25 241.89
21.82 32.36
71.03 103.89
1142.29 1692.20
12.23 17.55
1.40 2.07
2.54 3.92
0.60 0.94
2401.58 3553.90
Mineral demand for electric vehicles (kt)

Stated policies
2022 2025 2030

Constrained nickel supply

Copper 381.17 616.90 1389.20
Cobalt 63.46 61.21 38.03
Graphite 557.20 935.67 1590.25
Lithium 69.64 122.57 218.66
Manganese 74.50 53.86 156.02
Nickel 313.15 553.73 512.64
Silicon 8.70 40.50 138.52
Neodymium 3.96 7.25 12.22
Dysprosium 0.41 0.74 1.21
Praseodymium 0.59 1.09 1.83
Terbium 0.08 0.15 0.25
Total EV 1472.86 2393.67 4058.83

Wider use of silicon-rich anodes

Copper 373.33 579.79 1044.14
Cobalt 64.56 66.37 73.94
Graphite 557.20 935.67 1542.70
Lithium 69.74 123.04 242.38
Manganese 75.37 57.89 152.36
Nickel 325.83 613.86 988.05
Silicon 8.70 40.50 119.81
Neodymium 3.96 7.25 12.22
Dysprosium 0.41 0.74 1.21
Praseodymium 0.59 1.09 1.83
Terbium 0.08 0.15 0.25
Total EV 1479.78 2426.35 4178.88

Faster uptake of solid state batteries

Copper 373.33 579.79 1044.14
Cobalt 64.56 66.37 73.94
Graphite 557.20 935.67 1542.70
Lithium 69.74 123.04 242.38
Manganese 75.37 57.89 152.36
Nickel 325.83 613.86 988.05
Silicon 8.70 40.50 119.81
Neodymium 3.96 7.25 12.22
Dysprosium 0.41 0.74 1.21
Praseodymium 0.59 1.09 1.83
Terbium 0.08 0.15 0.25
Total EV 1479.78 2426.35 4178.88

Lower battery sizes

Copper 373.31 579.65 1043.53
Cobalt 64.56 66.36 73.91
Graphite 557.18 935.49 1589.42
Lithium 69.74 123.02 227.89
Manganese 75.37 57.88 152.31
Nickel 325.82 613.81 987.77
Silicon 8.70 40.49 138.49
Neodymium 3.96 7.25 12.22
Dysprosium 0.41 0.74 1.21
Praseodymium 0.59 1.09 1.83
Terbium 0.08 0.15 0.25
Total EV 1479.73 2425.94 4228.81

Limited battery size reduction

Copper 373.33
Cobalt 64.56
Graphite 557.20
Lithium 69.74
Manganese 75.37
Nickel 325.83
Silicon 8.70
Neodymium 3.96
Dysprosium 0.41
Praseodymium 0.59
Terbium 0.08
Total EV 1479.78

STEPS - Base case

Copper 373.33 579.79 1044.14
Cobalt 64.56 66.37 73.94
Graphite 557.20 935.67 1590.25
Lithium 69.74 123.04 228.01
Manganese 75.37 57.89 152.36
Nickel 325.83 613.86 988.05
Silicon 8.70 40.50 138.52
Neodymium 3.96 7.25 12.22
Dysprosium 0.41 0.74 1.21
Praseodymium 0.59 1.09 1.83
Terbium 0.08 0.15 0.25
Total EV 1479.78 2426.35 4230.77
Stated policies scenario Announced pledges scen
2035 2040 2045 2050 2025 2030 2035

1736.44 2233.21 2418.13 2312.84 731.76 2112.87 3586.64

29.06 35.39 40.93 47.43 71.15 58.40 61.80
1781.78 1690.57 1491.75 1077.40 1100.86 2436.53 3703.06
307.06 407.44 449.84 412.70 144.67 335.39 635.37
336.18 533.47 712.17 858.34 62.64 235.89 669.00
588.53 629.84 692.05 687.67 639.33 780.15 1204.73
224.22 351.99 374.07 373.49 46.65 208.79 442.16
15.13 18.85 21.80 22.88 8.40 17.63 30.26
1.48 1.84 2.13 2.23 0.86 1.74 2.96
2.27 2.83 3.27 3.43 1.26 2.65 4.54
0.31 0.39 0.45 0.47 0.17 0.36 0.63
5022.47 5905.81 6206.58 5798.87 2807.76 6190.41 10341.15

1219.21 1421.16 1457.66 1345.87 688.68 1591.93 2570.40

77.67 105.31 133.99 145.61 77.49 112.92 159.35
1524.43 1195.56 778.51 318.76 1100.86 2364.75 3201.91
329.67 432.41 483.98 465.84 145.26 371.25 680.54
298.06 521.47 801.58 993.94 67.68 231.47 595.16
1214.57 1515.79 1615.17 1579.68 709.34 1497.55 2440.73
277.78 492.02 637.10 718.64 46.65 180.38 543.05
15.13 18.85 21.80 22.88 8.40 17.63 30.26
1.48 1.84 2.13 2.23 0.86 1.74 2.96
2.27 2.83 3.27 3.43 1.26 2.65 4.54
0.31 0.39 0.45 0.47 0.17 0.36 0.63
4960.59 5707.62 5935.64 5597.37 2846.66 6372.63 10229.52

