Critical minerals such as lithium, cobalt, nickel, copper, graphite, and rare earth elements (REEs) form the bedrock of technologies driving the global clean energy transition. They are indispensable for electric vehicles (EVs), solar photovoltaic (PV) systems, wind turbines, grid storage, and advanced digital and defence technologies. The International Energy Agency’s (IEA) Global Critical Minerals Outlook 2025 highlights that these minerals are no longer niche industrial inputs but strategic resources shaping the new global economic and security architecture.

Demand for these materials is accelerating rapidly-expected to triple by 2030 and quadruple by 2040-under the Net Zero Emissions (NZE) scenario. However, supply remains highly concentrated in a few countries. The IEA and the World Economic Forum (WEF) both stress that ensuring secure, sustainable, and diversified access to critical minerals is essential to avoid a “disorderly” energy transition. Critical minerals lie at the intersection of energy security, economic growth, and geopolitical stability. Nations now view mineral supply resilience as integral to national strategy, similar to oil in the 20th century.