Evolution of Human Civilization and the Importance of Metals
Human civilization's progress has been closely tied to the use of metals, moving from the Neolithic Age to the Chalcolithic Age, and then advancing to the Bronze Age and Iron Age.
Industrial Revolutions and Their Fuels
- The first industrial revolution was powered by coal in the 19th and early 20th centuries.
- The second industrial revolution relied on oil and its derivatives, fueling global prosperity in the latter half of the 20th century.
21st Century: The Age of Critical Minerals
The current era is characterized by the prominence of critical minerals in both foreign and domestic agendas, especially in the United States.
- Former President Donald Trump's interest in annexing Canada and Greenland highlights their vast mineral resources.
- Efforts to access Ukraine's mineral resources underscore the geopolitical importance of minerals.
- Domestic policies in the US have focused on fast-tracking mineral exploration, reducing approval times significantly.
Global Trade Conflicts and Mineral Control
- China's control over rare earth materials poses a significant threat to the US and global supply chains.
Technological Advancements and Mineral Dependency
- Technologies mitigating climate change are heavily mineral-intensive, such as electric vehicles and renewable energy infrastructure.
- The fourth industrial revolution involving AI, robotics, and big data requires substantial amounts of minerals like copper.
Supply Concentration Risks in Critical Minerals
The heavy concentration of mineral supply is a significant risk factor.
- Cobalt supply is almost exclusively from Congo.
- Indonesia controls nearly 50% of the global nickel supply.
- China dominates rare earths mining and processing.
- Australia, Chile, and China are major lithium producers.
India's Position and the Need for Exploration
India's under-explored mineral resources highlight the need for aggressive exploration to secure supply chains and boost manufacturing capabilities.