1219.21 1421.16 1457.66 1345.87 688.68 1591.93 2570.40

77.67 105.31 133.99 145.61 77.49 112.92 159.35
1761.76 1734.98 1498.47 919.35 1100.86 2364.75 3652.86
 336.13 448.44 503.49 465.84 145.26 371.25 694.84
298.06 521.47 801.58 993.94 67.68 231.47 595.16
1214.57 1515.79 1615.17 1579.68 709.34 1497.55 2440.73
198.18 269.94 254.85 173.43 46.65 180.38 386.63
15.13 18.85 21.80 22.88 8.40 17.63 30.26
1.48 1.84 2.13 2.23 0.86 1.74 2.96
2.27 2.83 3.27 3.43 1.26 2.65 4.54
0.31 0.39 0.45 0.47 0.17 0.36 0.63
5124.78 6041.00 6292.85 5652.74 2846.66 6372.63 10538.35

1218.17 1419.79 1456.00 1343.83 688.45 1590.61 2565.59

77.62 105.25 133.90 145.49 77.47 112.84 159.11
1780.44 1689.09 1490.22 1075.84 1100.56 2434.70 3696.68
325.11 432.86 490.39 465.23 145.22 349.19 670.18
297.94 521.25 801.14 993.13 67.67 231.35 594.61
1214.04 1515.05 1614.14 1578.24 709.25 1496.90 2438.20
224.15 351.84 373.83 373.10 46.65 208.72 441.85
15.13 18.85 21.80 22.88 8.40 17.63 30.26
1.48 1.84 2.13 2.23 0.86 1.74 2.96
2.27 2.83 3.27 3.43 1.26 2.65 4.54
0.31 0.39 0.45 0.47 0.17 0.36 0.63
5156.67 6059.02 6387.27 6003.87 2845.95 6446.70 10604.61

1219.21 1421.16 1457.66 1345.87 688.68 1591.93 2570.40

 77.67 105.31 133.99 145.61 77.49 112.92 159.35
1781.78 1690.57 1491.75 1077.40 1100.86 2436.53 3703.06
325.35 433.21 490.86 465.84 145.26 349.47 671.27
298.06 521.47 801.58 993.94 67.68 231.47 595.16
1214.57 1515.79 1615.17 1579.68 709.34 1497.55 2440.73
224.22 351.99 374.07 373.49 46.65 208.79 442.16
15.13 18.85 21.80 22.88 8.40 17.63 30.26
1.48 1.84 2.13 2.23 0.86 1.74 2.96
2.27 2.83 3.27 3.43 1.26 2.65 4.54
0.31 0.39 0.45 0.47 0.17 0.36 0.63
5160.06 6063.40 6392.72 6010.85 2846.66 6451.03 10620.52
nced pledges scenario Net Zero Emissions by 2050 scenario
2040 2045 2050 2025 2030 2035 2040

4701.54 5004.50 5200.98 1223.91 3530.24 5156.80 5537.20

74.43 83.86 104.22 117.78 99.17 93.81 91.47
3611.27 3136.32 2485.77 1844.36 4114.97 5486.07 4540.40
856.81 930.09 935.54 241.51 569.44 937.43 1051.48
1050.17 1343.23 1733.64 102.60 377.28 912.71 1147.37
1313.24 1414.06 1507.34 1038.27 1278.29 1723.92 1591.17
691.56 718.74 786.08 74.54 328.75 594.71 755.77
39.49 44.31 48.73 12.97 26.31 35.01 33.93
3.87 4.34 4.79 1.33 2.61 3.45 3.35
5.92 6.65 7.31 1.95 3.95 5.25 5.09
0.82 0.92 1.01 0.27 0.54 0.72 0.70
12349.12 12687.02 12815.41 4659.47 10331.54 14949.89 14757.93

3134.77 3241.24 3306.83 1152.05 2703.91 3799.47 3883.62

212.58 257.85 295.69 130.42 187.99 230.83 243.97
2676.42 1874.53 1112.13 1844.36 4001.55 4836.63 3594.68
906.89 993.92 1039.49 242.70 626.66 998.82 1108.37
1028.01 1508.40 1997.33 112.90 377.93 816.39 1126.13
3040.23 3138.78 3272.53 1157.04 2414.37 3391.95 3450.65
949.68 1176.51 1424.57 74.54 282.63 718.49 1002.90
39.49 44.31 48.73 12.97 26.31 35.01 33.93
3.87 4.34 4.79 1.33 2.61 3.45 3.35
5.92 6.65 7.31 1.95 3.95 5.25 5.09
0.82 0.92 1.01 0.27 0.54 0.72 0.70
11998.68 12247.45 12510.41 4730.52 10628.45 14837.01 14453.39

3134.77 3241.24 3306.83 1152.05 2703.91 3799.47 3883.62

212.58 257.85 295.69 130.42 187.99 230.83 243.97
3707.05 3196.76 2295.35 1844.36 4001.55 5398.99 4660.66
 939.71 1031.65 1039.49 242.70 626.66 1022.55 1146.94
1028.01 1508.40 1997.33 112.90 377.93 816.39 1126.13
3040.23 3138.78 3272.53 1157.04 2414.37 3391.95 3450.65
516.42 460.69 329.74 74.54 282.63 508.73 535.87
39.49 44.31 48.73 12.97 26.31 35.01 33.93
3.87 4.34 4.79 1.33 2.61 3.45 3.35
5.92 6.65 7.31 1.95 3.95 5.25 5.09
0.82 0.92 1.01 0.27 0.54 0.72 0.70
12628.87 12891.59 12598.79 4730.52 10628.45 15213.34 15090.92

