Table 1 Projections on increase in critical minerals demand for clean energy technology under a net-zero emissions by 2050 scenario [data expressed in thousand metric tons (Kt)]
Energy transition Critical Mineral | 2025 | 2030 | 2035 | 2040 | 2045 | 2050 |
|---|---|---|---|---|---|---|
Cobalt | 136.8 | 205.4 | 248.8 | 258.5 | 285.2 | 290.7 |
Copper | 8310.1 | 15731.6 | 19518.5 | 20678.1 | 19091.6 | 17351.4 |
Gallium | 0 | 0.2 | 1.0 | 5.5 | 4.5 | 5.0 |
Lithium | 254.1 | 628.4 | 1043.8 | 1187.4 | 1257.9 | 1178.5 |
Nickel | 1658.9 | 3452.2 | 4309.5 | 4344.8 | 3966.2 | 3764.0 |
Platinum Group Metals (excl. Iridium) | 0 | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 |
Total rare earth elements | 29.8 | 65 | 74.2 | 69.1 | 63.4 | 72.2 |