3127.03 3230.06 3293.60 1063.40 2318.56 3296.98 3442.87

212.26 257.37 295.10 116.52 152.38 189.94 201.81
3602.71 3126.24 2476.34 1657.58 3361.27 4540.83 3853.10
905.14 1002.81 1036.02 218.74 485.80 817.03 933.85
1026.86 1506.14 1993.67 101.84 305.43 662.58 921.67
3036.05 3132.47 3265.00 1034.05 1939.53 2747.20 2836.60
690.81 717.41 784.10 66.78 263.40 479.23 616.87
39.49 44.31 48.73 12.97 26.31 35.01 33.93
3.87 4.34 4.79 1.33 2.61 3.45 3.35
5.92 6.65 7.31 1.95 3.95 5.25 5.09
0.82 0.92 1.01 0.27 0.54 0.72 0.70
12650.95 13028.72 13205.66 4275.41 8859.77 12778.22 12849.85

1189.69 2954.28 4234.78 4406.58

137.09 213.22 272.11 304.38
1939.56 4639.46 6389.99 5423.99
255.35 666.90 1154.61 1339.01
118.27 430.60 986.63 1432.32
1232.22 2780.70 4084.36 4330.71
80.03 383.33 729.96 965.67
12.97 26.31 35.01 33.93
1.33 2.61 3.45 3.35
1.95 3.95 5.25 5.09
0.27 0.54 0.72 0.70
4968.72 12101.90 17896.87 18245.73

3134.77 3241.24 3306.83 1152.05 2703.91 3799.47 3883.62

 212.58 257.85 295.69 130.42 187.99 230.83 243.97
3611.27 3136.32 2485.77 1844.36 4114.97 5486.07 4540.40
907.05 1005.67 1039.49 242.70 591.56 985.44 1105.55
1028.01 1508.40 1997.33 112.90 377.93 816.39 1126.13
3040.23 3138.78 3272.53 1157.04 2414.37 3391.95 3450.65
691.56 718.74 786.08 74.54 328.75 594.71 755.77
39.49 44.31 48.73 12.97 26.31 35.01 33.93
3.87 4.34 4.79 1.33 2.61 3.45 3.35
5.92 6.65 7.31 1.95 3.95 5.25 5.09
0.82 0.92 1.01 0.27 0.54 0.72 0.70
12675.56 13063.22 13245.55 4730.52 10752.88 15349.29 15149.17
by 2050 scenario
2045 2050

5666.33 5358.64
99.26 112.31
3786.42 2726.08
1097.31 1006.90
1398.99 1682.82
1666.46 1609.32
771.63 795.03
36.66 37.46
3.62 3.71
5.50 5.62
0.76 0.77
14532.94 13338.67

3897.36 3582.92
278.21 290.56
2573.53 1511.94
1163.70 1104.01
1566.12 1926.73
3444.45 3289.20
1184.80 1344.76
36.66 37.46
3.62 3.71
5.50 5.62
0.76 0.77
14154.72 13097.68

3897.36 3582.92
278.21 290.56
3881.71 2580.60
 1204.42 1104.01
1566.12 1926.73
3444.45 3289.20
450.69 300.06
36.66 37.46
3.62 3.71
5.50 5.62
0.76 0.77
14769.51 13121.64

3548.86 3307.87
233.90 244.93
3297.65 2402.48
1013.60 963.73
1304.82 1619.01
2906.11 2794.95
648.80 680.05
36.66 37.46
3.62 3.71
5.50 5.62
0.76 0.77
13000.28 12060.59

4410.83 4025.43
354.53 373.90
4568.50 3284.56
1435.24 1350.31
2025.39 2491.56
4360.84 4184.23
984.13 1002.20
36.66 37.46
3.62 3.71
5.50 5.62
0.76 0.77
18186.00 16759.75

3897.36 3582.92
 278.21 290.56
3786.42 2726.08
1172.97 1104.01
1566.12 1926.73
3444.45 3289.20
771.63 795.03
36.66 37.46
3.62 3.71
5.50 5.62
0.76 0.77
14963.71 13762.09
Mineral demand for grid battery storage (kt)

Stated policies
2022 2025 2030

Early commercialisation of vanadium flow batteries

Copper 20.40 38.24 81.90
Cobalt 3.59 3.09 5.72
Graphite 29.77 51.43 106.58
Lithium 3.40 5.50 11.44
Manganese 3.23 3.03 5.37
Nickel 8.91 8.73 20.16
Silicon 0.07 0.18 1.13
Vanadium 2.10 9.19 38.44
Total battery storage 71.46 119.38 270.75

Base case
Copper 20.45 38.44 82.73
Cobalt 3.59 3.09 5.45
Graphite 29.84 51.73 107.34
Lithium 3.44 5.66 11.81
Manganese 3.23 3.03 5.12
Nickel 8.91 8.73 19.35
Silicon 0.07 0.18 1.13
Vanadium 0.00 0.00 15.38
Total battery storage 69.52 110.87 248.32
Stated policies scenario Announced pledges scen
2035 2040 2045 2050 2025 2030 2035

147.66 212.64 219.33 194.60 51.88 128.27 221.45

8.98 9.86 9.15 7.14 4.19 8.97 13.46
188.48 263.56 265.94 231.31 69.77 166.91 282.66
19.30 25.49 23.61 17.15 7.47 17.91 28.94
7.69 7.61 6.78 4.98 4.11 8.41 11.53
37.84 50.89 50.92 43.94 11.84 31.57 56.74
2.70 4.90 5.93 5.80 0.25 1.77 4.04
148.86 330.91 510.06 698.88 12.47 60.21 223.25
561.49 905.85 1091.73 1203.80 161.97 424.03 842.08

153.59 225.25 238.48 219.72 52.16 129.56 230.34

6.17 4.75 2.26 0.00 4.19 8.54 9.26
190.95 267.22 272.46 245.15 70.19 168.11 286.36
20.32 26.92 27.61 24.59 7.68 18.50 30.47
5.08 3.21 0.36 0.00 4.11 8.02 7.61
25.92 21.24 13.03 0.00 11.84 30.31 38.88
2.70 4.90 6.40 6.14 0.25 1.77 4.04
74.43 220.61 242.89 232.96 0.00 24.08 111.62
479.15 774.09 803.49 728.57 150.42 388.90 718.59
nced pledges scenario Net Zero Emissions by 2050 scenario
2040 2045 2050 2025 2030 2035 2040

354.61 379.45 393.07 77.08 255.58 423.86 646.93

16.44 15.83 14.41 6.23 17.86 25.77 30.00
439.53 460.10 467.20 103.66 332.57 541.01 801.86
42.51 40.86 34.65 11.09 35.68 55.39 77.55
12.69 11.73 10.06 6.10 16.76 22.07 23.14
84.86 88.10 88.76 17.59 62.91 108.61 154.82
8.18 10.26 11.71 0.37 3.53 7.74 14.92
551.85 882.44 1411.62 18.53 119.96 427.29 1006.76
1510.67 1888.77 2431.47 240.66 844.87 1611.73 2755.97

375.65 412.59 443.81 77.50 258.15 440.86 685.32

7.91 3.91 0.00 6.23 17.02 17.72 14.44
445.64 471.38 495.17 104.28 334.96 548.10 813.00
44.89 47.78 49.68 11.42 36.86 58.32 81.90
5.35 0.62 0.00 6.10 15.98 14.57 9.76
35.41 22.54 0.00 17.59 60.39 74.41 64.61
8.18 11.07 12.40 0.37 3.53 7.74 14.92
367.90 420.21 470.54 0.00 47.98 213.65 671.18
1290.94 1390.10 1471.58 223.49 774.88 1375.37 2355.11
by 2050 scenario
2045 2050

674.88 589.11
28.15 21.60
818.31 700.22
72.66 51.93
20.87 15.07
156.69 133.03
18.25 17.55
1569.49 2115.68
3359.31 3644.19

733.83 665.16
6.95 0.00
838.38 742.13
84.97 74.45
1.11 0.00
40.09 0.00
19.69 18.58
747.38 705.23
2472.39 2205.55
Mineral demand for electricity networks (kt)

Stated policies sc
2022 2025 2030

Wider direct current (DC) technology development

Copper 4164.3 4516.16 6316.24
Aluminium 10357 11381 14006

Wider use of aluminium in underground cables

Copper 4181.5 4577.1 6167.0
Aluminium 10357 11609 15073

Base case
Copper 4181.6 4578.9 6510.3
Aluminium 10357 11606 14527
Stated policies scenario Announced pledges scenar
2035 2040 2045 2050 2025 2030 2035

6216.32 6185.09 6570.28 6339.66 4880.27 7223.69 8018.73

13715 13179 13640 12844 11615 15087 16393

3805.5 3729.5 4006.8 3942.5 4943.4 7060.0 4983.9

18786 18712 19885 19178 11849 16253 22735

6510.8 6582.4 7113.4 6982.3 4945.3 7440.0 8394.4

14482 14174 14943 14343 11846 15649 17310
nced pledges scenario Net Zero Emissions by 2050 scenario
2040 2045 2050 2025 2030 2035 2040

8508.54 8734.24 8058.06 4958.5 8668.9 10941.1 11813.7

17173 17964 16980 12178 17227 21613 24557

5138.6 5291.3 4955.8 5022.3 8480.9 6861.7 7152.9

24703 26320 25211 12426 18577 30108 35027

9058.7 9465.8 8887.3 5024.3 8923.6 11444.5 12574.4

18467 19679 18957 12423 17872 22818 26403
by 2050 scenario
2045 2050

10845.4 8862.3
22963 18597

6555.1 5449.3
33423 27644

11756.9 9777.8
25148 20759
Mineral demand for hydrogen technologies (kt)

Stated policies
2022 2025 2030

Hydrogen technologies
Copper 0.0 0.0 0.0
Cobalt 0.0 0.0 0.0
Iridium 0.0 0.0 0.0
Nickel 1.8 2.4 5.3
PGMs (other than iridum) 0.0 0.0 0.0
Zirconium 0.2 0.3 0.7
Yttrium 0.0 0.0 0.0
Total hydrogen 2.0 2.8 6.0
Stated policies scenario Announced pledges scen
2035 2040 2045 2050 2025 2030 2035

0.0 0.0 0.0 0.0 0.0 0.1 0.1

0.0 0.0 0.0 0.0 0.1 0.1 0.1
0.0 0.0 0.0 0.0 0.0 0.0 0.0
4.2 3.8 4.1 5.7 19.1 44.9 43.3
0.0 0.0 0.0 0.0 0.0 0.0 0.1
0.6 0.5 0.6 0.8 2.6 6.1 5.9
0.0 0.0 0.0 0.0 0.0 0.0 0.0
4.8 4.3 4.7 6.5 21.8 51.2 49.3
nced pledges scenario Net Zero Emissions by 2050 scenario
2040 2045 2050 2025 2030 2035 2040

0.1 0.1 0.2 0.1 0.1 0.2 0.2

0.0 0.0 0.1 0.2 0.3 0.2 0.1
0.0 0.0 0.0 0.0 0.0 0.0 0.0
46.4 47.1 61.1 35.6 115.1 118.0 92.6
0.1 0.1 0.1 0.0 0.1 0.2 0.2
6.3 6.4 8.4 4.8 15.6 16.0 12.6
0.0 0.0 0.0 0.0 0.0 0.0 0.0
52.9 53.8 69.8 40.6 131.2 134.6 105.7
by 2050 scenario
2045 2050

0.1 0.2
0.1 0.1
0.0 0.0
63.5 86.8
0.2 0.1
8.7 11.9
0.0 0.0
72.6 99.1
Mineral demand for clean energy technologies - by mineral and s

Stated policies
2022 2025 2030

Chromium
Wind 50.32 54.18 72.68
Other low emissions power generation 130.79 162.78 292.46
Total chromium 181.11 216.96 365.13

Copper
Solar PV 681.65 778.95 907.25
Wind 393.79 427.77 646.33
Other low emissions power generation 85.02 69.04 107.55
Electric vehicles 373.33 579.79 1044.14
Grid battery storage 20.45 38.44 82.73
Electricity networks 4181.61 4578.91 6510.25
Hydrogen technologies 0.00 0.00 0.01
Total copper 5735.86 6472.90 9298.25

Cobalt
Low emissions power generation 0.02 0.02 0.02
Electric vehicles 64.56 66.37 73.94
Grid battery storage 3.59 3.09 5.45
Hydrogen technologies 0.01 0.01 0.01
Total cobalt 68.18 69.49 79.42

Graphite
Electric vehicles 557.20 935.67 1590.25
Grid battery storage 29.84 51.73 107.34
Total Graphite 587.04 987.40 1697.59

Lithium
Electric vehicles 69.74 123.04 228.01
Grid battery storage 3.44 5.66 11.81
Total Lithium 73.17 128.70 239.83

Manganese
Wind 80.00 86.05 114.16
Other low emissions power generation 15.16 15.40 31.15
Electric vehicles 75.37 57.89 152.36
Grid battery storage 3.23 3.03 5.12
Total Manganese 173.75 162.37 302.79

Molybdenum
Solar PV 0.14 0.18 0.21
Wind 10.53 11.34 15.18
Other low emissions power generation 14.96 19.23 30.14
Total Molybdenum 25.63 30.74 45.53

Nickel
Solar PV 0.25 0.29 0.34
Wind 36.54 39.19 49.98
Other low emissions power generation 83.39 166.58 318.31
Electric vehicles 325.83 613.86 988.05
Grid battery storage 8.91 8.73 19.35
Hydrogen technologies 1.77 2.43 5.30
Total Nickel 456.69 831.07 1381.33

PGMs
Hydrogen technologies 0.001 0.003 0.006
Total PGMs 0.001 0.003 0.006

Silicon
Solar PV 756.33 807.81 843.16
Electric vehicles 8.70 40.50 138.52
Grid battery storage 0.07 0.18 1.13
Total Silicon 765.10 848.50 982.81

Silver
Solar PV 3.83 4.03 4.08
Other low emissions power generation 0.02 0.01 0.05
Total Silver 3.86 4.04 4.13

Zinc
Solar PV 6.06 6.95 8.28
Wind 561.03 603.42 799.39
Other low emissions power generation 17.42 14.22 17.37
Total Zinc 584.51 624.60 825.04

Neodymium
Wind 5.81 6.27 10.21
Electric vehicles 3.96 7.25 12.22
Total Neodymium 9.77 13.53 22.43
by mineral and sector (kt)

Stated policies scenario Announced pledges scen

2035 2040 2045 2050 2025 2030 2035

70.68 65.87 81.29 90.07 67.62 103.37 115.82

243.82 361.65 249.84 236.04 199.99 424.43 405.93
314.49 427.52 331.13 326.11 267.62 527.80 521.74

924.80 958.77 1122.06 1261.66 923.15 1176.67 1369.37

595.26 532.29 639.01 720.63 541.45 884.64 983.67
86.87 84.70 110.21 117.30 78.74 140.86 154.70
1219.21 1421.16 1457.66 1345.87 688.68 1591.93 2570.40
153.59 225.25 238.48 219.72 52.16 129.56 230.34
6510.83 6582.40 7113.43 6982.32 4945.27 7439.96 8394.40
0.01 0.01 0.01 0.01 0.03 0.06 0.07
9490.56 9804.58 10680.90 10647.50 7229.46 11363.70 13702.90

0.02 0.02 0.02 0.03 0.02 0.03 0.03

77.67 105.31 133.99 145.61 77.49 112.92 159.35
6.17 4.75 2.26 0.00 4.19 8.54 9.26
0.01 0.00 0.00 0.00 0.08 0.12 0.08
83.87 110.07 136.27 145.65 81.78 121.60 168.72

1781.78 1690.57 1491.75 1077.40 1100.86 2436.53 3703.06

190.95 267.22 272.46 245.15 70.19 168.11 286.36
1972.73 1957.79 1764.21 1322.56 1171.05 2604.64 3989.42

325.35 433.21 490.86 465.84 145.26 349.47 671.27

20.32 26.92 27.61 24.59 7.68 18.50 30.47
 345.67 460.13 518.47 490.44 152.95 367.97 701.75

111.02 103.29 127.46 140.79 107.30 163.00 181.87

34.12 44.91 38.48 40.27 20.24 60.01 90.72
298.06 521.47 801.58 993.94 67.68 231.47 595.16
5.08 3.21 0.36 0.00 4.11 8.02 7.61
448.28 672.87 967.88 1175.00 199.32 462.50 875.35

0.22 0.23 0.24 0.25 0.21 0.26 0.30

14.76 13.76 16.98 18.80 14.15 21.61 24.19
25.41 39.47 26.81 25.99 23.45 43.23 39.89
40.40 53.45 44.03 45.04 37.81 65.09 64.38

0.35 0.36 0.42 0.47 0.34 0.45 0.52

49.16 46.04 56.49 61.15 48.69 72.34 80.41
267.03 459.22 236.10 220.00 216.03 486.34 426.54
1214.57 1515.79 1615.17 1579.68 709.34 1497.55 2440.73
25.92 21.24 13.03 0.00 11.84 30.31 38.88
4.22 3.78 4.08 5.66 19.10 44.88 43.26
1561.24 2046.43 1925.29 1866.96 1005.35 2131.87 3030.33

0.010 0.014 0.016 0.020 0.008 0.021 0.055

0.010 0.014 0.016 0.020 0.008 0.021 0.055

823.27 828.00 915.71 986.84 960.96 1108.68 1236.39

224.22 351.99 374.07 373.49 46.65 208.79 442.16
2.70 4.90 6.40 6.14 0.25 1.77 4.04
1050.19 1184.89 1296.18 1366.46 1007.86 1319.24 1682.60

3.43 2.85 2.44 1.79 4.76 5.25 4.92

 0.07 0.07 0.08 0.08 0.02 0.12 0.22
3.50 2.92 2.51 1.87 4.78 5.37 5.15

8.44 8.88 10.28 11.62 8.27 10.90 12.74

777.40 723.09 892.28 985.18 752.29 1141.95 1273.41
17.03 18.30 23.95 25.96 16.34 26.06 37.02
802.87 750.28 926.51 1022.76 776.90 1178.91 1323.17

9.14 8.03 9.76 11.33 7.98 13.35 14.74

15.13 18.85 21.80 22.88 8.40 17.63 30.26
24.27 26.88 31.56 34.21 16.38 30.99 44.99
nced pledges scenario Net Zero Emissions by 2050 scenario
2040 2045 2050 2025 2030 2035 2040

118.56 117.98 131.38 90.78 194.75 184.31 150.32

487.85 365.23 426.53 316.63 657.11 573.72 570.75
606.41 483.20 557.91 407.41 851.85 758.04 721.07

1392.42 1620.57 1811.29 1258.76 1990.30 2062.50 2026.35

989.66 996.41 1107.38 704.91 1630.04 1542.65 1327.88
148.98 159.95 160.41 92.60 225.49 228.33 180.39
3134.77 3241.24 3306.83 1152.05 2703.91 3799.47 3883.62
375.65 412.59 443.81 77.50 258.15 440.86 685.32
9058.74 9465.80 8887.34 5024.26 8923.60 11444.50 12574.40
0.09 0.10 0.16 0.06 0.15 0.18 0.17
15100.30 15896.70 15717.20 8310.13 15731.60 19518.50 20678.10

0.03 0.03 0.04 0.02 0.04 0.05 0.03

212.58 257.85 295.69 130.42 187.99 230.83 243.97
7.91 3.91 0.00 6.23 17.02 17.72 14.44
0.04 0.04 0.05 0.15 0.30 0.21 0.08
220.56 261.83 295.78 136.82 205.36 248.81 258.52

3611.27 3136.32 2485.77 1844.36 4114.97 5486.07 4540.40

445.64 471.38 495.17 104.28 334.96 548.10 813.00
4056.91 3607.70 2980.94 1948.64 4449.93 6034.16 5353.40

907.05 1005.67 1039.49 242.70 591.56 985.44 1105.55

44.89 47.78 49.68 11.42 36.86 58.32 81.90
 951.94 1053.44 1089.17 254.12 628.42 1043.76 1187.44

185.57 184.18 204.78 144.40 307.75 289.85 234.41

101.32 89.63 90.06 31.74 108.88 135.55 136.99
1028.01 1508.40 1997.33 112.90 377.93 816.39 1126.13
5.35 0.62 0.00 6.10 15.98 14.57 9.76
1320.25 1782.83 2292.17 295.15 810.54 1256.35 1507.29

0.29 0.29 0.28 0.28 0.41 0.42 0.40

24.76 24.62 27.42 19.00 40.72 38.51 31.37
48.98 36.37 43.91 36.08 69.13 55.85 56.41
74.03 61.28 71.61 55.35 110.26 94.78 88.18

0.54 0.62 0.69 0.48 0.78 0.80 0.79

81.99 79.92 87.64 66.06 137.63 128.91 101.85
560.74 345.88 460.69 382.18 723.98 595.44 634.27
3040.23 3138.78 3272.53 1157.04 2414.37 3391.95 3450.65
35.41 22.54 0.00 17.59 60.39 74.41 64.61
46.38 47.13 61.15 35.55 115.07 117.96 92.65
3765.29 3634.88 3882.69 1658.91 3452.23 4309.47 4344.81

0.082 0.089 0.076 0.025 0.079 0.160 0.195

0.082 0.089 0.076 0.025 0.079 0.160 0.195

1205.98 1331.55 1402.03 1394.58 2141.30 2049.79 1863.99

691.56 718.74 786.08 74.54 328.75 594.71 755.77
8.18 11.07 12.40 0.37 3.53 7.74 14.92
1905.71 2061.36 2200.51 1469.48 2473.58 2652.24 2634.68

3.80 2.96 1.65 6.67 9.10 7.42 5.37

 0.23 0.22 0.21 0.03 0.23 0.34 0.33
4.04 3.18 1.85 6.70 9.33 7.76 5.70

13.09 15.22 16.96 11.58 18.97 19.50 19.22

1298.77 1288.60 1432.49 1012.79 2156.63 2029.87 1639.86
37.34 40.61 39.08 18.92 51.19 54.98 49.92
1349.20 1344.43 1488.53 1043.29 2226.79 2104.35 1709.00

14.57 14.82 16.38 10.09 23.77 22.18 19.13

39.49 44.31 48.73 12.97 26.31 35.01 33.93
54.06 59.13 65.12 23.06 50.07 57.19 53.06
by 2050 scenario
2045 2050

104.52 155.08
359.70 304.02
464.21 459.11

1673.70 1879.78
881.42 1303.25
148.27 142.19
3897.36 3582.92
733.83 665.16
11756.90 9777.84
0.14 0.22
19091.60 17351.40

0.03 0.03
278.21 290.56
6.95 0.00
0.06 0.08
285.25 290.67

3786.42 2726.08
838.38 742.13
4624.80 3468.21

1172.97 1104.01
84.97 74.45
1257.94 1178.46

163.25 241.89
88.59 71.69
1566.12 1926.73
1.11 0.00
1819.07 2240.31

0.28 0.26
21.82 32.36
35.70 30.40
57.79 63.03

0.64 0.71
71.03 103.89
346.45 283.48
3444.45 3289.20
40.09 0.00
63.52 86.76
3966.18 3764.03

0.185 0.138
0.185 0.138

1387.86 1405.65
771.63 795.03
19.69 18.58
2179.18 2219.26

2.74 1.19
 0.22 0.17
2.96 1.37

15.61 17.46
1142.29 1692.20
38.80 34.09
1196.70 1743.75

12.23 17.55
36.66 37.46
48.89 55.01
Mineral demand for clean energy technologies - by mineral (kt)

Stated policies
2022 2025 2030

Boron 0.2 0.2 0.3

Cadmium 0.4 0.4 0.4
Chromium 181.1 217.0 365.1
Copper 5735.9 6472.9 9298.3
Cobalt 68.2 69.5 79.4
Gallium 0.0 0.0 0.1
Germanium 0.0 0.0 0.0
Graphite 587.0 987.4 1697.6
Hafnium 0.0 0.0 0.0
Indium 0.1 0.1 0.1
Iridium 0.0 0.0 0.0
Lead 14.1 11.9 13.8
Lithium 73.2 128.7 239.8
Magnesium 5.3 3.9 8.0
Manganese 173.8 162.4 302.8
Molybdenum 25.6 30.7 45.5
Nickel 456.7 831.1 1381.3
Niobium 0.2 0.2 0.6
PGMs (other than iridum) 0.0 0.0 0.0
Selenium 0.1 0.1 0.1
Silicon 765.1 848.5 982.8
Silver 3.9 4.0 4.1
Tantalum 0.0 0.1 0.2
Tellurium 0.4 0.4 0.4
Tin 1.3 1.4 1.8
Titanium 4.7 6.1 8.7
Tungsten 0.1 0.0 0.1
Vanadium 0.0 0.0 15.4
Zinc 584.5 624.6 825.0
Zirconium 0.7 0.6 1.5
Arsenic 0.0 0.0 0.2
Neodymium 9.8 13.5 22.4
Dysprosium 1.0 1.4 2.3
Praseodymium 1.5 2.1 3.6
Terbium 0.3 0.4 0.7
Yttrium 0.0 0.0 0.0
Lanthanum 0.0 0.0 0.0
Total rare earth elements 12.7 17.5 29.0
Total 8695.2 10419.7 15302.4
by mineral (kt)

Stated policies scenario Announced pledges scen

2035 2040 2045 2050 2025 2030 2035

0.3 0.3 0.3 0.4 0.2 0.4 0.5

0.4 0.4 0.5 0.5 0.5 0.5 0.6
314.5 427.5 331.1 326.1 267.6 527.8 521.7
9490.6 9804.6 10680.9 10647.5 7229.5 11363.7 13702.9
83.9 110.1 136.3 145.6 81.8 121.6 168.7
0.4 2.6 3.0 3.3 0.0 0.1 0.7
0.0 0.0 0.0 0.0 0.0 0.0 0.0
1972.7 1957.8 1764.2 1322.6 1171.1 2604.6 3989.4
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.1 0.1 0.1 0.1 0.1 0.1 0.1
0.0 0.0 0.0 0.0 0.0 0.0 0.0
11.7 12.0 16.8 17.7 13.2 16.5 18.0
345.7 460.1 518.5 490.4 152.9 368.0 701.7
11.1 12.6 13.8 15.3 5.4 19.5 37.0
448.3 672.9 967.9 1175.0 199.3 462.5 875.4
40.4 53.5 44.0 45.0 37.8 65.1 64.4
1561.2 2046.4 1925.3 1867.0 1005.4 2131.9 3030.3
0.7 1.0 0.7 0.8 0.4 1.3 2.0
0.0 0.0 0.0 0.0 0.0 0.0 0.1
0.1 0.1 0.1 0.1 0.1 0.1 0.1
1050.2 1184.9 1296.2 1366.5 1007.9 1319.2 1682.6
3.5 2.9 2.5 1.9 4.8 5.4 5.1
0.1 0.3 0.1 0.1 0.1 0.3 0.2
0.4 0.4 0.4 0.4 0.5 0.5 0.5
1.8 1.8 2.1 2.4 1.7 2.3 2.6
7.5 10.4 7.9 9.9 7.7 13.3 13.5
0.1 0.1 0.1 0.1 0.0 0.1 0.1
74.4 220.6 242.9 233.0 0.0 24.1 111.7
802.9 750.3 926.5 1022.8 776.9 1178.9 1323.2
1.1 0.9 1.1 1.2 2.8 7.0 6.6
1.1 6.4 7.4 8.3 0.0 0.3 1.7
24.3 26.9 31.6 34.2 16.4 31.0 45.0
2.4 2.7 3.2 3.4 1.7 3.2 4.5
3.9 4.3 5.1 5.6 2.6 5.0 7.2
0.7 0.7 0.9 1.0 0.5 0.9 1.2
 0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
31.3 34.6 40.7 44.3 21.2 40.1 58.0
16256.4 17775.3 18931.3 18748.2 11988.8 20275.1 26319.5
nced pledges scenario Net Zero Emissions by 2050 scenario
2040 2045 2050 2025 2030 2035 2040

0.5 0.5 0.6 0.3 0.7 0.7 0.7

0.6 0.6 0.6 0.8 1.2 1.1 1.0
606.4 483.2 557.9 407.4 851.9 758.0 721.1
15100.3 15896.7 15717.2 8310.1 15731.6 19518.5 20678.1
220.6 261.8 295.8 136.8 205.4 248.8 258.5
3.9 4.6 5.1 0.0 0.2 1.0 5.5
0.0 0.0 0.0 0.0 0.0 0.0 0.0
4056.9 3607.7 2980.9 1948.6 4449.9 6034.2 5353.4
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.1 0.1 0.1 0.1 0.1 0.2 0.2
0.0 0.0 0.0 0.0 0.0 0.0 0.0
17.3 21.1 20.8 15.2 30.4 26.0 21.7
951.9 1053.4 1089.2 254.1 628.4 1043.8 1187.4
39.1 37.7 35.6 7.7 39.9 56.4 55.9
1320.3 1782.8 2292.2 295.2 810.5 1256.4 1507.3
74.0 61.3 71.6 55.4 110.3 94.8 88.2
3765.3 3634.9 3882.7 1658.9 3452.2 4309.5 4344.8
2.3 1.9 2.0 0.6 2.3 3.0 3.1
0.1 0.1 0.1 0.0 0.1 0.2 0.2
0.1 0.1 0.1 0.1 0.2 0.2 0.2
1905.7 2061.4 2200.5 1469.5 2473.6 2652.2 2634.7
4.0 3.2 1.9 6.7 9.3 7.8 5.7
0.3 0.2 0.3 0.2 0.4 0.3 0.4
0.5 0.5 0.5 0.8 1.2 1.1 1.0
2.7 3.1 3.4 2.3 3.9 4.0 3.9
14.7 12.3 15.5 10.4 20.6 20.2 16.7
0.1 0.1 0.1 0.1 0.2 0.2 0.1
367.9 420.2 470.6 0.0 48.0 213.7 671.2
1349.2 1344.4 1488.5 1043.3 2226.8 2104.4 1709.0
7.0 7.1 8.9 5.1 16.6 17.0 13.3
9.7 11.4 12.8 0.0 0.4 2.5 13.8
54.1 59.1 65.1 23.1 50.1 57.2 53.1
5.4 6.0 6.6 2.4 5.2 5.9 5.5
8.7 9.6 10.7 3.6 8.2 9.4 8.9
1.5 1.6 1.8 0.6 1.5 1.7 1.6
 0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.1 0.1 0.0 0.0 0.0 0.1
69.7 76.3 84.3 29.8 65.0 74.2 69.1
29891.2 30788.9 31239.8 15659.6 31181.4 38450.3 39366.0
by 2050 scenario
2045 2050

0.5 0.7
0.6 0.4
464.2 459.1
19091.6 17351.4
285.2 290.7
4.5 5.0
0.0 0.0
4624.8 3468.2
0.0 0.0
0.1 0.1
0.0 0.0
19.9 19.4
1257.9 1178.5
37.2 29.9
1819.1 2240.3
57.8 63.0
3966.2 3764.0
1.9 1.5
0.2 0.1
0.1 0.1
2179.2 2219.3
3.0 1.4
0.2 0.2
0.6 0.4
3.2 3.6
11.1 11.2
0.1 0.1
747.4 705.3
1196.7 1743.8
9.3 12.5
11.2 12.5
48.9 55.0
5.0 5.8
8.0 9.5
1.4 1.7
 0.0 0.0
0.1 0.1
63.4 72.2
35857.2 33654.9
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